Ep. 113: The Election’s Impact on Your Portfolio: Tax, Market, and Strategy Adjustments for Investors
The X's and O's
In this episode, Brent, Matthew, and Joshua dive into the 2024 election results and discuss how the political changes may impact financial markets, investment strategies, and retirement planning. From analyzing tax implications to exploring market shifts, they offer insights to help listeners make sense of the evolving financial landscape.
Key Topics Covered:
[00:01:00] Introduction to the Election and Market Sentiment
The team discusses initial reactions to the election results.
Observations on the impact of leadership changes on investor confidence.
[00:04:30] Polling Surprises and Election Trends
A look at surprising poll results and prediction markets.
Analysis of how the election outcomes differ from expectations.
[00:08:00] Financial Market Response: Stocks, Banks, and More
Insight into why bank stocks surged post-election.
Sectors that may benefit from policy shifts, including banking, value stocks, and technology.
[00:15:00] Potential Tax Changes and Policy Shifts
How anticipated changes in tax policies could impact portfolios.
Estate tax discussions and the broader implications for high-net-worth individuals.
[00:20:00] Key Concerns: Inflation, Tariffs, and Economic Growth
Discussion on possible inflation trends and tariff impacts.
Exploring potential inflation control strategies and how they could affect future markets.
[00:28:00] Closing Thoughts and Market Outlook
Brent, Matthew, and Joshua provide their final takes on the election’s long-term implications.
What investors should consider in their financial plans amid these political changes.
Connect With Evermont Wealth:
(909) 296-7977
Transcript
Welcome to the Retirement Plan Playbook hosted by Brent Pasqua, Matthew Theal, and Joshua Winterswyk of Evermont Wealth. This podcast dives deep into investment strategies, retirement planning, and current events, equipping you with the insights needed to craft a robust retirement playbook adaptable to any political or economic climate.
Join Brent, Matthew, and Joshua as they guide you through the complexities of retirement planning. Offering expert advice. to tackle challenges and the later stages of your journey. It's time to build your optimal retirement playbook. Now let's dive into today's episode.
Matthew: All right guys got the mics turned on here.
Joshua: Thank you. Matt. You did a great job turning on the mics You hit that button. Oh, yeah, did I press the button record? It's those weights Yeah
Matthew: red
Joshua: meat and weights You could tell Pump it up there. Popeye
Matthew: Election special election special. Did you guys survive? We
Brent: did i'm here Brent.
Brent: You here? Oh, i'm here Are you surprised at what happened? a
Matthew: little bit but not fully. I had a pretty good feeling Trump was going to win. But I'm a little bit shocked. It was such, actually I am shocked by the magnitude of which he won.
Brent: When did the polls start to change? Was it after the vice president debate?
Brent: Cause I think that's when we really started to get word that like, it was kind of leaning towards Trump or at least the betting market started going that direction. Pull like the polls or the
Matthew: prediction market,
Brent: the prediction market.
Matthew: I, I think the first big change was on during one of the assassination attempts,
Joshua: that was the first big change.
Joshua: But then when they transitioned or Biden out, that was another big change. And I feel like there was another big change in the betting markets once. Harris got a lot of those donors to back her it came back From it not being so favored to Trump in the betting markets And then it kept inching closer to being even the closer we got to the election
Brent: Do you think she was at the lowest point?
Brent: That she was gonna get out or was it just going to keep snowballing. What do you mean lowest point? Like we did was the election kind of at her lowest point of popularity.
Matthew: Oh Yeah, she was getting Her election odds were decreasing the closer she got to the election. So Trump's chances of winning were increasing
Joshua: But in the betting markets, it didn't really happen that way
Matthew: Didn't
Joshua: show that way.
Joshua: Well, no, it was wasn't 6040 most of the time. I mean it was down to you know 56 percent to Trump like pre election, but those numbers were greater Earlier in the year Trump had a hot better Yeah If you watch it just visually you saw them get closer and closer together as the election started to get closer
Brent: the rhetoric on X Really started to change over like I think At least in my opinion, since the vice president debate that it, it, you could see the sediment change, like Waltz.
Brent: It didn't seem like did what he needed to do to secure their party.
Joshua: No, it kind of seemed like it was negative to their campaign.
Matthew: That guy was a bad pick.
Brent: Yeah. How did, how did that happen?
