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How Will The Upcoming Election Affect The Stock Market & Your Retirement? Thumbnail

How Will The Upcoming Election Affect The Stock Market & Your Retirement?

Market

Hello, this is Jeremy Finger with Riverbend Wealth Management. I've had many clients and people been asking, "What am I supposed to do in this election year?" There's been so much drama. There's been so much going on this year and and so how do I know that I'm gonna be okay. So we're gonna go over a few different things that you can do to make sure that you're protected.


Here is a quick video that will go over: 

01:20 - How the markets have done during each of the past presidencies

02:00 - Top mistakes people make during election years 

04:15 - What 3 things you can do to protect yourself


Okay, so number one it's like well, what if my guy wins? Okay great. Well what if my guy loses? Oh, that's awful. So thinking in terms of not getting too emotionally attached to your point of view. Okay taking a step back and looking a longer term point of view because guess what, whether your person wins or loses the world will still go on and hopefully if you are here, you still gonna need your money to get retired and stay retired. Am I right? Sure, so think about this on a bigger scale here. That
no matter what political party had the presidency over the past 100, years but this is since 1961. You've done okay. John F, Kennedy, over 12. Johnson, over 10. Nixon had a little tough time. Gerald Ford with extremely high interest rates and Vietnam. Jimmy Carter, Ronald Reagan, you name it. Now some of you may have voted for their opponent, some of you may have voted with the person who won. Now to whipsaw your investments because your guy didn't win or your lady didn't win isn't a good way to invest money. Okay. I have known numerous people that have changed their investment philosophy
and it really hurt them. I know somebody who became more conservative when Trump got office. It cost him three or four hundred thousand dollars. I know somebody who sold out when the DOW rebounded to 12,000 after Obama was in office, hoping it was gonna go back down to 10,000. It didn't work out for them and so you've gotta be so right on the sell and so right on the buy to be able to time it to where it's going to work out in your favor. Guess what happens if you get lucky enough to to do those two perfect things? Well you're gonna think you're gonna be able to do it again and so that's the equivalent of someone going to a casino and pulling on the slot machine and winning and saying "You know what, casinos are great investments." They're only good investments if you own
the casino, okay? It's not good to be a participant in the casino, all right? So keep in mind long-term picture here. It is that is that we're going to need to be able to live no matter who gets elected all right. Now, when you're seeing the stuff in the media and and and all the news that's out there
it is by design. That it's crazy. I mean people watch the weather channel when there's a
hurricane. I mean, do you watch the weather channel much when it's sunny outside? No, right, so it is by design that drama is added and yes we've had our share of drama this year.

So what can you do today to help you navigate this year? All right, number one, review your plan and review your investments if you haven't done so already. Jeremy, I mean isn't there some magic bullet? No, there's not a magic bullet, okay? I mean you want to lose weight, guess what you do? You eat better, then exercise. There you go. Now obviously review your plan. Talk to somebody qualified, okay? Another thing that you can do is to, is that if especially if you're taking income, make sure you have about a year's worth of cash set aside so that you have a cushion on your on your on your needs
so that if something comes up you have access to cash, all right? All of my clients have that and so I
really make sure that's set up right, but if you've got good investments and your plans reviewed and you get cash you know at least a year's worth of cash on the sidelines and your investments are good you're gonna be okay, all right? One of the best exercises you can possibly do for many people, turn off the tv spend more time with, your spouse or your, wife or your girlfriend or your
boyfriend or whatever have you, get out enjoy the weather okay. Live your life, don't worry so much about this stuff. If you've done everything you can then don't worry about it. You did everything you can if you haven't done everything you can.

Give me a call. I'd be happy to answer any questions you have. I'm here for you. 843-222-6602, 843-222-6602.

Thank you very much and God bless you.