Much is being written on the potential psychological effects of social isolation. This is not the place for an extensive review of all of the possible impacts of a lack of normal social interaction. However, it is important to recognize that we have evolved to be social creatures. For all of history, people have been in family structures, people have been in groups, we’ve evolved to crave and rely on interaction with other human beings.
Investors should consider the potential for isolation, especially when combined with uncertainty, to increase anxiety in general, and regarding your financial situation in particular. It is important to stay anchored. Accordingly, seek to maintain a level of normal, if distant, interaction with friends and associates. This should also include continuing to remain in touch with your financial advisor(s) and reaffirming a commitment to your long term portfolio strategy.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA