Election Day is behind us but the results for this year’s vote are still unclear. As unusual as the 2020 election has been, there are some surprising parallels to previous years. Join us as we go through those and then discuss what we can be doing from a planning standpoint during all the uncertainty.
Click play to listen to the episode…
If anyone was hoping for some voting resolution shortly after Election Day, they’re going to have to wait a bit longer.
As we begin sorting through the results of the election and determining how it impact planning in the future, there’s still plenty of uncertainty. Two days removed from polls closing and we still don’t know for certain who will lead the country for the next four years.
So we can’t provide as much planning insight on this episode as we had hoped, but we have it on the agenda for future episodes. Make sure you hit subscribe on the show if you haven’t yet so you won’t miss those conversations.
In the meantime, there’s still plenty to talk about. In this post-election edition of Your Money and Your Life, we’ll look back on a couple other noteworthy elections and talk about the parallels to 2020.
Have you ever heard about the election of 1876? It’s not talked about much but a lot happened that year that would sound familiar today. For starters, the voting turnout that year was a record 80+%. This year won’t match that number but it could be the highest total number of votes this country has ever seen. Also that year, there were three contested states – Florida, Louisiana, South Carolina and Oregon. They came to a unique resolution, which Don will tell you about during the show.
So what can we be doing with our financial plan while we wait for the dust to settle? Well, qualities like patience, perspective and prudence are extremely valuable. At some point we’ll get through the election issues and the coronavirus issues and we’ll still have a need for good planning. Make sure you take the necessary steps to be prepared for that.
Hopefully by the time the next episode rolls around we’ll have more answers than questions and we can talk more about planning. Until then, take care and stay safe.
Listen to the entire episode or click on the timestamps below for a specific segment.
[0:29] – Election Day has passed
[2:30] – Will be a while before things get settled
[3:50] – Similar to the great election controversy of 1876
[7:17] – So how was that election resolved?
[9:52] – What planning considerations do we need to have during all this?
[12:59] – What do we do now?
[16:17] – Gaining that peace of mind for your future
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Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in long term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs. He advocates a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.