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W W W. M A I N E B I Z . B I Z 19 M AY 5 , 2 0 2 0 F O C U S W E A LT H M A N A G M E N T / R E T I R E M E N T Take advantage of the moment Reinfried says that, like budgeting, making sure an estate plan is in order is something people aren't always comfortable talking about. Now is a good time to give an estate plan some attention. Making sure that an estate plan is in order includes not only making sure wills and beneficiaries on invest- ment counts and insurance are up to date, but also make sure documents are in place, she says. Even small life changes can make changes neces- sary. "We ask people to review their estate plans every five years," she says. ompson says it's also a good time to take advantage of the market decline and convert tradi- tional IRAs to Roth IRAs. In general, he adds, "Take advantage of this time and find an advisor you feel comfortable working with." This too shall pass While it's an unprecedented time, advisors say that their advice to clients hasn't really changed. "A significant part of our role in clients' lives is to identify and manage risks to the greatest extent pos- sible, even when the markets are moving in the right direction," Andreoli says. "We can't always see risks coming, but we can help clients prepare for volatility, whether it comes from a health or financial crisis. Alexander says, "In many ways, the counsel that we provide during this crisis should not be mean- ingfully different than any other bear market and recession. Simply put, the principles of successful investing through inevitable market cycles has not been rendered obsolete due to the virus. "Exercising professional humility and personal empathy are essential, especially during times of duress," he adds. ompson's firm is checking in with clients. "We are calling our clients, listening to them, and empathizing with them," he says. "All of them are in different situations with this pandemic." Andreoli offers one last vital piece of advice: "To the extent possible, relax and enjoy your family and good health. is, too, shall pass." Reinfried says that those investing in the stock market are optimistic by nature. "You have to believe in growth and that things are going to be better over time," she says. M a u r e e n M i l l i k e n , M a i n e b i z s e n i o r w r i t e r, c a n b e r e a c h e d a t m m i l l i k e n @ m a i n e b i z . b i z A R E Y O U R F I N A N C E S K E E P I N G Y O U U P AT N I G H T ? G E T A F R E S H P E R S P E C T I V E F R O M A N T O N L E M I E U X . AntonLeMieux.com Anton LeMieux Financial Group | Foreside Place, 202 Route One, Falmouth, ME 04105 Securities offered through Commonwealth Financial Network ® , Member FINRA/SIPC. Investment advisory services may be offered through Commonwealth Financial Network ® , a registered investment adviser. Falmouth, ME I Daytona Beach, FL I Naples, FL Eric Anton culls actionable insights from complex data—and conversation with clients. John LeMieux is a master of the big picture— the interplay between finances and real life. Together, they have over 50 years of experience advising successful families at every stage of life, from Maine to Florida and beyond. For a fresh perspective on your financial plans during this uncertain time, call (207) 899-4248. P H O T O / C O U R T E S Y R . M . DAV I S Geoff Alexander Geoff Alexander, CEO , CEO of Portland-based of Portland-based R.M. R.M. Davis Davis, cautions: "It's , cautions: "It's human nature to feel human nature to feel the pain of a 10% loss the pain of a 10% loss more than the pleasure more than the pleasure of a 10% gain." of a 10% gain." Exercising professional humility and personal empathy are essential, especially during times of duress.

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