I recently attended two programs about COVID-19, one by a large investment
company about financial impacts and the second by a hospice educator at a local adult education center about social and
emotional impacts. While the two programs were entirely different in their
content, there was one thing they had in common.
Both programs stressed the importance of controlling what you can. With finances, this can
be done by monitoring spending and diversifying investments. Controllable
lifestyle actions include physical activity and grieving losses.
Below are my ten key take-aways from the two COVID-19 programs:
¨ COVID-19 Impacts Will
Linger-
The investment firm predicted that financial impacts from the pandemic may not
be behind us until 4th quarter 2021. The speed of economic recovery
will depend on the speed of vaccinations and herd immunity and “fear factors”
(i.e., when people start to feel comfortable going out again).
¨
Long-Term Scarring is Evident- There will soon be millions of
people out of work for more than one year as well as companies out of business,
and empty offices impacting commercial real estate markets. Pandemics are
local, as well as global, and recoveries will be different in different parts
of the country.
¨
Unknown Risks are Part of Investing- Unforeseeable events are
a fact of life. COVID-19 was a big one. Investment diversification is the best
defense against unknown risks. Experts recommend holding some stock and “riding
out” market downturns. If you are not in the equity market, you risk loss of
purchasing power in bonds and cash assets.
¨
Many People Feel Helpless and Frustrated- COVID-19 upended Americans’
lives and schedules. Several class members said they felt like “hamsters on a
treadmill,” on a continuous Merry-Go-Round, or that every day was “Groundhog
Day,” the 1993 film where characters get trapped in an endless time loop. Know that
you are not alone.
¨ Healing Starts by
Identifying Losses- Class participants were asked to write down the number of losses they thought
they experienced as a result of living with COVID-19. I wrote down 5. Then we
were given a worksheet developed by Opus Peace with a list of 50 losses
grouped into five categories (see below). When asked if their “number”
increased after completing the worksheet, every hand in the class went up. We
all lost more than we originally thought.
Physical Losses- Includes loss of
physical health, energy, sound sleep, income, housing, and independence.
Professional Losses- Includes loss of teamwork
among colleagues, social interaction, and personal space.
Mental Losses- Includes loss of brain
capacity, routine, ability to make decisions, and a sense of normalcy.
Spiritual Losses- Includes loss of role in
life, beliefs, innocence, spirit/vitality, and ability to feel gratitude.
Emotional Losses- Includes loss of
self-esteem, stability/certainty, social interaction, and planned future.
¨ Americans Experienced a
STUG- As
a result of COVID-19, we all experienced a Sudden Temporary Upsurge in Grief
(STUG). Research indicates that “those who grieve well, heal well” and that “you
can’t heal what you don’t feel.”
According to Opus Peace, “hope begins when we grieve the losses we have
experienced.”
¨ “Numbing” is a Frequent Response- People often try to “numb” themselves in stressful times. Numbing agents include shopping, alcohol and drugs, work-work-work, TV and video games, doing too much for others, stoicism, and staying busy. The problem with numbing agents is that people do not address their losses and grieve.
¨ Movement and Action are Powerful- There are ways to address fear, helplessness, chaos, and anger resulting from COVID-19 including singing, drawing, dancing, exercising, and writing. It is also OK to cry. Crying is healing. Don’t be a passive bystander and get squeezed out of your own life by the pandemic. Recognize good things that happen even if they are not what you planned. It is possible to experience peace and pain at the same time.
¨ Gratitude Helps People Heal- Research has shown that gratitude is powerful. It has been shown to improve physical and mental health, improve relationships, and even help people sleep better. One often-overlooked group of people to be grateful for is people who have lost their jobs. They have paid a terrible price to keep the rest of us safe.
¨ Words Matter- Poor word choices to
use with family, friends, clients, and students include “just get over it,”
“suck it up,” “it is what it is,” and “just stay positive” or to scold them for
their anger or despair. A much more caring and effective approach is to say
something like “tell me how you are hurting right now and how I can help?.”
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