This is Red Five’s thirteenth weekly report detailing proactive steps you, your family, or your company can take to be prepared for the week ahead. This week’s report is co-authored with our trusted partners at Estate Space. This report represents work product derived from various reliable sources, and contains the most accurate information available at the time of print. However, it may be based in part upon information provided by third party sources, which may be subject to change at any time.
COVID-19 has forced individuals, families, businesses, investors, and family offices to re-evaluate how they can best help their local communities. Resiliency is not created overnight, nor is it created in a vacuum. Experts agree that resiliency is developed over time, and through experiences. It is built piece by piece, and we at Red Five believe it is based on five core pillars—awareness, mindset, fitness, skills, and relationships.
- Our piece last week focused on awareness, searching out reliable sources of information, so that you base important decisions for yourself, your family, or your business on reality.
- Some of our earlier pieces focused on having a growth mindset, maintaining both physical and mental fitness (and flexibility), and acquiring new skills as part of the “new normal” we are all facing.
We believe that community resiliency can be built one investment at a time. Investments can range from simple acts of kindness, to direct monetary donations. Investments can include supporting small businesses in your area, and creating microeconomies that keep neighborhoods afloat. No investment is too small to count.
- A recent article in the Luxembourg Times caught the attention of both Red Five and Estate Space. The article notes how institutions are evolving during the pandemic to serve not only their Clients, but also their communities; how private investors are stepping up to forge relationships and buttress community institutions during times of need. We assert that this too is part of the “new normal,” and we hope that this is something that will remain long after COVID is gone.
- The article states that, “for private investors to act effectively, they must be equipped with a comprehensive, reliable and readily available set of information concerning their financial and non-financial wealth, as well as debt levels.” In addition to awareness, mindset, fitness, and skills, investing in your neighborhood and your community helps support the fifth pillar of resilience—relationships.
- We encourage you in the month ahead to find ways as individuals, families, and businesses, to reinvest in your community and forge new relationships.