By John McBride
The 2020 election is right around the corner, and in this highly partisan environment, I feel it is important to share my thoughts and give a little perspective.
Let me begin by providing a little political background of my own. I am a registered Independent and have not been affiliated with a political party for many years. I have voted for candidates and initiatives on the Republican, Democratic, and third parties ballots at the federal, state, and local levels since I reached voting age several decades ago. In this polarizing political climate, my conservative Republican friends think I am a liberal, and my liberal Democratic friends think I hate puppies – none of which is true.
Here’s what is true: I am a patriot, one who loves this country and the people in it, but I am also one that is frustrated by the current extremism we are facing– on both sides of the political aisle – and to be frank, extremism in many other areas. It feels we have reached an era in which extremism is the new standard. My personal vision is to be the best version of myself and help others to do the same, and I find that I cannot be successful in that endeavor by clinging so instinctively to my viewpoints, preferences, and opinions only. I usually need to listen more than I speak and seek to understand others better. There are good people and causes on both sides of most arguments. One of my mom’s favorite sayings was, “If you have a problem, YOU are part of the problem.” Mom was right.
What Does This Have To Do With YOUR Finances?
Why am I reaching out to share my thoughts from an Investment Advisor capacity? It’s simple – I care deeply about my clients and their financial future and prosperity is a priority to me– they have spent a good portion of their life dedicated to hard work to fulfill their dream and goals – that is what matters most! I do not want my client’s emotions, and as a result, the decisions that could occur after the upcoming election to have detrimental effects on their future.
Let me try and speak wisely to both “competing” parties. No matter what happens on Tuesday, November 3rd::
- To my conservative Republican friends: If Joe Biden wins, our country will be fine, and YOU will be fine!
- To my liberal Democratic friends: If Donald Trump wins, our country will be fine, and YOU will be fine!
Our country has been in existence for over 240 years. We have had 44 different presidents (45 presidencies), we have been through several presidential assassinations, multiple world wars, deep economic crises, several cultural dilemmas, numerous natural disasters, as well as many other political, social, and macroeconomic difficulties. The common denominator throughout all of this, is that we are resilient.
I know every partisan has their opinion, but at Stewardship Wealth Advisors, we stay objective and seek to understand the facts. As fiduciaries, we are required and committed to making decisions in our clients’ best interest. What data tells us is that over the last 100 years, there is no correlation between which political party is in power and important quantifiable economic indicators such as Gross Domestic Product (GDP) growth and stock market performance. (JP Morgan Asset Management Guide to the Markets, Slide 37)
A Broad View
It is my belief and important to remember that our economy and the related stock market performance is not driven by elected officials. The health of our economy is driven by the freedoms instilled by our Constitution and hardworking individuals and entrepreneurs, such as yourself.
We do not currently know who will be our president come Inauguration Day on January 20th, 2021, but what we do know is that regardless of whether that person is Donald or Joe:
- Our first responders will get up and do their best to serve and protect us and this is a freedom provided to us knowing safety is close at hand
- Our teachers will work with our children to help them become better individuals and eventual citizens participating in the events we are currently discussing.
- Hardworking Americans, you included, will go to work every day as they always have and give their all.
- Entrepreneurs like Jeff Bezos and Elon Musk will work on providing same-day delivery and battery technology, among other advancements we haven’t even thought of yet. Others seek to improve medical advancements, in both technology and treatment, that will make our lives and our loved-one’s lives better one day.
Come election day whether you get the outcome you want or not, my request to you is the same. Take a step back, turn off the TV, stop reading the polarizing articles, and relax. Try to focus on what unites us rather than what divides us. If we have learned anything recently, it is that we can’t predict the future, so we need to focus on what we can control. In this case, it is your commitment to your long-term plan, discipline to avoid emotional investing, and personalizing your portfolio to your specific risk tolerance and goals.
If you find yourself worrying about the markets or your financial situation, we at Stewardship Wealth Advisors are here to answer your questions and help you move forward. Please do not hesitate to reach out during this time – myself and my team are here for you. If you happen to be new to our firm, take a moment to reach out and schedule an introductory meeting at 623.251.7282 or email us at firstname.lastname@example.org.
About Stewardship Wealth Advisors
Stewardship Wealth Advisors is an independent, fee-based comprehensive financial planning firm dedicated to empowering clients to steward their wealth well and maximize their hard work and dedication. With decades of experience, our team of advisors builds a foundational relationship to create a personalized financial plan to help their clients reach their goals and achieve financial independence. To learn more about what we do and how we can help you, connect with us online.