Throughout the past 30 years, we have determined that two human emotions are typically the main culprits behind significant financial mistakes: Fear and Greed.
Today’s blog post will focus on the potentially negative impact of “listening to the voice” of fear.
On November 5th, we will mark the 2024 Presidential Election Day. If the polls are accurate, this race is extremely close—a toss-up! Hopefully, the election results will be finalized in a fair, orderly, and timely manner.
Fear of the Unknown
Presidential elections create many unknowns that, if left unchecked, can trigger fear.
- What will the new administration do to improve or worsen the economy?
- What tax law changes are coming?
- Where will the new president and political leaders guide the country on moral and faith issues?
Unfortunately, these unknowns, combined with strong political opinions and personal biases, can cause individuals to make erratic shifts in their investment portfolios or, in some cases, their life choices. Some of the largest investment blunders we’ve witnessed over the past few decades were the result of such political opinions and biases.
The Impact of Negative Ads and Marketing on Investing
Have you also noticed the surge in marketing that preys on these fears of the unknown?
Gold companies claim they have the only sure-fire solution to what’s coming. There has been a significant increase in ads promoting personal solar-powered generators, packaged food supplies that last 25 years (Yum?). Other businesses share items promising to “prepare you for the unknown.”
Friends…fear sells! Be careful not to let these fear-based sales tactics compromise sound logic and common-sense thinking.
Recommendations for Facing the Fear to Invest Wisely
As you find yourself wrestling with uncertainty and fear, what we do recommend is this:
- Exercise common sense and rational decision-making
- Stick to your financial and investment plan
- Pray often, and vote!
Voting is a privilege that gives us a voice in our nation’s future.
Faith During Uncertain Times
For me personally, my biblical worldview assures me that God is the only one in ultimate control. None of these unknowns will ever surprise Him or catch Him off guard.
He is above all Presidents, Leaders, and Rulers of all nations. Because there are no unknowns for Him, I can rest in His sovereignty and perfect plan. I hope you can experience the same.
If fear of the unknown is tempting you to make drastic changes or unusual decisions, contact us!
We would love to have a meaningful conversation and share our perspectives with you. Thank you for the privilege of “doing life with you.” As always, it is an honor to serve you.
