What are some of the economics surrounding an election year? How will our president impact our economy? Let’s talk about the 800-pound gorilla in the room as we head into the final quarter of 2020.
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As we gear up for the election, is there anything you should be doing? Many people are asking how they can make a wise decision now ahead of whatever is to come following the election results. Are you stressed about your finances this election year?
First let’s ask, what do the polls say right now? What impacts those numbers? This has been a big year–from coronavirus, to the market volatility, to unemployment numbers. What else could happen between now and the election day? And what will happen directly after the election?
Then let’s look at the past several elections. How has the market reacted? What presidents are known for a strong economy? And ultimately, how much impact does the president have on the markets? Don shares a bit of a history lesson on our government.
Why don’t we have a national response to certain things like masks or voting? We have to look to the constitution. The constitution gives vast power to the states, which means the governors play a key part in these decisions.
Before you worry too much about your investments as it relates to the election, remember that investing is a long-term process. There will be ups and downs over the years, so make sure you have a financial plan that you feel comfortable following.
Listen to the entire episode or click on the timestamps below for a specific segment.
1:39 – What does it take to go boating these days?
4:31 – What should investors and retirees be doing leading up to the election?
6:12 – What do the polls indicate?
11:17 – How do the markets react?
16:04 – Why do we see the economy working independently of the presidents?
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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.