Should you be worried about the Coronavirus?
This is a valid question to ask, especially given the fact that the Coronavirus is negatively impacting so many people's lives.
Globally, the number of cases and deaths related to Coronavirus are growing exponentially every day.
While I don't want to create unnecessary worry for you, I believe that you cannot be naive about a potential threat that could affect your life.
You should always expect the best, but plan and prepare for the worst.
Do you want to know what I am doing from a financial, business and health perspective to prepare for the Coronavirus?
Watch the video below:
(Click here to watch on YouTube)
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Coronavirus is negatively affecting my life.
Everything from my travel schedule to my business to my investments have taken a hit. However, it's important that you understand that the media likes to blow things out of proportion. Their job is to create fear and uncertainty in people. This is what gets attention and what, ultimately, incites you to watch their videos. In turn, they make more money.
The fear pandemic surrounding the Coronavirus is driving market sell-offs and other doomsday-is-here behaviors around the world, causing a form of mass hysteria. It's highly likely that the media is making the Coronavirus bigger than it actually is.
In the event that things do get worse, I want to make sure that I have a plan in place to protect myself in the following three areas of my life.
Finances
If you're an investor like myself, you may have noticed that the markets have been volatile as of late. In particular, the S&P 500 has experienced a 10-20% drop. If the market drops beyond 20%, it could trigger a recession. If this happens, the global economy will be affected.
Even though my investment portfolio has taken a huge hit this last week, I see it as a good thing. Why? Because it affords me the opportunity to buy more of the great companies that I love and believe in at a discounted price. Because I am a long-term investor, I know that I have time on my side. I can buy and hold, as long as I don't sell when my investments drop.
Warren Buffett once said that as an investor, you want to be “Fearful when others are greedy and greedy when others are fearful.” I believe that you can make a lot of money when there is a lot of pessimism in the market. When people are afraid, they sell their investments, which, in turn, drives down the prices.
I suggest that you plan to have 3-6 months worth of emergency money, in the event that the Coronavirus gets worse and affects your business or your job.
Business
Most Amazon sellers haven't been too affected by the Coronavirus. Nonetheless, you want to talk to your suppliers and prepare for the worst. If people can't work in their factories and manufacture your products, your business will be negatively affected.
This is why I suggest finding a backup supplier in a different country, like India or Vietnam. One great benefit of having an online business during a crisis like this is the ability to work from home. If I needed to, I could stay at home for months on end and I would be okay.
I have the freedom to change my location whenever I want. However, if your financial stability is based on a 9-to-5 job and going to a physical workspace every day, you are exposing yourself to more risk.
Health and Physical Well-being
When it comes to your health, the most important thing that you can do is to take care of your immune system. From what we know, Coronavirus has been affecting those who have a weak immune system or those who are elderly. You can always control what you put into your body.
Now is the time to make sure that you are eating healthy. More importantly, you don't want to live in fear or scarcity because that will also negatively affect your emotional well-being. As of late, I've been stocking up on a lot of supplements. In particular, ones that can help with viral or respiratory infections.
The three foods that help me when I'm sick or when I'm wanting to prevent myself from getting sick are ginger, onions, and garlic. In terms of supplements, Vitamin C is great to take, as are probiotics, multi-vitamins, and colloidal silver.
This is how I'm preparing for the Coronavirus.
At the end of the day, none of us can control what happens in our external world. However, we always have control over our mental, emotional and physical well-being. I don't live in fear of the Coronavirus. However, I believe that educating yourself about the potential effects of the virus is a smart thing to do.
I pray that the medical field is able to create a vaccine soon that prevents the spread and/or cures the virus altogether. However, until then, the best course of action is to expect the best, yet prepare for the worst.
What actions will you take to prepare for the Coronavirus?
Are you ready to master your time, health and energy? CLICK HERE to get instant access to my FREE 21-morning ritual habits cheatsheet!