Our Post-COVID Economy

Written by Jonathan H. Glaser, CFP® on 04 June 2021.

So, what have we won? What have we gained with our lockdowns, breakthroughs in vaccines, loss of life, the distances kept from friends and family? I hope a better world, but I'll settle for a safer today. Safer than this time last year, maybe not as safe as this time two years ago.

So, the world starts again. For myself, two Pfizer shots strong, I ventured off to see my eldest daughter in Kansas City. Later, I took a good friend to a BBQ restaurant in West Des Moines. (Big Al's new location on Grand Avenue - try it, it's good, and the owner and employees will be glad to see you.) Out of office client visits start next week. I'm only behind a few hundred visits, but it feels good to be busy in that regard.

So, what is out there? Certainly, the economy looks strong. It is amazing what a few trillion dollars of excess federal spending can accomplish. Housing prices are booming and prices for just about everything from lumber to microchips reflect a scarcity Americans have not experienced since the end of World War II.

For our economy, COVID was a pause button.

So, economic activity returns, but returns to a world not quite the same. Waiters pivoted during lockdowns and became Amazon delivery drivers. Insurance complexes will not be fully repopulating downtown. The big insurers have found they can do with fewer processors, and those they will keep will work from home.

Other businesses, such as Iowa Wealth Management, are seeing an increased need for their office space as clients are once again free to stop in and review their portfolios, update their financial plans or just say hello. As for me, I will be expanding my office hours while also hitting the road. Libby will do the same. It is going to be a busy summer with so many people to see and so much to catch up on. As much as I can, I am going to do just that, face to face.

I look forward to seeing clients again soon, hearing their stories, hopes, dreams and worries. Helping them build the future they want. Just as we did before COVID and are happy to now, Iowa Wealth Management returns to not just personal service but in-person service.