All 50 states and the District of Columbia have now certified their presidential election results, and President-Elect Joe Biden will drive our next four years. What does that mean for your investments as you move closer to retirement? Unfortunately, an election taking place at the height of an unprecedented global pandemic doesn’t exactly lend itself to historical comparisons, but we can make a few assumptions.
A political party doesn’t historically have a considerable impact on market performance. The truth is, presidents don’t operate in a vacuum, and a few major corporations have the most influence on the markets.
More impactful is that we’re headed into a Democratic-controlled government. As an investor, you’re most likely concerned with the impact this leadership will have on your taxes. While, a divided government would likely have resulted in more moderate tax law changes than a fully Democratic leadership, the Biden proposals still need the nod of a substantial number of Republicans in order to make any major changes.
One of the great lessons from a year that has been a whirlwind of historic hurdles and uncharted territory is that only time will tell. Time will tell us if this new administration will positively or negatively impact the markets; time will tell if we’re at the end or the height of the pandemic. But if time has told us one thing: your best bet is to stay true to your long-term strategy.
If you’re concerned about how any of these shifts may affect you, now is a great time to contact us at (540) 720-5656 and determine how you can prepare to face these changes with certain tax-advantaged vehicles.
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.