CFO of Mountain America Credit Union provides financial advice ahead of the general election
IDAHO FALLS, Idaho (KIFI) — The Presidential Election is approaching quickly, and election stress is often on people’s list of worries, including how the outcome will affect the economy.
"Not to worry," says Jeremy Blair, the Chief Investment Officer for Mountain America Credit Union.
He says elections can cause short-term volatility in financial markets, but the long-term impact is typically minimal.
"Look at your long-term portfolio," Blaire said. "Look back at what's happened in past elections. Look at ones where the outcome was exactly what you'd hoped for. Look at those where the outcome was not what you'd hoped for, and then look and see what happened to your investments over the next few years. That should give you some comfort because you're going to see that things perform really well for you if you'd stayed in place."
Blair said there are factors that affect markets in the long term that investors should look out for.
"Definitely watch consumer sentiment because that's going to get things moving and the economy right. Usually when consumer sentiment turns and sours, that's when we'll start to see people start talking about things like a slowdown or even a recession in some cases."
Blair also said if you're still nervous about the economy and the election, you can move a small percentage of your portfolio if that helps ease your fears, but you'll be better served if you leave the majority of funds in a long-term plan that really isn't influenced by politics.
