As I write this in mid-October, I am very hopeful that we have had a successful election, and that a peaceful transition of power has been able to take place in Washington. Unfortunately, I put those odds at a slightly less than 50% chance. The results of the election have permeated the thought processes and have been a motivating source of frustration for many investors throughout the second half of 2020. I am writing this article to encourage you – that the markets, although volatile, can handle whomever is elected President of the United States.
This is the first election in quite some time in which I’ve found it difficult to get a feel for the leaning of the American people. The results of the 2020 vote will give us all a good feel for where America is in terms of capitalism and “law and order” versus a more socialist agenda, and “law and justice.” I’m not quite sure where Americans fall in regard to these differing ideologies. Even the known socialist, Bernie Sanders, has been quoted saying, “Four years ago, my ideas were considered extreme; now they have become a mainstream movement.” No matter how the vote turns out, as long as America is still “America,” our innovative spirit of creation will continue to press on to move us forward to new heights of growth and technology. There may be a few speed bumps along the way, but overall, I believe the vast majority of Americans love the country they live in and the opportunities it provides for them.
Now that the election is (hopefully) behind us, I encourage us all to make the decision to be better in 2021. We need, as a nation, to start changing our mindset of pointing out the negatives and focus on the positives around us. We can choose to be better at everything in our lives: choose to make better health decisions, to be a better neighbor. Choose to be a better resident of our community and be a better parent. Choose to be someone who focuses on love, to turn off the news, listen to people’s stories and get to know them.
With regard to your investments, the results of this election are going to have real and definite consequences. It seems to be shaping up as pro-business vs. pro-worker – one is good for profits and economic growth, while one is better for employees and possibly worse for economic growth. As we sift through the election results, the amount of risk in your portfolio is something you need to address with your financial advisor. I encourage all MCM readers to focus on their “Decision 2021.” Has all the worry, anxiety and frustration we’ve experienced the last two years created any changes in the situation at hand or improved our quality of life? I would argue that it hasn’t, and I encourage us to decide to focus.
I will leave you with a lyric from a song by my daughter, Jaren LaGore, called “Brighter Side.”
“It’s our choice to see light in the dark, to look through the night, and only see stars.”
From my family to yours, have a blessed and Happy Thanksgiving.
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