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Greetings, and welcome back to our video blog! As we head into this election season, I want to share some encouragement with you. It’s so important as Americans to do our duty and vote our conscience—it’s a core part of our country’s founding principles. But, as investors, we have to follow a different playbook.
With all the campaign messages flooding in the next month, it’s crucial to separate that from our investment decisions. There are so just many factors that influence the markets beyond elections. Historically, market reactions to elections have been hard to predict and often don’t align with our expectations or emotional biases. The reality is, businesses and markets adapt to the political landscape. The free market system thrives on innovation, and companies adjust to new conditions rather than waiting around for a new political cycle. [Companies] just don’t have that option. That’s been a constant throughout history.
For those who’ve followed my past updates, I previously encouraged patience during this year’s choppy market, and staying the course has been rewarding this year with a strong market rally in both stocks and bonds. Of course, past performance is not a guarantee of future results, and we all know, all investing involves risk. That said, we continue to have confidence in our long-term strategies based on each individual’s needs and objectives.
Recently, the Federal Reserve gave us the ½ percent interest rate cut we were expecting—which we view as a bit like a sugar rush for the economy. In the long run, what really sustains economic growth – the meat and potatoes -- is a strong labor market, and right now, job numbers remain historically solid. A key trend to keep an eye on is the wave of baby boomers retiring. Here’s a fun fact: more people are turning 65 this year than ever before in American history. That’s supporting those strong labor numbers, even as the workforce changes.
Lastly, October is Cybersecurity Month! It seems like there are more and more data breaches in the news every week. And I wanted to reassure you about your LPL accounts. LPL Financial is one of the only firms offering a Cyber Fraud Guarantee. You can read more about it in the link below. We also encourage credit monitoring services -- but even better, take the step of freezing your credit reports with all three bureaus. It’s a great way to aim to prevent identity theft. To learn how to freeze your credit, you can also follow the click provided in this blog.
Thank you so much for tuning in, and for the privilege of serving you, our valued clients. We hope you enjoy the beautiful fall weather, and as always, if you need anything, we’re just a phone call or email away.
Loran Graham, CFP®, CPA, CKA®
CEO/President
Additional Disclosures: The opinions voiced in this program are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.