How to Stay Calm During Election Season

Election season can stir up emotions and cause uncertainty, but it’s essential to stay focused on your long-term financial goals.

Here are 4 things you can do to prepare:

1. Avoid Forced Sales
During periods of market volatility, it’s crucial to avoid selling growth assets in a downturn. Consult with your financial advisor to plan ahead and raise necessary funds before the election to prevent forced sales.

2. Prepare for Unexpected Expenses
Evaluate your life circumstances and anticipate any upcoming expenses. Ensure you have an emergency fund or a home equity line of credit to handle unforeseen events, like urgent home repairs. If necessary, talk with your advisor about moving some money into less volatile assets temporarily.

3. Stick to Your Long-Term Plan
Emotions can cloud judgment, leading to knee-jerk reactions. Remember, panic is not a strategy. Turn off the news if it makes you anxious and avoid taking investment advice from unqualified sources. Rely on the guidance of trusted professionals who understand your specific situation.

4. Communicate Regularly
Consistent communication with your financial advisor is key. We encourage you to reach out if you have planned expenses or potential needs that could impact your financial strategy. Don’t wait until the last minute—discuss your options early to make informed, logical decisions.