Random Observation/Comment #651: Welp. Gg.
Why This List?
It’s hard not to think about the Coronavirus impacts from a financial and economics standpoint when you manage your family’s portfolio and like to study emerging patterns. (Plus, it’s everywhere in the media and probably a topic that has come up in conversation.)
My conclusion: It’s definitely a pandemic and we’re likely all going to be exposed to it (like we do any flu virus), but it’s not the zombie apocalypse. All we can really do is boost our immune system with a balanced diet, exercise, and sleep.
Tl;dr: Don’t panic, be healthy, and maintain good personal hygiene.
- Make a plan – My broad topics cover family care, food, work, and resources.
- Communicate this plan – Tell your family and loved ones. Make your own list of 30.
- Healthcare/Insurance Check – Not a bad time to make sure you do have coverage and know your options for healthcare. I’d avoid going to hospitals “just to make sure” check.
- Medicine and first aid [Buy] – Check that you don’t have expired medicines and have a normal supply of cold medication, cough drops, bandaids, etc (like you should normally check every 3 months).
- Cleaning products [Buy] – Check that you have a regular amount of soap, detergent, dishwasher soap, rubber gloves, and wipes.
- Food and water [Buy] – Some non perishable canned and dry goods – not crazy bunker level, but we did get 6 packs of pasta, an extra bag of rice, and flour to have our bases covered for a month. Also remember olive oil, salt, and sauces (which are more of a 3 month check-in thing).
- Flashlights and batteries [Buy] – I don’t think this will lead to any blackout of electricity, but this is always good to check.
- Home Equipment [Buy] – You will likely work from home a lot more, so make sure you check this list of 30 Remote Working Tips to see if you need a better remote working setup. Lap desks, better chairs, lighting, and headsets are useful for conference calls.
- Do Not Buy Face masks – Unless you are sick or need it as a health professional. If you’re sick with similar symptoms, you should probably self quarantine.
- Unlimited MTA pass [Do Not Renew] – I’ll likely use this a lot less
- Frozen Food Prep [Cooking] – I can write a separate list of 30 for great frozen food meals you can easily prep. We did this in preparation for the first few weeks of parenthood and it was a lifesaver.
- Learning to Cook healthy and with diversity [Cooking] – You will be cooking a lot more frequently, so learn how to make different dishes from common resources. Time to flex that cooking arm.
- Update portfolio allocations [Finances] – Once there’s a 20% drop, there could be a 60+% market correction. I do not believe that we cannot time at least a part of the macro market movements. You may not call the bottom, but at least you won’t lose half your money.
- Buy some puts/shorts [Finances] – It kinda sucks that finance makes money in bull and bear markets, but your 401k and other distributions will likely suffer without careful reallocation. If you know how to trade, then there are some opportunities here.
- Loan Credit checks [Finances] – If interest rates continue to fall, there is a big chance of getting a very low interest loan and being able to have a big rebound play.
- Crypto Diversification [Finances] – I have not forgotten about you, Bitcoin and Ethereum. An untethered asset to the traditional financial markets is not necessarily “safe”, but you can consider your own level of direct or indirect cryptocurrency exposure.
- Work Communication [Work] – It’s best to figure out how to be productive and report your measurable contributions clearly to your team. What does remote working even mean for your position?
- Pivot Business Strategies [Work] – You’ve probably already thought about how the Coronavirus might directly impact your clients and their budgets to pay for your goods and services. It’s not a bad idea to change a product or selling strategy. This is probably a good time to reevaluate what a new landscape might look like with tighter budgets.
- Wash hands [Habit] – Soap and warm water for 20 seconds. Love that catchy song from John Oliver.
- Use Cloth Towels [Habit] – Stop wasting paper towel rolls for everything and wipe down counters with a cloth that can be washed more frequently.
- Take vitamins [Habit] – I haven’t been crazy about vitamins, but I don’t see a harm in some gummies and calcium/zinc in case I forget to eat a piece of fruit or something.
- Home Workout [Habit] – Spend 30 minutes doing something since you’re not commuting as much. Take a walk and drink some water.
- Personal space communication [Habit] – If you and your spouse/roommate are working from home (and worst case daycare gets closed), you will need to discuss with your family how to handle time together. This is solvable with good communication and respect for personal time and space.
- Clean your phone [Habit] – At least as many times as you wash your hands. If you’re going to wash them and then touch your phone right after then there’s no point. In fact, your phone is probably more important to be clean than your hands.
- Be creative with activities [Family] – Make good memories at home with the people you love. It’s a good time to play some board games or think of fun topics to talk about.
- Cancel trips – It’s fairly likely your wedding or big trip might be canceled. There might be some travel insurance to get a refund on some tickets, but these are probably backed up.
- Play a lot of TT before Spin closes – This would be a nightmare for me if Spin closed. Getting my fix in as much as possible.
- Stay informed – But don’t buy into sensationalism and emotional irrational panic
- Buy a bidet toilet seat cover if you don’t have one – I’ve had one for 8+ years. Saves on toilet paper. Heated seats and pure stream FTW.
- Check in with your parents [Family] – Preexisting conditions and elderly are at higher risk, so make sure to look out for your parents like they did for you.
~See Lemons Prepared