A Birmingham financial advisor says the new administration in the White House should not significantly impact financial investments.”I don’t know which way you voted, I don’t know if you’re excited or distraught, but pump the brakes,” says Scott Cole, a financial planner in the Birmingham area. “There’s zero evidence the market really cares about who is in office.”Cole said he tells that to clients after every election.”Whether you’re ecstatic or distraught about this new administration, nothing about your investments should change,” Cole advises.”What markets care about is making money. That’s all they care about. They don’t care about ideology, all they care about is how can they make money, how can the market make money?”Cole emphasizes that investors should only change their investment strategy if their goals or income have changed.>> UNDERSTANDING YOUR MONEY: Bitcoin reaches new highs, financial planner explains impactIf you’re wondering whether the market performs better under Republicans or Democrats, Cole offers a surprising insight.”Statistically, the markets like divided government,” he said. “They like it when there’s gridlock because then nothing gets done, and then the rules are settled for the next four to five years.”Cole warns that missing out on years of investing during any presidency could throw off financial goals.>> WVTM 13 ON-THE-GO: Download our app for free
A Birmingham financial advisor says the new administration in the White House should not significantly impact financial investments.
“I don’t know which way you voted, I don’t know if you’re excited or distraught, but pump the brakes,” says Scott Cole, a financial planner in the Birmingham area. “There’s zero evidence the market really cares about who is in office.”
Cole said he tells that to clients after every election.
“Whether you’re ecstatic or distraught about this new administration, nothing about your investments should change,” Cole advises.
“What markets care about is making money. That’s all they care about. They don’t care about ideology, all they care about is how can they make money, how can the market make money?”
Cole emphasizes that investors should only change their investment strategy if their goals or income have changed.
>> UNDERSTANDING YOUR MONEY: Bitcoin reaches new highs, financial planner explains impact
If you’re wondering whether the market performs better under Republicans or Democrats, Cole offers a surprising insight.
“Statistically, the markets like divided government,” he said. “They like it when there’s gridlock because then nothing gets done, and then the rules are settled for the next four to five years.”
Cole warns that missing out on years of investing during any presidency could throw off financial goals.
>> WVTM 13 ON-THE-GO: Download our app for free
