This November, you will be voting “red or blue” in the Presidential election. The most of important thing, of course, is that you vote. I don’t want to sound like a broken record and say that these are not normal times. But, what if they are for a while. Many years ago, I attended a conference where they spoke of the “circle of concern and the circle of influence.” The circle of concern is much larger. And, they are items that we usually don’t have any control or an ability to influence, these items. Sure, they keep us up at night but beyond our control. Examples could be a hurricane, tornado, COVID-19 etc. On the other hand, the “circle of influence” is comprised of items that we can influence and change... or, at least protect ourselves from. Let me explain.
My title of this article is “Red or Blue… but not Black AND blue.” Yes, you can affect change through your vote. But, how do you protect your nest eggs from getting “Black and Blue?” I am referring to some very volatile times in the equity markets. Please allow me to state that I am not giving investment advice. As you know from my previous writings, that I am and always have been a big fan of the equity markets. So, I am speaking to Baby Boomers and above. Do you have the appropriate amount of money at risk? Can you afford another potential downturn in the market? Do you have the “stomach” for a 10%, 15%, 20% or more drop in the market? Now, I can’t control the market… it is in my circle of concern. But, I can influence the outcome by making sure I have the proper amount of my nest egg in Safe Money Places.
So, in closing, make sure you vote… red or blue. But, don’t let your nest egg get “Black AND Blue.” You can influence that. If you would like to discuss options with a licensed agent in your state, give us a call and we will set up the appointment. Or, contact a member of the Safe Money Places Agent Network. Stay safe.
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