January 07, 2021

Joe Biden is President-Elect: Now What? Ep #27

18 minutes

Should you change your investment strategy now that Joe Biden is president-elect? Should you move your investments into a different asset class? Will the stock market tank with Biden in office? 2020 left a bad taste in everyone’s mouth and now many are worried about how 2021 will look with Joe Biden in office. In this episode of Retirement Made Easy, I share what I think you should or shouldn’t do. If you’re concerned about your future, give this one a listen!

You will want to hear this episode if you are interested in...

[1:40] Will Joe Biden’s presidency impact your investments?
[5:26] Adjust your tax strategy—not your investment strategy
[8:20] The Allianz Women, Power, and Money Study
[12:37] The goal for Retirement Made Easy in 2021
[13:48] Dare to go after your retirement dreams

Will a Joe Biden presidency impact your investments?

Some articles are saying to move all of your investments to gold because Biden is going to tank the company. Other articles are being shared about how the stock market has performed with specific presidents in office. A Forbes article that’s going around from September 2020—A Biden Victory And Split Congress Is Best For Stocks, But Here’s What Would Kill Markets After Election Night—is faulty. The research is comparing apples to oranges. How so?

It doesn’t compare an equal number of years with Republicans as president and Democrats as president. The sample size isn’t anywhere close. The stock market did well when Bill Clinton, Ronald Reagan, and Donald Trump were in office. We can’t say investments will be better based on a Democrat or Republican being in office. There is no crystal ball to time the markets.

What do I recommend you do? How can you adjust something—that isn’t your investments—to prepare for a Biden presidency? Listen to find out!

The Allianz Women, Power, and Money Study

The Allianz Women, Power, and Money Study asked women to share their feelings and concerns about their retirement. 49% of women in the study were worried that they’d run out of money and resources. It’s why you need to find a trusted financial advisor to walk you to and through retirement.

I have a new client who lost her husband right after the Covid-19 pandemic hit. Her husband handled all of their finances and investments, which left her in the dark when he passed. She was worried sick she couldn’t sustain herself. My job was to teach her the ins and outs of a retirement plan to get her through the next 30 years.

Don’t get caught up in the headlines

Everyone has different aspirations for their future retirement. We are all limited by the resources that we have. So you have to plan your dream retirement on the resources available to you. A great financial advisor can help you make your money last as long as you do.

Don’t get caught up in the headlines. There is so much negativity in the news. You have to put blinders on and focus on the long-term. Don’t lose sight of your dreams and goals because Biden will be in office in January. Your investments are meant to stand for years and decades.

The goal for Retirement Made Easy in 2021

I want to use this podcast to be a valuable resource to listeners. So moving forward in 2021, I will do a Q&A episode once a month. If you have questions, I encourage you to go to RetirementMadeEasyPodcast.com and submit a question. I’ll respond to you privately and with your permission will answer in the podcast as well.

Resources & People Mentioned