Investment & Economic Strategy Update — November 6, 2020
Well, the election is finally here and no matter who wins, the growth of the US economy will continue. The republicans have maintained control of the Senate which means the US government is in a gridlocked state… This is ultimately GOOD for the economy. It also means that many of the policies that President Trump put into place like tax cuts will not be reversed, and there won’t be a Green New Deal.
As far as COVID-19 is concerned…. A vaccine could be approved within weeks so expect it to go away soon and things start to return to normal. As for the investment markets; Remember: volatility is normal, don’t be surprised by or make emotional investment decisions just because the market has a 10-15% correction… It happens! COVID-19 has also created a very high level of pent-up demand so, there could be a year-end rally as we move into 2021.
As always, don’t listen to the general media, do some research and find other reputable sources. The general media is garbage and is more concerned with selling hype and advertising space than actually reporting real news. Don’t let them scare you into emotional investment decisions… Fact-based is ALWAYS better than emotion-based investing.
Finally, Policies matter when it comes to the overall health and growth of the economy and while the US economy will have better growth potential with a second term from Donald Trump, generally speaking we will continue to do well no matter who wins.
If you have questions or concerns about your portfolio, give us a call at (800) 618-8577 or visit our website, www.ReznyWealth.com.