Today I heard Alan Jackson’s song “Where Were You (When The World Stopped Turning)”; it reminded me of how we all felt after 9-11.  While there’s not a definitive day this time, there is a definitive event that we are all living through, trying to figure out how do we best handle our new realities.  I hope it will cause us to reevaluate what is important in our lives & why we’re here.  

I’ve delayed writing to you sooner, hoping that I could find the right words to effectively communicate the best plan of action for us to navigate these waters.  I, probably like you, after trying to analyze all of the different information coming at us, felt stunned & somewhat paralyzed in considering all of the what-ifs.  With the increased uncertainty of our world today surrounding health, financial, safety/security concerns, it can leave us feeling overwhelmed.

An old pastor of ours, pastor Kevin, used to tell us, “Don’t ever doubt in the dark, what you know to be true in the light.”  This has brought me some comfort during these & other trying times.  So, what do we know to be true:

1. We are resilient, resourceful & I believe we will overcome these times just like we have before.
2. We’ve found cures for polio, AIDS & Ebola, to name a few.
3. We live in a great age of medical technology & advancements.
4. While this time is different, we have been here before.
5. The US economy was financially & economically in pretty good shape going into this.
6. The US banks have significantly more reserves today than they did going into 2008.
7. The Federal Reserve has been very active with timely support for the needed liquidity & even opened-up what it will buy to help provide stability.
8. Our government has also been quick to act to help support unemployed workers, small businesses, healthcare industry, etc.
9. Declines in the stock, bond markets, real estate & other asset classes do occur. 

Things may get worse before they get better; however, I’d like to remind us to look at where asset valuations could be in a few years v. where they are now & over the near-term.  We can reference 1987, 2000 & 2008 for just a few times when times weren’t so good, but after a few years, those losses recovered.  Past performance is no guarantee of future results.  History can be a guide to see how things worked out through other challenging periods.

Stock market volatility, unfortunately, has been common; however, it is a necessary function of the markets.  Changes in asset values may afford us opportunities to reallocate portfolios that potentially take advantage of asset fluctuations.  Hockey superstar Wayne Gretzky summed up his secret to success as a recognition that a good player must: “go where the puck will be, not where it is.”

This healthcare event certainly has opened our eyes to how much the US has outsourced our manufacturing & other industries to other countries, plus how vulnerable that has made us.  I see a lot of future possibilities for mfg. jobs to relocate to the US; once again, for products we need to be made in the USA.

At our core, I believe most people are good & charitable where they can be; please continue to look for meaningful ways you can help those in your circles of life.  It is a gift to your own soul to be generous, which validates how we were made & wired.

Be present, mindful of the moments we share with our loved ones, whether remotely or in your own home.  Purposefully look for moments to make good, lasting memories with them, even if it’s in different ways; we won’t always have the opportunities we do today.

I believe we will get through this together & will be stronger for it.  Thank you for allowing us to serve you.  Please email or give us a call if you have questions; our team is here to help guide you through tax or financial matters.

Hope we can go get a haircut before too long or I may start lookin’ like my uncle Jack:                                                                                         

Be well & safe; we look forward to seeing you soon.

All the best, Jeff Rasco and the R&R team: Bonnie, Jenn, Christi, Carissa, Vanessa, Brandi & Linda