This week I’m talking about investing in an election year. A lot of people are nervous about investing during an election year, and for good reason. Election years bring uncertainty, and the likelihood for changing policies, laws, and regulations. 

Today, I’m talking about the biggest mistake you can make in 2020, which is to make big changes to your investment strategy. 

Some people are so fearful about what lies ahead politically, that they make big changes to their investments. Allowing fear to dictate your decisions is almost always a mistake, especially when it comes to investing. 

So the worst thing you can do is abandon your long-term plans during or after a presidential election year. I know people on both sides of the political spectrum who think that the world is going to hell in a handbasket, but who’s right? Probably neither. 

As I’ve mentioned earlier this week, you need to pay attention to a few things and make some changes if necessary while you still have time - especially when it comes to taking advantage of today’s tax environment, but outside of planning and making sure you don’t have all your eggs in one basket with a particular stock and a particular industry, an election year is not a time to abandon your long-term plans by going to cash or putting everything in canned food, gold coins, and lots of guns.

While it is natural and normal to want to protect yourself in times of uncertainty, keeping a cool head and thinking rationally will always help you make smart decisions that don’t include abandoning your long-term strategy. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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