45% of consumers with $100,000 or more investable assets expect to make changes to their investments due to the upcoming 2020 presidential election. 1
No matter how you look at it, that’s a startling statistic.
Second-guessing your investment strategy is natural, especially with an election on the horizon. Emotions are running high as many are divided about what may happen to the financial markets with the election just weeks away.
That makes this a great time to remember that investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. If you’re concerned that the upcoming election may change one of these key factors, perhaps it’s time to review your portfolio.
Or, if you are concerned about one or more of the policies being discussed by the presidential candidates, speaking with your financial professional is never a bad idea. More often than not, they will welcome the chance to hear your perspective and can provide some guidance.
It can be difficult to mind one’s emotions when it comes to investing, and if the election introduces new economic factors, this may be more challenging than ever. If you decide to change your portfolio, make sure you’re speaking with your financial professional first and avoiding decisions based on an emotional response to a current event.
Citations
1. HartfordFunds, 2020