What a Difference a Year Can Make
BY CINDY YOUNGCOURT
It’s hard for me to believe that one year ago I was standing beside my soon-to-be husband as we prepared to exchange vows. If someone had told me then that on our first wedding anniversary I would be working from home, homeschooling my children, wearing masks into stores and staying 6 feet away from anyone not in my household, I would have thought they had described a science-fiction movie, not the reality that 2020 would be.
Looking back on June 8, 2019: the air was crisp and cool for a Saturday in June, but the rain had stopped the night before. We had timed our wedding ceremony to coincide with the sunset, but not a hint of sun could be seen in the cloudy but still blue sky. The yellow roses in the bouquet, corsages and boutonnieres were so bright and the blue in the decorations were stunning as we each said “I do” by the bay in Ocean City, Maryland. The fun began after our short ceremony. It truly was what a great celebration should be—good food, delicious cake and lots of dancing, toasts, cheer, laughter and love.
On our honeymoon in Punta Cana, the most concerning news for us at that time was crime and tainted bottles in the minibars at Caribbean resorts. The weather was perfect, the scenery idyllic, the service impeccable. It was a great opportunity to relax and recharge after all the work we had put into planning our wedding. By the end of the week, I was more than ready to head back home, see my children and go back to work for my clients, helping them live their best life.
When I returned to the office, the economy was booming and the markets roaring. Yet, as a financial advisor, I knew I had to maintain my focus on what my ultimate goal is—helping my clients implement their financial plans and making sure that their goals were attainable. The most suitable goal is not to beat a benchmark, but rather to achieve whatever your personal financial goal might be—to retire at age 65 and travel, or pay for your grandchildren’s education, or buy that second home on the water.
Fast forward to the mid-point of 2020. We’re in the throes of a global pandemic and an economic shutdown that has shuttered many businesses and forced many people into unemployment. Some of these businesses may never return. Same goes with the jobs they once offered.
Investors experienced a wild ride, too. In the early weeks of the pandemic, the stock market reacted with a sharp, sudden downturn. The S&P 500 fell into bear market territory in record time. Then, stocks reversed course just as quickly, with U.S. stocks defying nearly all underlying fundamental economic and market rationale with their recent rebound, as well as defying the technical probabilities.
Our focus at Affinity Wealth Management remains the same in 2020 as it did in 2019 and all the years before. We help our clients live their best lives. As this turbulent year continues, we will stay committed to focusing on your financial plan, suggesting changes as needed. We will continue to prepare for the future and keep you on track toward your long-term financial goals.
This is our standing commitment to our clients. Always.