Are you ready for November?
The upcoming election was a popular topic during the BTWM Q3 Virtual Lunch Webinar. One of the questions I’ve been asked several times during the last quarter is, “What should I do about the election?”
Putting all political views aside, the upcoming election will have an impact on the economy. In fact, we’re already seeing it have an impact on the stock market. Over the course of a single month, three monumental shifts impacted the presidential election and the stock market:
President Biden’s debate performance
The attempted assassination of President Trump
President Biden withdrawing from the race
We don’t know what’s to come, but a calm and predictable next few months is unlikely. When uncertain times approach, have a plan in place and stick to that plan.
“The first rule of compounding is to never interrupt it unnecessarily.” - Charlie Munger
The economy remains strong, and despite relatively high inflation, the economy is still showing signs of growth. If your retirement account has been trending in the right direction, leading you closer to your long-term goals, why would you interrupt that progress?
With the majority of my clients being lifetime investors, staying invested in proven companies with rising profits and improving bottom lines has always been the right strategy. Ignore the noise and stay focused on your goals and the plan that’s moving you toward your goals.