So, last week I was nervous and optimistic. And, many of you left comments on your reaction to my pre-election thoughts. Thank you for your continued engagement and thoughts. This week, I am still nervous and optimistic, just in a different way as I’ve now had several days to process and reflect. I’ve previously written about my choice in Hillary for President. But, I voted for a candidate who did not win the election. I’m going to take it as a given that you can surmise why I’m still nervous, but here's how I’ve summed up my optimism, though frankly somewhat tempered:
I’m pouring my emotion into the things I can control and that can have impact, including trying to equip you with wealth-building and investing strategies and tactics. I want to close the divide among those who have been utilizing wealth-building strategies and those who want to empower themselves to get some too!
Whomever you voted for (or if you chose not to vote at all – which is a topic that would take me a whole book to write about), we are all saddled with the question – how do we as individuals, which ultimately make up this country, move forward together under President-elect Trump? I had to deal with this personal reality this past weekend when I had to tackle this very question with my family members who voted for Trump. Yes, it has been up close and personal and time will ultimately judge us all!
Interestingly enough, the conversation circled back to how this Trump Presidency will affect our wallets and what we could do as individuals to create more opportunity in our lives across the board. So, here’s a few of my own takeaways on what we should be looking out for.
A Trump Presidency on Our Money:
Stick to Your Investing Philosophy. As we saw in the hours leading up to the stock market open on the day of the election, the market will show you how it feels about a particular event. The market’s rise over the week in the wake of a Trump win totally surprised many people, including some of the smartest economists around the globe. We are reminded that we cannot time the market. According to a really good NYT article, the market is surely telling us that companies should benefit from a Trump Presidency. Only time will tell. Amidst uncertainty, we need to stick to our guns with our investment philosophies. If you don’t have an investment philosophy yet, what’s holding you back? Send me your thoughts.
Companies Still Move On. Last week, one of my favorite companies, Shake Shack,reported very good earnings, which positively reflected that consumers value their product and their innovation on BURGERs and MILKSHAKES. Companies will keep moving - Oh My!
Entrepreneurial Wealth Matters. I am hopeful that this election will spur more entrepreneurship activity and innovation, which tends to drive wealth over time. If we really want to close the income equality gap, which was a major focus of the overall Presidential election, we need to begin to shift our thinking toward executing (and supporting) entrepreneurial endeavors. We all know that business formation typically requires money, and so we should be asking ourselves – can we allocate some of our funds to start businesses ourselves or invest in others? (As you might guess, this is a sneak peak to 2017…oh yeah!)
I know it’s been emotional whiplash for all of us over the last year, so I hope that you take time to enjoy the people in your life – albeit a Hillary or Donald supporter – because it’s these people that drive us to work hard, invest, and build wealth.