Many Americans are waking up this morning disappointed, surprised, elated and shocked. Pundits are prognosticating about what the next four years will bring and social media feeds are filled with election commentary and lamentations. The financial markets are also uneasy, just as they were when the Brexit vote occurred in May. What are we supposed to do?
Start by focusing on the things that you can control. You may feel downtrodden after the election result, but that doesn’t change your financial goals. In 48 months, we all will be older and hopefully nearer to achieving financial freedom. Your children or grandchildren will be that much closer to going to college. Developing a sound financial plan, reducing debt, living within an established budget and investing wisely are key components of financial independence. It’s imperative that you begin with the end in mind. If you haven’t thought about what to do, find an independent financial firm that can help you get organized and take the first steps.
Our republic has lasted for 240 years. We have elected both good leaders and poor executives. The country will live on today and hopefully for another 24 decades. As individuals, we aren’t that lucky. With limited time on the earth, it’s important to make sound choices on the things we can control. Rather than gloating or sulking about the election result, use this time to begin planning and dreaming for what your life will look like in 2020.