“Ooh, that’s fancy!” said Charlie’s friend when she discovered her espresso machine.
Before the pandemic, they met regularly at a local micro roaster coffee house to catch up on each other’s lives.
Now, like everyone else, they’re meeting online.
But Charlie always has a great coffee, one she made for herself, using her $700 espresso machine.
“Not so fancy, just being frugal” replied Charlie. “The lattes we buy from the beanery cost me $4.15.
Now, I buy their whole beans and get about 50 espresso shots per pound, that’s 25 lattes for about $25.”
Charlie figured out that she saved about $3.00 per latte. Replacing a daily trip to the beanery with
home-crafted drinks, the machine pays for itself in about eight months of once-a-day double-shot espresso drinks.
Not to mention the time saved.
Ralph Bender here for Enduring Wealth Advisors
Charlie’s espresso machine is just one example of adapting to pandemic living.
Businesses are adapting, too.
In my opinion, that is driving the stock market recovery despite record unemployment, continued disruptions, and ever-changing guidelines.
Another reason is the global focus on the disease.
Not only are central banks around the world doing a lot of economic things, but politicians, scientists, and billionaires are working together, and in competition, to identify viable solutions.
Right or wrong in their approaches, only the future knows.
Abraham Lincoln said: “Public sentiment is everything. With public sentiment, nothing can fail. Without it, nothing can succeed.”
Survivors always write the history and it will be written and then re-written as mankind moves from this crisis and on to future crises.
In the meantime, remember that each crisis spawns both threats and opportunities, and holistic financial advice monitors the situation, adjusting as needed to keep on course towards your long run goals.
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