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Let’s say you’re preparing for a summer trip to the beach. What would you put in your suitcase? A swimsuit, probably. Sandals. Sunscreen. Plenty of shorts and t-shirts. Sunglasses and a hat. Then, when you take a step back, you realize you still have space for a few more items. What do you choose? More beach gear? Makes sense – after all, it’s the middle of summer, and your destination is famous for being the perfect place to work on a tan. When 2024 began, inflation was near its lowest point in two years. As a result, many investors figured prices would continue to drop, and the Federal Reserve would lower interest rates sooner rather than later. (And possibly even several times throughout the year.) In other words, they “banked” on warm weather and sunny skies, then packed their suitcase accordingly.

There are a lot of misconceptions that spring up every four years about what presidential contests might mean for your portfolio. Most of these cause investors to worry unnecessarily. As your financial advisor, it’s my job to help you feel confident in your financial future, not anxious. So, let’s do a brief dive into three misconceptions about election season and the markets.

Last year, the markets surprised many experts who had predicted a recession by having positive growth. That hot streak continued through the first quarter of 2024.

Headlines like these often bewilder new investors. But even experienced investors sometimes wonder: “What does it mean to invest in cash?” After all, we don’t usually think of the word “cash” in relation to investing. For most people, cash is the stuff you keep in your wallet. So, what gives?

Have you ever heard of the Magnificent 7? No, I’m not referring to the classic western film starring Yul Brynner and Steve McQueen. I’m referring to the seven companies most responsible for the stock market’s rise over the past year. In fact, they have played such an oversized role that it’s time to start thinking about what might happen if they were to…stop.

As this market bounces around, we must focus on “The Long View.” Countless studies have repeatedly shown, “It’s time in the market, not timing.”