The theme this week on the Retirement Quick Tips Podcast is: Are You Sabotaging Your Investments Because Of Your Political Views?
Happy Election Day! If you’re a Republican and the polls and predictions are correct, I think you’ll be a happy camper this evening. If you’re a democrat, well I guess it depends on where you live and at least you had your fun in 2020 with a full sweep.
I live in the suburbs of Portland, Oregon. I was born here and have lived here pretty much my whole life, and it’s quite possible that we could have a republican governor for the first time in like 40+ years in Oregon. Oregon is a very blue state, so the fact that republican Christine Drazen even has a chance is really interesting. As I record this podcast, she’s leading in the polls, and because of that, the governor race has even attracted national media attention. I was shocked the first time I read an article about Drazen in the Wall Street Journal. If California is Marcia Brady, then Oregon is kind of like Jan Brady. Nobody pays much attention to us up here on the northside of California, so that was the first time I realized that a republican vote in a governor's race might actually mean something in Oregon.
We have mail in voting here in Oregon, so I’ve long since voted and now I’ll just watch with bated breath to see what happens this evening.
One thing I don’t expect when I wake up the morning after election day is a strong stock market reaction. Markets tend not to care all that much about election outcomes, even in the short-term, and whether Congress and the White House are blue, red, or deadlocked with both, thankfully it doesn’t impact the big picture all that much.
I’ll talk more specifically later this week on the ways which elections can influence markets, but whether you’re elated or depressed after tonight’s election outcome, you can at least rest assured that whatever that outcome is, it’s unlikely to have much impact on your investment portfolio.
That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.
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