Election season is over. Finally. Hopefully the ratings on cable news can now go down a little and we can redirect more of our attention to the important things of daily life. I haven’t spoken much about how the election will affect financial planning because quite frankly, I don’t think it will. Or at least, it won’t affect it in any way that can be foreseen or controlled.
The truth is, the person sitting in the Oval Office has very little if any impact on the stock market, and even less of an impact on how you can use money as a tool to live the life you want to live. Government is just one aspect of what drives our economy and the US is just one piece of the global economy driving productivity and innovation.
So if I can offer one piece of advice following the election season, it’s to change nothing in your financial plan. Focus on the same things you were. Thousands of variables will impact the value of your portfolio over the next four years as well as the next forty. We don’t know in advance what they will be or what impact they will have. We don’t know how investors will react to them or what ripple effects they will have. Turn down the noise of financial media. Stick to the plan that fits your life and focus on achieving it.