As I write this blog post, we are a week from the Presidential Election. There is tension in the air. There is also a rise in the cases of Covid-19 worldwide, which of course brings the accompanying economic uncertainties along with it. It is believed that on election night the next President of the United States will not be determined and could drag into the following weeks. Obviously, this creates additional uncertainties, as well as possible unrest, regardless of who wins.
What should we do?
I think Lee Iaccoca has the best advice:
“So, what do we do? Anything, Something. So long as we just don’t sit there. If we screw up, start over. Try something else. If we wait until we’ve satisfied all the uncertainties, it may be too late.”
Bottom line, we do the best with what we have. We continue to press forward and live life. We will always have uncertainties in life. Doing something, anything, will get us closer to resolving them, or at least learning from them and having gained wisdom from it to use in dealing with future uncertainties.
Use this “challenging time” to reconnect with others, family, friends. Help the less fortunate and give people the benefit of the doubt. So much division exists today amongst our nation. Frankly, I can’t wait until the election is over, and I sure cannot wait until Covid-19 ends! My sincere hope and prayer is that once it is, that a true healing takes place. That we can once again become the United States of America. One nation, under God, indivisible, with liberty and justice for all.
What about investments?
One word…. Opportunity! I sincerely believe that once the uncertainty starts to abate, the massive amount of capital sitting on the sidelines will be invested. The aha moment will be, when a stimulus package is passed, the election is resolved, and Covid-19 slowly declines in cases, that “dry powder” (a.k.a. capital), will be lit, and an aggressive expansion of spending and investments will result. When the influx of capital hits, it could create a significant economic boost.
The other option is to wait until all uncertainty has completely ceased. The clouds have dissipated, the sun begins to shine, and all is right with the world. Yet, by then, like Lee mentioned in his quote, “it may be too late.” Too late, as the market will have reacted before then and you will have missed out on another opportunity that presented itself.
Rothschild & Co. Announcement
Due to some of the growth that we have experienced at Avantax, we are now able to offer to our clients the services of Rothschild & Co. money management services. There is a minimum investment of $250,000, yet their expertise, experience, and knowledge base is second to none. I am truly excited about this new relationship with Rothschild & Co. If you have an interest in discussing further, click this link and leave me a note.
Here is Rothschild & Co., most recent economic review which I believe you will find insightful:
I want to encourage all the readers, to stand strong. As Americans, we have gone through many challenging times, and each time we have come out all the better. I think it is due to our unique mindset. A resiliency that knows no bounds. Perhaps some of us have became a bit soft, but now, with all that we have and are going through, I think we have “toughened” up. We are determined to not let this get the best of us, to be defeated, and those who are not determined, those who feel like giving up, let those of us who can, help encourage and support them. We are in this thing together!
Warmest Heartfelt Regards,