Election Consequences For Our Retirement Savings Show 21
David Treece shares some potential consequences to this year’s presidential election. And he shares with you a new investment idea that our clients have been enjoying!
“You know, I believe the economy is better off with competition. We don’t have to look hard to see enterprises, companies or government entities that have a monopoly. In fact, sometimes the government will intervene and break companies up when they become too big. But what tends to happen when one organization has the corner on the market? Customer services becomes secondary, the company isn’t as competitive as it used to be, and maybe there are less options… Why do you need options for what you can buy? If that company is the only choice, they can dictate what products come to market. It would be like if one farmer grew all the vegetables. If he didn’t want to grow corn that year, oh well… We don’t get corn. But if there are multiple farmers if one farmer chooses to not grow corn no problem the consumer can buy corn from the other farmers who did grow it.
I put a lot of thought into voting. I always have. I’m 36 and the first election I followed closely was in 1996. Senator Bob Dole was running against Bill Clinton. I actually have a Bob / Jack Kemp sign in my garage now. I was 12 years old then. I quickly registered to vote when I turned 18 and if I’ve missed an opportunity to vote since turning 18, I am not aware of it. I’ve always felt that elections were really important and people sacrificed for our ability to vote. It should be taken seriously.
So, I’ve been thinking a lot about this year’s presidential election. I think one of the best things President Trump has done for America is cut regulations. As a business owner, I live by the Golden Rule. “Do unto others what I would want done to me.” And all of our clients are over 60 years old. And one common phrase I tell most everybody that meets with me is there isn’t one thing I’m recommending for you that I would not recommend that my 65-year old mother do with her finances. The point is we need laws.
David continues on this topic on this podcast and ties into the possible outcomes of the election.
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