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2020 - Synthesizing the Year

December 29, 2020

2020 was a difficult year. It is easy to find things to complain about, get depressed about and/or get angry about. Those are all natural and expected responses from such a significant and negative shock as a global pandemic. Many of us look forward to 2021, hoping we never see another 2020 again.

We, individually, could not control the global impact of COVID, nor the innate feelings they produced. But we are in control of how we choose to remember the past, handle the present and frame the future.

2020 Could Have Been Worse!

When difficult times abound, it can be helpful to step back and realize how much things could be worse – it helps us see with a different perspective. With respect to the pandemic, there are diverse ways it could have been worse – here are just a few:

  • COVID could have been a completely foreign virus (not a coronavirus) that scientists knew nothing about
  • The vaccines could have had strong side effects, low effectiveness and/or taken years to develop
  • Government intervention could have been ineffective in stimulating the economy and our confidence
  • Markets could have crashed, and the economy could have come to a screeching halt

A Better Perspective

Whenever we realize how much worse something could have been, we are in a position to feel grateful and fortunate that it could have been much worse. Such a perspective may not change the reality in which we live, but it can greatly change our mood and outlook for the future.

Here is to a healthy, happy and strong 2021!

 

©2020 The Behavioral Finance Network. Used with permission