Building Wealth During Coronavirus: Day 1 - Health is Wealth

March 17, 2020

Here's a blog series I'm starting today to help folks emerge from this latest crisis better positioned in their wealth. Check it out and please share!

It's been said that a crisis is a terrible thing to waste. As the Coronavirus has spread across the globe, we've seen governments, communities and markets rapidly shifting on a day-to-day basis. More and more of us are beginning to hunker down for a time period as we practice "social distancing" and work from home. We need to be asking ourselves how will we take advantage of today's crisis and emerge even better than before it?

This can be a scary time for a lot of reasons. To help do my part, each day the Spurstone offices are temporarily closed, I will be posting ideas to help everyone evaluate their financials and hopefully emerge stronger and better prepared to achieve their own financial goals.

So let's get started with today's topic, Health is Wealth...

The news is sensationalizing these events in an attempt to steal your eyeballs. Staying informed is important, but don't let the media become a negative feedback loop for you. So start with getting the news you need from trusted sources and then turning it off to move on with your life. Your mental health is critical for your decision making and overall stress. News outlet hysteria isn't likely doing you any favors.

If you're working from home, now is a great time to re-focus on your physical health. Yes, the government is asking us all to limit our social contact, but that doesn't mean you can't get outside to enjoy fresh air and exercise. My wife and I are already planning hikes with our girls, biking and lots of outdoor adventures. The spring season is here now, a perfect time to get back to nature.

And finally, take this time to also strengthen the health of your relationships. This is a great opportunity to enjoy quality time with your family that you might otherwise have missed. Take a walk with your kids, cuddle up for a movie night and FaceTime with the ones you love. Reconnecting doesn't mean you have to be in the same room, sometimes a simple text or video call can go a long way for someone who would love to hear that you care.

The healthier we are, the more productive we are. That means the opportunity to earn more income and enjoy the fruits of our labor. Let's all take this time as an opportunity to focus on our health so we can continue to grow our wealth.

Tomorrow, I'll talk about "measuring the gain, not the gap", a critical concept these days. So hang tight!

-Tim Golas, Partner @ Spurstone - Architects of Executive Wealth

This information is for educational purposes only and should not be construed as specific advice. Spurstone is a privately-owned, Connecticut-based fiduciary firm that specializes in advising stock-compensated corporate executives across the country.. Advisory services provided by Spurstone Advisory Services, LLC.