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    Edward T. Creagan, M.D.

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  • Oct. 11, 2008

    Take care of yourself and each other to weather perilous times

    By Edward T. Creagan, M.D.

10 comments posted

We are humbled each day by the insight, the courage, and the perseverance shown by you, our community. Yes, we do learn from each other.

These are perilous economic times. Markets around the world are unraveling. Comfortable retirement plans are dissolving. Some financial analysts comment that many of us have lost at least a third of our portfolio value. But this is not simply a question of numbers. It is a question of lives and dignity. Let me explain.

One of our colleagues had relied upon 403(b) investments to provide a comfortable retirement for his aging mother. An appropriate rest home had been picked out with excellent resources. The mother was looking forward to this transition. Now, however, all plans are on hold and where she may go is unclear. Just think about the anguish of that situation.

Many of us have little insight into this financial crisis and why it occurred and I for one do not have any financial expertise, so what do we do? What we can do is focus on what we can control. In other words, if we take care of ourselves, recognize a "higher power however we may call that power," and recognize that there are global financial events over which we have no control, perhaps the days will be less fretful.

I am certain that to some extent these financial upheavals occurred in the past, but in the days prior to globalization and the Internet, most of us were not aware of them. I monitor my accounts, but certainly do not become completely fanatical and log on several times a day. It is not good for my health.

Some wise individuals have stated that attitude creates reality. As we think, so we become. To be appropriately optimistic, to seek out the counsel of family and friends, and to take care of ourselves will help each of us weather these perilous times.

Is there anything that I am missing?

10 comments posted

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Oct. 11, 2008

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