Politics and Your Money
Today we live in a very fast paced, volatile, and ever changing environment. I would argue that the world is changing at the fastest pace ever! It is also my belief that because of the metamorphosis, many people are in a “panic” because everything they have known for decades is being uprooted right in front of their very own eyes.
Enter our current political landscape… with the rapid change in our world, many people are looking to our political parties or leaders for direction and help. I don’t think that they will find what they are looking for from any of our leaders. Things will continue to change quickly, and it will be up to us to evolve, adapt, and move forward in a positive, productive way to find ways to come together and get along in our community, state, and nation.
Back to politics and your money… do not get political with your investments and long term financial future! Before I go on, I’m not advocating that investors should bury their heads in the sand ignoring the market, economic, political conditions, etc., but I am saying don’t make decisions regarding your long term investment goals based on who or what party is in office… how about a couple of examples?
Photograph by J.E. Glaze
It’s no secret that Oklahoma is chalked full of conservative Republicans sooooooo… let’s go back in history to the Spring of 2009 when President Obama was in office, and the market had put in its bottom after a grueling collapse.
Do not get political with your investments and long term financial future!
Good time to invest, right? Republicans didn’t think so… they were worried sick about the market, economy, and President Obama. Guess what? It ended up being one of the best buying opportunities ever in the market. What about the flipside? Another example is in order.
Photo by Kayle Kaupanger via Unsplash
More recently, President Trump was elected in November 2016. On the whole, Democrats were not pleased, but guess what? The market rallied strong to the disbelief of Democrats and even some Republicans. Democrats who yanked their money out of the market missed an opportunity.
Now, to be sure, the market has rallied for several years and will correct at some point… probably even during the current administration. However, the point is still a valid one: don’t invest or not invest your money based on your political beliefs only.
Any opinions are those of Keith Holsten and not necessarily those of RJFS or Raymond James. There is no assurance any of the trends mentioned will continue or forecasts will occur. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected.
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