As more and more of America becomes vaccinated, we can all shop at the grocery store without having to worry about the person behind us in the checkout line staying six feet away. I’m not going imply that I’ll miss the hassle and stress, as well as the worry, fear, and outright devastation, that the pandemic brought. And as I’ve said in other writings, it is unfathomable to try to envision the lasting damage that so many have suffered from the halt of the capitalist process.
As we return to “normal”, here are the main questions I see that Americans will be resolving in our transition.
#1 Recover or restart?
The people whose businesses were demolished by the shutdown, for example, face a perplexing decision. Do you try to recover what was lost, or is it better to cut your losses and start over with something new?
#2 Which measures stay in place?
The adoption of digital communications such as Zoom, telehealth, and electronic communications in schools was catapulted forward by force of necessity. It would be a shame, in some cases, to see us regress back to a less advanced way of doing things now that in person interactions are possible again.
Or would it not, in some cases?
This will remain to be seen.
#3 What is the impact on the younger generations?
For children in the nascent stages of their development (pre-schoolers), all the way to high school and (in some cases) college, the pandemic has caused gaps in the quality of education for a prolonged period of time, over a year in some cases.
This cohort is unlike any other in recent history. The impact has been more pronounced on students with the highest needs, such as ESL or special needs students, or those at critical junctures such as graduating seniors.
Will these delays be recovered easily, or will there be a lasting negative impact on our society from these challenges? On the other hand, there may be a significant advantage that this cohort has gained by being forced to adopt technology at an earlier age than they would have otherwise.
Summing it up
The world is changing, no doubt. As always, investment and financial planning decisions should never be made in a vacuum. If you have questions about anything pandemic related affecting your finances, or any other topics, please reach out.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.