How has Covid-19 affected the economy in Westchester County? Have your kids in Somers, Katonah, Bronxville, Rye Brook, Yorktown or any other Westchester School district been suffering due to Covid-19? Have the 2018 tax cuts hurt or helped you? How has the change in the SALT taxes for high tax school districts like Scarsdale, Chappaqua and Briarcliff manor, affected your big picture? Are the presidential and local candidates prepared to deal with the issues that we are facing in our local economies?
It should come as no surprise that the economy is the most crucial issue in the upcoming election.
But here's something that may surprise you. More than 90% of investors say they plan to change their portfolio in the 12 months following the election.1
Some are preparing to adjust their stock holdings, while others are looking to adjust their bond positions. Some say they expect to boost their cash portion, while others consider doing "something else financially" as a result of the election.1
During each election cycle, it's common to see surveys that ask investors, "Do you plan to make any changes to your portfolio as a result of the election?" It's only the confident, bold, and patient investor who answers, "No. I don't plan any changes."
Second-guessing your investment strategy is natural, especially with an election on the horizon. Emotions are running high as investors consider each presidential candidate's positions and how they may influence the economy.
But this election cycle, challenge yourself to be confident. To be a patient investor who knows that investing involves risks, making decisions based on your goals, time horizon, and risk tolerance. Be the bold investor who knows that sound analysis should drive portfolio decisions, not a knee-jerk reaction to a current event.
1. HartfordFunds, “2020 Customer Election Survey”
The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
Election 2020: Be Confident. Be Bold. Be Patient
November 03, 2020|