Should You Change Your Investing Habits During Election Seasons?
The Ramsey Show Highlights
Ramsey Network
4.5 • 840 Ratings
🗓️ 4 September 2024
⏱️ 4 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
| 0:06.4 | All right, can we get some questions from our YouTube audience? And here's a few that kind of |
| 0:11.0 | are in the same bucket. And they are all around this sort of election season, politics, |
| 0:15.3 | the economy, investing. What do I do with my money? So here's a few. And we'll kind of pull back |
| 0:20.3 | the curtain on these. Should we |
| 0:21.3 | dial back on investing during a weak economy to have more cash on hand? Speaking from a lower |
| 0:25.9 | middle class perspective that does own a home and currently no debt except a car payment. Should we |
| 0:32.0 | dial back investing? Yes, I would dial back investing, but not because of economic reasons. |
| 0:36.3 | It's because you have a car payment that's holding you back and you need to pay that off in case there's a weak economy. I want you to owe nobody anything. So that's part of it. But would I change my investing habits because of any economic factors? Absolutely not. I invest the same when the market is doing great, when the |
| 0:54.8 | market's doing poorly, and you can call it dollar cost averaging, which is a simple way to say, |
| 0:59.8 | you invest the same amount every month no matter what's happening. Those are the people that win can, |
| 1:04.8 | not the people who jump in and out as they feel the market's going to do or it just did and I'm |
| 1:09.7 | going to pull the money, I'll put it back in. |
| 1:11.5 | Those people always lose in the end. |
| 1:13.1 | Well, I want to call out what happened this week. |
| 1:15.2 | So we had a massive, massive shakeup in the stock market on Monday of this week. |
| 1:22.0 | And then here we are. |
| 1:23.5 | We're crawling back. |
| 1:24.3 | In fact, I'll pull it up while we're talking. But had you got out after the thousand point loss, it was over a trillion dollars lost in one day. Had you gotten out, you wouldn't |
| 1:33.7 | be benefiting from the rebate. You wouldn't have the recovery. That's right. And you would have got |
| 1:37.0 | in too late. So that's part of it. You can pull up the numbers. I'm going to move on to this next question, which is related. Should I wait to invest more until after the election? |
| 1:46.5 | Again, what we've seen, there's no history that shows us that if you invest the day after |
... |
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