May 2025

Dear Joanna,

What makes us feel most alive is not what we possess, but our capacity for vitality, curiosity, and spontaneity." ~ Esther Perel

From politics and market volatility to climate emergencies—panic-inducing news dominates every screen, homepage, and social feed. Media outlets and politicians have mastered the art of commanding our attention with alarming headlines and dramatic updates.

But how much focus should these distant events actually command? Our hunter-gatherer brains, evolved to detect threats, struggle to ignore this constant "urgent" stream. This once-essential survival feature now pulls our psychological energy away from what truly matters in our immediate lives.

At Esther Perel's NYC conference last month, I found myself oddly comforted by her message: experiencing joy isn't just permissible during difficult times – it's vital. There's a peculiar guilt that accompanies moments of personal happiness against the backdrop of collective struggle, but Perel insists on radiance as a form of resistance. Even surrounded by darkness, our capacity for vibrancy, curiosity, and spontaneity isn't just an indulgence – it's evidence of our stubborn, beautiful aliveness.

This perspective aligns perfectly with Oliver Burkeman's advice to "stop living inside the news" and instead make your immediate world your psychological center of gravity. Burkeman encourages us to prioritize the tangible reality of family, friends, neighborhoods, and creative projects over the distant realm of presidencies, governments, financial markets, and global emergencies.

In my work as a wealth advisor, I witness these principles transform lives repeatedly. Clients who anchor their psychological center in their immediate world—rather than being pulled into the daily news psychodrama—develop inner stability and find vitality in meaningful experiences. This grounding allows them to respond to market volatility and global uncertainty with clarity and purpose, rather than reactivity or fear. The truly prosperous life isn't merely financially secure—it's anchored in what matters most, enabling thoughtful decisions aligned with your deepest priorities, even amid turbulence.

In this month's newsletter, we'll explore how Warren Buffett's enduring investment principles demonstrate the power of psychological centering, especially as he steps back from leadership at Berkshire Hathaway. I'll share practical steps you can take to maintain your focus during market volatility, and introduce you to a crucial resource about staying grounded in what's real. Plus, in my Personal Corner, I'll tell you about my recent experiences on Broadway and in the dance studio—both perfect examples of finding aliveness in our immediate world.

Dream. Plan. Prosper.

FINANCIAL WISDOM: THE POWER OF STAYING INVESTED

Why This Matters Now

April's extraordinary market volatility – the S&P 500's worst two-day stretch since March 2020, followed by its third-largest one-day return since 1987 – demonstrates how easily market drama can hijack our attention, pulling our psychological center into a realm of financial anxiety.

Dimensional Advisors' "The Longer View on Stocks" perfectly illustrates perspective's power: while a single April day shifted the one-year return from -2.9% to 6.2%, the five-year return barely moved (14.0% to 16.4%). Remember, even investors in their 50s or 60s have investment horizons spanning decades, not days.

This is where Warren Buffett's approach shines, offering a timeless reminder of the importance of patience and emotional discipline.

The Buffett Legacy: Wisdom from the Oracle of Omaha

"Who is the greatest investor of our generation?" Ask this question anywhere in the financial world, and an overwhelming majority would answer: Warren Buffett. His recent announcement that he's stepping down as Berkshire Hathaway's leader is the perfect moment to reflect on his timeless wisdom – advice that, while widely admired, is surprisingly not followed by many investors.

What makes Buffett's approach so powerful is that it requires precisely the psychological centering we've been discussing. His most valuable insights aren't about complex formulas or insider knowledge, but about maintaining perspective and emotional discipline:

On Index Investing: "By periodically investing in an index fund, the know-nothing investor can actually outperform most investment professionals."

On Market Predictions: "We have long felt that the only value of stock forecasters is to make fortune-tellers look good."

On Short-Term Thinking: "Short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children."

On Temperament vs. Intelligence: "Success in investing doesn't correlate with IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people in trouble investing."

On Market Volatility: "The stock market is a device for transferring money from the impatient to the patient."

On Tariffs: "They're an act of war, to some degree ... Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!"

These time-tested principles guide my approach with clients: focusing on fundamentals while maintaining the psychological discipline to stay centered during volatility. This approach creates both better financial outcomes and the peace of mind that comes from being anchored in enduring principles.

Steps to Implementation

Start Today:

 Practice presence pauses: Before checking market updates or financial news, take three deep breaths and ask, "Does engaging with this information serve my long-term financial and life goals?"

 Define your "immediate world": List the relationships, activities, and spaces where you feel most alive and connected. Consider how your financial decisions support these aspects of your life.

 Review your investment time horizon: For each investment account, write down its actual time horizon (often decades, not days), and consider whether your attention to it matches this reality.

Next Steps

 Create a "noise reduction" strategy: Establish specific times to review financial information, rather than consuming market updates throughout the day.

 Align financial goals with relationship goals: Schedule a session with me to ensure your investment approach supports your most meaningful relationships and experiences

WORTH SHARING

I find Oliver Burkeman's perspective on navigating our complex world refreshingly practical. His latest article, 📚 "Reality is right here", offers a compelling reminder to keep our "psychological center of gravity" in our immediate world.

WHAT I'M DELIGHTING IN ...

Evening on Broadway with my favorite people - my adult children - watching George Clooney's directorial stage debut and starring in "Good Night and Good Luck." In an age where truth often feels negotiable and institutional trust erodes, watching Murrow's unwavering commitment to facts and ethical journalism felt both inspiring and urgently relevant.

Dancing with Laura, my longtime dance teacher, in the Hudson Valley – for those joyful moments, the dance studio became our immediate world, filled with vitality and spontaneity – the very qualities that make us feel fully alive. A beautiful reminder that cultivating joy and movement isn't indulgent - it's necessary for living fully.