Persistence Through Uncertain Times

Sgroi Financial
“Smooth seas never made a skilled sailor,” spoken by Franklin D. Roosevelt, reflects greatly on what our economy has faced these past months with COVID-19. This proverb symbolizes that easy situations never improve or make you better in life, but rather, the harsh conditions of life make a person tougher and more capable. The challenging experiences we face often give the best life lessons in return. As New York State phases through reopening, people will head back to their jobs, find new employment, and/or come out of the isolation that has consumed their lives these past few months. It can be an overwhelming time for some as the fear of the virus still looming in the news and other social media platforms. Dr. Ted Klontz, Associate Professor of Practice at Creighton University and leading pioneer in the field of financial psychology, recognizes that as we experience high levels of anxiety, we are additionally experiencing a 25%-50% reduction in effectiveness and efficiency in our daily lives. During this time, it is useful to reflect on what these trying times have taught us, as well as understand useful tips and tricks to help ease anxiety of the unknown.

What Have You Learned?

Were you more cautious with your spending vs. saving of money? Did you talk with your advisor about your financial concerns of the market volatility before adjusting the risk tolerance of your financial portfolio? Have you contributed more money to your emergency fund, or did you have to rely on that set aside money to stay afloat during these rocky times? Perhaps it is time to reevaluate what was spent and refuel that savings account. What are you doing different or the same, and are those techniques working for you? Maybe you’ve taken the time to care for yourself; learn a new skill, or a hobby that has assisted in lessening the anxiety and worry of the pandemic and economy.

Tips to Handle Anxiety

When you have a list of tasks to complete and are unsure of where to begin, start by completing one item at time rather than rush to decide how everything can be done at once. Anxiety can make multitasking a difficult process. It is important to remember to take time to reflect on your wellness and self-being during times of stress and uncertainty. Acknowledging your stress and that these are stressful times we currently are facing can help you to be mindful of your internal emotions. Reflect on your time spent during the crisis; how has this time transformed you and what can be done in the future to better yourself? Find things that you do have control over, what you can see, change, learn, and note the progress on the positive changes you have made. Learn a new hobby or skill to keep your mind occupied and focused on other thoughts rather than the persistent worry of what is currently happening in the world. Ensure you are getting enough sleep at night, exercise and eat healthy to keep your body well and fit. Our office continues to welcome clients for in-office appointments, as well as appointments over the phone for those who prefer this method. Together as a community, we have made it this far through the storm of COVID-19, and though it may be a slow process, we will reach the finish line.


Sgroi Financial is a full service, independent financial planning firm proudly serving the Western New York area since 1971. We offer services that will help you achieve your financial goals including retirement planning, investment management, estate planning, college planning and insurance. We help individuals, families, retirees, working adults, young adults and business owners.

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Securities offered through Cadaret, Grant & Co., Inc., member FINRA/SIPC. Advisory services offered through Sgroi Wealth Advisory Group LLC, an SEC Registered Investment Advisor. Sgroi Wealth Advisory Group LLC, Sgroi Financial LLC, and Cadaret, Grant & Co., Inc. are separate entities.

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