Mar 21, 2020 4 min read

I had another column planned for today, but events of the past few days have taken me in another, more important direction.

It is Sunday morning and I’m in my office, two days after the president declared a national emergency. My phone has been receiving text messages from friends and family with concerns and questions.

I have just texted my employees that our office will not be open to the public until March 30. I have asked those who have laptops to work from home. I finished posting on Facebook our new office procedures and advice on how to manage your accounts online.

We understand that life must go on. We will continue to answer the phone, reply to texts and emails. So, now I hope this column reaches you in a timely manner.

I read online that inquiries into purchasing life insurance were up 29% since the president’s address. It is not too late to purchase life insurance. If this epidemic is the motivator for you to purchase needed protection for your family, do not hesitate. Reach out to a life insurance agent immediately.

If you are concerned about the market and your investments, do not panic. If you are upset you did not time the market correctly and sold, relax. Few of us did. I remember when 9/11 occurred. We were angry and afraid, but we rallied as one nation and persevered. This challenge to our nation is more frightening because of the unknowns. The market and our nation will respond to the challenge.

I worry about the small business people who rely on providing service, but because of responsible actions by their customers, those services will be put off or – worse – not be provided. Does that business person have an emergency fund to see them through?

I have thought about those who are sick and may not die. Do they have disability insurance? Will their employer continue paying them? Again, this may be the motivator to start an emergency fund or purchase a disability policy.

I also have no room for politics right now. If you start your conversation finger pointing, I turn you off immediately. This is a unique situation and all I want to know is what to do going forward.

Tonight, we have a family dinner planned at our home. The seven of us will gather and share a meal. I plan on leading a discussion on all the concerns this crisis has brought to my family. I intend to address things we have not planned for, things we did plan for and things we can’t plan for.

I urge you all to take time and look at the small picture. Are you and your family safe? Are you following the advice of the professionals and limiting contact with others? Do you know the signs that you may be infected and what you should do? If you know someone who is in danger (over 60 or with health problems), have you checked on them?

Do you have a will? Is it current? Does your family know where it is? Have you added or updated beneficiaries to all your financial accounts?

I have little faith this emergency will be over by the time this column is published. I hope it will inspire you to not despair. All of us need to go forward, deal with today, plan for the future and forget the past.

As always, if you have concerns, reach out to your professional adviser, who is ready to help you in this difficult time.

Bob Hollick is a State Farm Insurance agent based in Washington.

To submit columns on financial planning, investing or business-related matters, email Rick Shrum at rshrum@observer-reporter.com.