Jeff Holler, a financial planner and president of wealth management firm The Capital Chart Room, says he “understands the angst that people are experiencing.”
“Many in the world are in a panic right now because their security is in their financial and material wealth,” he said. He’s seen personal losses in this market correction himself, but isn’t experiencing the angst or anxiety of uncertainty as the crisis drags on, because of his views on wealth.
Holler often advises younger clients about creating a plan for financial freedom, and before anything else, he starts with the idea that we are simply caretakers.
“The first advice I give,” Holler wrote, “is to treat our financial resources as we do all the personal gifts, talents, and resources with which we have been blessed by God. As such, we should strive to manage our personal finances from the perspective that we don’t own it, God does. We are simply caretakers over all of which he has given us domain.”
So amid the losses, Holler and his wife have kept their spirits up, because they are thankful for their blessings.
“We still have our home, and income, our health, and the health of our children and grandchildren, in addition to a lot of other blessings,” Holler wrote in an email. “We have much for which to be immensely grateful, and we are thanking God often!”
“Overall, one thing people can do while social distancing is to take some time to contemplate, reassess, and pray about how they are doing as a good and faithful steward,” he said. He refers to stories, too, as there are many that show a stark contrast between those who “accept and give all of God’s blessings with open hands” and those who “grasp and hoard.”
He has seen these stories play out in his community as well. Holler and his wife are taking the opportunity to give more monetary gifts to ministries and charities during this time, because there will be cutbacks.
“Maids, busboys and busgirls, waiters and waitresses, ticket takers, concession workers—all of those who are the first to be let go when their employer is cutting back—are the ones who will suffer the most from this economic setback,” he wrote. He urged them not to hesitate to reach out to their local ministries for help.
“In our community, we have food pantries, night shelters, and the Salvation Army—all of which do a fabulous job helping those in need. Our church also has an emergency fund to help those in crisis. Our daughter and son-in-law have a Tough Tots Fund that helps families with children in medical crisis and the health care workers that serve them.”