How to Election-Proof your Finances
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.6 • 2.8K Ratings
🗓️ 5 July 2024
⏱️ 31 minutes
🧾️ Download transcript
Summary
Does the upcoming election have an impact on you financial life?
We'll walk you through that question and more in today's Q&A episode!
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Transcript
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| 0:00.0 | How to election proof your finances? |
| 0:07.0 | Brian, I am so excited about this because this is one of those unique years where we have a presidential election and we know that things can get a little squirrely a little interesting things can kind of be going one way and then they can immediately turn and start |
| 0:24.1 | going a different direction. So a lot of people ask us this question guys |
| 0:27.9 | going into this election year what do I need to know what do I need to think about before we get? How can I protect myself from a portfolio perspective? |
| 0:37.0 | Because then usually they follow it with, if X happens, then this is going to happen. |
| 0:42.0 | And then you talk to the next person, they say, well, if Y happens, then this is going to happen. And then you talk to the next person, |
| 0:43.4 | and say, well, if Y happens, then this is going to happen. |
| 0:46.6 | So how do you go about navigating this? |
| 0:48.6 | I don't have any data to support this, but I feel like this year is unique in the fact that here we |
| 0:56.4 | are about to be in July and I feel like the energy is maybe it's just me but I |
| 1:01.0 | felt like the energy is lower |
| 1:02.8 | this election cycle but it's it is one of those things where I'll always love to go back |
| 1:07.2 | and look at the historical context because without a doubt |
| 1:11.1 | the news media because this is they make hay I think you know there's a lot of |
| 1:16.0 | opportunity this is their super Bowl when you have election years presidential election |
| 1:20.7 | years you know there's gonna be tons of money dumped into the campaigns |
| 1:23.6 | that's going to go through news outlets it's going to go through social media and so |
| 1:27.7 | they live for this stuff so they try to get you all excited in a frenzy, whether you're a Democrat, whether you're a Republican. |
| 1:37.0 | And I just want to remind everybody, this is why I think that we are your respite in the chaos that we're probably all about to experience is that |
| 1:46.8 | we're going to make it through this and one of the things we focus on on our |
| 1:50.9 | show is that we don't get into politics we don't get into religion |
| 1:54.6 | we try to focus on things you can control so I think the first thing we ought to do |
... |
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