How to Election-Proof Your Finances (By Age)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 18 September 2020
⏱️ 48 minutes
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Summary
Transcript
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| 0:00.0 | Hot topic how to election prove your finances. |
| 0:05.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, investing, taxing. |
| 0:14.0 | You've got financial questions, he's got financial answers. |
| 0:17.0 | It's Brian Preston, the money guy. |
| 0:21.0 | Brian, I think it's no surprise that when people find out what we do for a living, specifically when it's in an election year, |
| 0:28.0 | and specifically when it's in like a highly contested election year, which is, I don't know, every single election year that we have these days, |
| 0:35.0 | they're also going to say, hey, if this person does what's going to happen, right? |
| 0:40.0 | What should I be doing to get ready? |
| 0:42.0 | Or I think this person's going to win, is it should I go to cash or should I double down? |
| 0:46.0 | I feel like I get those kind of questions all the time, especially when it's coming up to an election. |
| 0:53.0 | Well, election years are always unique. |
| 0:55.0 | And I think it goes even deeper, think about our clients. |
| 0:58.0 | We have clients in 42 states. |
| 1:00.0 | You can imagine we have great cross-section of all types, and we get a lot of calls on, and by the way, we've been doing this long enough. |
| 1:09.0 | This is not our first election cycle. |
| 1:12.0 | And I can tell you some of the biggest teachable moments I have experienced with clients is when they have called to make that emotional decision on doing something with their portfolio because of an election. |
| 1:25.0 | And then the educational opportunity that comes up later after they realize maybe they landed on the wrong side of thinking about how to handle your finances with elections. |
| 1:35.0 | So here's what we can't avoid. |
| 1:37.0 | We can't avoid living in a world where there are elections, and we can't avoid living in a world where there is uncertainty around those elections. |
| 1:46.0 | So what we want to talk about is as we go into this election, and every election in the future, how can you prepare? |
| 1:52.0 | What are the things you ought to be doing specifically to your portfolio to make sure that you are election proof? |
| 1:59.0 | So here's the first question that people ask us. |
... |
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