6 Encouraging Signs During This Difficult Market

Countless businesses have scaled back or even closed during the COVID-19 pandemic, leaving us all to wonder: will we ever recover? 

We will recover, but we have a long road ahead of us. The economic effects of the pandemic have caused many to lose confidence in rebuilding. On top of that, it seems as though we have another round of discouraging news every day. However, there are positive signs all around us to keep our spirits up and our eyes looking forward. Here are six encouraging signs that keep us hopeful. 

Positive Trends Are Beginning to Emerge

We’ve all searched for signs that the pandemic could be coming to a close. According to the CDC in July, the percentage of deaths attributed to pneumonia, influenza, or COVID-19 decreased from 8.1% during week 27 to 6.4% during week 28, representing the twelfth week of a declining percentage of deaths due to PIC. While the percentage is still currently above the epidemic threshold, there is a chance it can change as more death certificates are processed.

States are Beginning to Reopen Their Economies

States across the country have begun to deploy reopening plans, giving their residents a returned sense of normalcy. We’re seeing a positive response from the market, even as businesses open at lower capacities and follow social distancing guidelines. Devastated industries such as food, hospitality, travel, and real estate, are all seeing an increase in their numbers, giving us hope that they can now begin to recover. 

People are Helping Everywhere You Look

In any crisis, it’s always encouraging to look for the helpers. Fidelity Charitable recently held a survey to understand how COVID-19 would affect charitable giving. The survey found that 25% of donors planned to increase donations, while 54% of donors planned to maintain their giving levels. Since the beginning of the pandemic, 10.9 billion dollars worth of grant funding has been distributed.

Of course, charity work is more than financial. There has also been a significant rise in volunteers across the country who have donated their time for everything from grocery runs for the elderly to working in coronavirus testing centers for underserved communities.

Changes to the PPP Loan Will Help Small Businesses

After releasing the CARES Act, a 2.2 trillion dollar relief package, the federal government is loosening restrictions on the package’s Paycheck Protection Program (known colloquially as the PPP Loan). Small businesses were struggling to make the previous conditions work to their advantage. In response, the House has passed a bill to modify the loan’s restrictions, allowing small business owners more flexibility in how and when they spend the funds.

Gas Prices Are Down

Though they’ve begun to rise, gas prices were the lowest they’ve been on Memorial Day weekend since 2003. These prices are providing relief to families who are struggling financially as well as motivating others to travel—safely—for day trips and outings, helping to stimulate local economies.

Historically Speaking, We Will Bounce Back

In past financial crises, when the S&P 500 dropped more than 10% in the first quarter, it has created an environment of growth for the remainder of the year. According to Larry Adam, Chief Investment Officer of Raymond James, 83% of the time the market has rallied after a drop, it was up by 40%. History tells us that we will ultimately come out of this time stronger than we went in. 

Are you hoping to strengthen your finances in this market? Contact us today to discuss how we create a sensible strategy to reach your highest financial goals.

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Jeffrey T. Dobyns


President, SageSpring | Financial Advisor, RJFS 

Jeffrey T. Dobyns

President, SageSpring | Financial Advisor, RJFS

Beyond crunching numbers and investment strategies, at SageSpring, we’re about building relationships. When you encounter Founder & President of SageSpring, Jeff Dobyns, it’s easy to understand why this is at the very heart of who we are as a firm. You won’t find stuffy formalities with Jeff; instead, you can expect to find him sharing a warm smile, communicating a compelling vision, or patiently untangling life’s complex challenges with clients. He believes in truly getting to know clients, understanding their aspirations and priorities, and navigating their financial plans with a tailored, comprehensive approach. Our team members have often been caught taking notes on Jeff’s effortless relationship skills from a distance, and we admire them for striving to learn from one of the best. 

Jeff’s financial expertise and wisdom are the perfect match to his innate people skills. Jeff holds the prestigious CERTIFIED FINANCIAL PLANNERTM certification, Chartered Life Underwriter (CLU®), and Chartered Financial Consultant (ChLU®) designations, and has held executive positions with financial planning firms for more than two decades. 

His dedication extends beyond the office to the boardroom and the local community, where Jeff is passionate about giving back. He serves as Chairman of the Board of Men of Valor, a prison ministry and mentoring program. Jeff also serves on the board of Send Musicians to Prison, which shares hope, healing and restoration with the imprisoned through musicians & artists. Jeff actively supports other initiatives in the community by sitting on the board of The Signatry of Middle Tennessee and the Halftime Institute of Nashville. 

Witnessing his four children, Gracyn, Hunter, Tanner, and Logan, excel on the field is almost just as rewarding, if not more, than celebrating the victories of seeing his clients overcome obstacles and build wealth. Spending weekends boating on the lake, hiking mountain trails, and fishing with his family are the moments Jeff cherishes most. It’s this grounded perspective that reveals the true meaning of wealth for Jeff: not just numbers on a page, but the freedom to create experiences that enrich your life and the lives of those you love. When you choose the Dobyns McMillin Wealth Team, you choose more than financial expertise. You choose a partner who champions your dreams, celebrates your victories, and walks besides you on the path to achieving your unique goals.

**Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER TM, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.