I ran across this article that I had written during Trump’s first term back in 2020 during the Covid crisis. It was a similar period of heightened stock market volatility. People were concerned, and some even afraid. I think the same perspective on life and the long-term nature of markets is true now as it was then. I invite you to read the article again in hopes that the message resonates today.
Live your life. This is our company tagline and it seems to be increasingly meaningful this year. I know it does for your team at the Thigpen Group. Everything we do with this mission, is aimed towards putting you in a position to experience life to the fullest.
It’s a choice. We all need to be reminded from time to time that we must choose to intentionally live our lives. It is so easy to be distracted and derailed from this choice. Don’t be sucked in to all the things that can prevent you from living your life. You must keep a great perspective and focus on what really matters in life. Life is short. Every day is a gift from God to be lived to the fullest. Live it. Choose to “live” every day.
I am writing on the day that President Trump and the First Lady tested positive for Covid. This news broke around midnight and there has been a steady barrage of opinions and commentary to the potential implications of that. It’s been a long night for sure as I try to plan for all the families that we work with. Two predominate thoughts come to mind. One is of a financial nature, as hopefully you would expect from your fiduciary advisor. The other is more of a personal nature.
First the financial. All of our clients have a financial plan. This plan serves as the basis of our work and the framework in which you are empowered to make wise financial decisions. Every family’s plan is different but there are some common components that are fundamental to each. These common practices can serve you well no matter the economic, market, and political environment. I will summarize just a few of them again and trust you feel confident that these components are in place.
- Cash Reserves: Have enough cash to cover 3-6 months of living Any short-term goals (within 12 months) that will not be paid from monthly income is best to be reserved as well. Lastly, your unique “sleep factor” amount of cash needs to be carefully considered and adjusted where needed. This should take care of your short-term bucket.
- Intermediate term (2-5 years) bucket: These are goals that should to be funded and invested in conservative investments with little volatility. The time horizon is too short for these goals to be invested in long-term growth investments.
- Long-term bucket: Identify, quantify, and prioritize these longer term life goals and continue to save and invest wisely for them. (Not the focus on this month’s newsletter)
- Review of investment objective and corresponding risk tolerance. Your comfort level with volatility was tested this Spring. You should always be prepared to experience volatility. Having too much can cause even the most seasoned investor to contemplate reacting at the very worst time. Make sure you can tolerate the volatility your portfolio can experience.
If these fundamental components are in place, it can serve you well and provide financial confidence regardless of what happens in the next day, week, month, quarter, or even period of a few years. Having the confidence that these short to intermediate term goals are funded helps put you in a position to ignore the noise of day to day market volatility and news flow. You are less distracted and more able to “live your life” when thee have been sufficiently addressed.
Now, if you are still reading, the personal thoughts. As the late night news broke of the Trump’s positive Covid test, I was comforted to know that there is, and has been, and always will be a financial plan in place for you. We will continue to navigate whatever comes next to the best of our abilities. You continue to “Live Your Life”. I was also comforted (again like so many other times in this crazy year of 2020) by the thoughts that came to my mind from the words of the great old hymn, “How Firm a Foundation”. I will share verse two.
“Fear not, I am with thee, O be not dismayed. For I am thy God, and will still give thee aid. I’ll strengthen thee, help thee, and cause thee to stand. Upheld by my righteous, omnipotent hand”.
You may know that Kimberly and I became grandparents last year. These two baby girls have a special way of bringing the right perspective back to a crazy and what feels like a chaotic world. When I see their innocence and joy and simplicity of life, I get a glimpse into how far we can get away from those things. They help me choose to focus on what is most important in life. I know you have reminders as well. We all need them. See them and let the reminders help shape your views, keep your focus, and not be distracted by the noise of life that is meaningless. The meaning of your life is what life is all about. We are so grateful that we get to be a small part of that journey with you and your family.
Live your life to the fullest. Flourish. Live an abundant life and live it every day. Choose it today. Choose it tomorrow, and the next, and the next…..
Thank you for choosing The Thigpen Group as well. Let us know how we can best serve you as you live your life.
Scot
Scot Thigpen is the President of The Thigpen Group and has been helping clients plan their financial lives for more than 30 years. He is a lifetime learner and dedicated to continuing education that adds value to client engagements. His chief goal is to use his God-given gifts and experience to help clients “Live Your Life”.
What We’ve Learned From 150 Years of Stock Market Crashes
In her April 1, 2025, article for Morningstar, Emelia Fredlick explores 150 years of stock market crashes, revealing a consistent pattern of recovery and long-term growth. This historical perspective can help reassure clients during periods of market volatility by highlighting that downturns, while often unsettling, are a normal part of investing—and that resilience and patience have historically been rewarded. Click here to read more.
