What Can You Control?
We have had a crazy year so far.
We have seen many unprecedented events this year that have not happened before, including a change of government.
Some must watch their rice bowls taken away and being helpless, some have to see their loved ones leaving them due to covid-19, and other diseases. Coupled with a volatile stock markets, elections, re-elections, working from homes, etc. None of us have anticipated 2020 to be like this. Even after MCO from March, we didn’t really expect to have a series of MCOs until December.
Generally, year 2020 have been about crisis from personal level to company level, to national level. So many of the problems we've faced in 2020 have felt bigger than we are.
While we are not sure when will covid-19 finally be defeated, one thing certain is that if we are so wrapped up in problems, we may be overlooking things in our life that we can control.
Taking some purposeful steps in these three areas could remind you who's ultimately in charge of your family's Return on Life.
1. Your mental health.
Diseases, threat to our health exist all the time, even before covid-19. People die daily even before covid-19. But what is so different about this time is it makes us realize that none of us have the remote control to how long we still have when it come to this thing call life. In addition to the health threat that gets very real this year, there’s also been too much of news on how people lose their job, not having enough to get through the challenge etc.
As we fight to keep hope, these news try to suck it out from us. Reading news that paint a glim picture helps no reader who read it. As more users spend more time on social media, it actually help us to get exposed to more news that may magnifies our anxieties and bounces them back to us over and over again.
When you're not working or checking on your friends, set some daily screen time limits. Unplugging before bed can be especially beneficial if your brain is still revving from a full day of tweets and likes. Our electronic devices and apps are designed to attract our attention. When it's time to sleep, there's no better mute button than a good book and a warm cup of water.
2. Your physical health.
The pandemic could create a new breed of couch potato: instead of binge-watching TV (or your Netflix for that matter), we're in danger of putting in unnecessary overtime, all the time.
Working from home has disrupted many of the routines that kept us active even on days when we weren't heading to the gym. Simple things like moving around the office or walking down to the shops nearby for a coffee break don't happen as much when you and your laptop are parked at tables at home. Instead, in between tasks, you might find yourself clicking open a new tab and getting sucked into the day’s drama courtesy to social media.
The physical barriers between home and work are a little blurry right now (bosses, this is real) but you have more control over your schedule. Break up a long day of Zoom calls with ten minutes of simple exercise. When you hit inbox zero, take a long walk. And when it's time to clock out for the day, turn off your computer, get up from your makeshift desk, and get moving. Even if you have to convert your living room into a gym, just do it.
Separating yourself from your WFH routine will help you get the most out of your new exercise routine. For me, I make it a point to get down to the street and jog, even it means jogging in the basement carpark.
3. Your financial health.
People who have never set a monthly budget are often surprised by what an empowering experience it can be. The most impactful adjustment you can make to your financial plan is to limit unnecessary spending and maximize saving while continuing to invest prudently, regardless of what’s happening in the markets or on the news. Even this may feel like the one thing we don’t have control, the truth is, this could be one of the thing that we have control.
Still, the investment piece of this picture can make people anxious during moments of uncertainty, especially if retirement is nearing, or Fixed Deposits have been the only investment known to you.
That's one of the reasons that we like to revisit the Money Philosophy exercise with our clients at least once per year. A financial plan is only as good as your confidence in it, and most financial plans are incorrect, we just don’t know how it can go wrong. That is why, regular check-ins and reviews are crucial in ensuring we are moving on the right track.
Let's schedule a video chat to discuss how comfortable you're feeling about your market exposure, savings goals, debt, and spending. We can work together to control these and other variables so that you’ll feel excited about your plan and your family’s future.
