Trump pulled it off. Unbelievable. I guess the media and pollsters completely underestimated just how pissed-off rural and rust-belt America is with the way the country is moving. Talk about flipping the script. Here’s to four years of uncertainty, not to mention unorthodox politics like we’ve never seen before.
It’s human nature to want to act on this information and make a move in your portfolio. Buy this, sell that, move into cash for a while and see what happens. But like we learned from Brexit earlier in the year, the market reacts in short term swings that are hard to predict. There will always be another crisis in some form or another. Markets might crash for a period of time. But the long term trend always ticks up and so that’s why it’s crucial to stick to your investment plan and not try and react to news or anticipate reactions to news.
This is where a financial advisor comes in handy. As Josh Brown says, a good advisor needs to wear three hats: Teacher, bouncer, and friend.
So now what? Goodbye calm? Rob Carrick offers five ways Trump will affect your personal finances.
This Week’s Recap:
Excited to meet up with my mom in Calgary this weekend as our family took part in Tourism Calgary’s Best Weekend of the Fall promotion. We’ll post a full recap of our trip later this month, but for now here’s a look from the glass floor atop the Calgary Tower:
On Monday I wrote about my top financial wins for credit education week.
On Wednesday Marie listed 10 tips for negotiating a raise.
And on Friday Marie explained the complexities of estate planning for blended families.
Over on Rewards Cards Canada I wrote about the new RBC Rewards mobile app – a great way to keep tabs on your rewards points.
Is it a good idea to buy life insurance for your children? Million Dollar Journey tackles this seemingly obvious question with a resounding no!
Peter Armstrong says the lack of transparency from financial institutions ought to worry individual investors.
Preet Banerjee and Mark Goodfield talk family dynamics and estate planning in this Mostly Money podcast.
How do robo-advisors benefit Millennials? The Globe and Mail staffers ask:
Turning down a million dollar blog deal? Read about why J$ declined a big offer for his Budgets are Sexy blog.
How exactly do you work toward crossing the finish line of financial freedom? Jon Chevreau explains the Victory Lap retirement.
Michael James on pandering to those with too much debt.
Weigh your age and interest rates. How to win using annuities in retirement.
How these two entrepreneurs plan to balance two babies – their fledgling business, and a newborn.
Finally, as we get ready to close out 2016 soon Tim Cestnick shares a year-end tax list for investors.
Have a great weekend, everyone!