Matthew: Oh, they probably would have won the election if they picked Shapiro because he could have delivered Pennsylvania or he should have.
Matthew: Yeah,
Joshua: but I mean, still, even if they deliver Pennsylvania, I mean, he swept those swing states.
Matthew: Did you know that waltz guy lost his own county? Oh, did he?
Joshua: I did it. He lost his own county in his state. Well, I'm shocked at is like, we can now throw out the polls.
Matthew: Yeah. The poll, like pollsters, you mean? Yeah.
Matthew: Like, okay.
Joshua: So like throw them out because they were so
Brent: wrong. The poll said they were neck and neck, right? Yes. Neck
Joshua: and neck. 50, 50. Betty markets were a little bit more towards Trump, but the polls said 50 50, and it was a landslide victory. How could they be so wrong? But I feel like they're always wrong.
Joshua: But that bad?
Matthew: They were bad. It was bad. So what they were saying is a lot of them are paid to lean Democrat. The pollsters, which I thought was kind of interesting. But did you guys see that only two states didn't shift more towards Trump from 2020 to 2024 every state. So 48 states moved more, right?
Matthew: The only two that didn't were Utah and Washington. Isn't that wild? Even California moved more, right?
Brent: You could see it in some of the props that were voted on that the way that the numbers changed, it leaned more towards the right than the left. So there's obviously a shift going on right now.
Matthew: Yeah. I think people have woken up and they've kind of seen what's been going on.
Joshua: I'm just unhappy with the last four years. Yeah.
Matthew: Economically, probably socially. Yeah.
Brent: The the problem I think that happened to is that inflation was impacting a lot of people Young people are not able to buy a house Loans are extremely expensive right now Foods gonna prices have gone up and it seems like a lot of people that was like the message that I kept hearing is We want change to inflation.
Brent: And I think when Kamala was asked, you know, what she would do different than the Biden administration, and she said, nothing, we're going to continue on this path. It
Joshua: wasn't clear.
Brent: That wasn't clear. That wasn't the message that people needed to hear in order to reverse sort of what's happening financially for a lot of people.
Brent: And I think that's probably, you know, you could probably go back and do quarterback Monday on a lot of like pivotal points, but that's probably one of them.
Joshua: It's a big one. Cause we hear it, right? You see clients or even prospects come in and they're making over 200, 000 of household income a year. And they're like, we're living paycheck to paycheck struggling now, given it's probably after some 401k contributions and still being able to go out to eat and entertainment.
Joshua: So it's not completely like these people are broke, but you would think, okay, with that income, you're. You're really getting ahead and people were not feeling that way.
Brent: I mean, interest rates right now, you know, for a 30 year mortgage is over seven, still seven and a half. Like who can afford a mortgage at a seven and a half percent interest rate right now at the prices they're at as well.
Brent: Yes. At least in California. I mean, that's, and if you're out there trying to buy a home or even sell a home, like the market's not in a good place for you to make those types of moves.
Joshua: Yeah.
Matthew: Well, hopefully now getting clarity on the election, it's the housing market moving, you know, for the people who are in that industry, but also the people who want to move or the people who are looking to, to buy a property.
Joshua: Yeah. Hopefully it helps.
Matthew: You guys want to talk about the market angle here?
Brent: Yeah, I think that's probably what's most important.
Matthew: Yeah. For our clients. So the stock market rallied big. I don't really ever remember seeing days like we saw yesterday, the day after the election. So small caps were up 6%.
Matthew: So those are small, smaller companies. There's
Brent: movement to value, right?
Matthew: Yep. Movement to value stocks. A lot of that's bank driven. So like the banks like Wells Fargo, JP Morgan golden sacks, they're up like 10 to 15 percent in all the regional banks. Yeah. The regional banks like, man, it was a big rally.
Brent: What is the reason for the banks rallying so much under Trump winning? Less
Matthew: regulation. And then I think improved prospects for M and a, so the, the Biden administration was very negative for, for business and you know, we haven't really had any deals get done. You know, can you explain
Brent: what that means?
Brent: So
Matthew: large, like mergers and acquisitions get done and a lot and companies going public and put companies going public. Yeah. So they were very, I don't want to say they were anti business, but they weren't really helping anything. They weren't pushing the economy forward. And the belief is that you know, we've already seen what Trump did.
Matthew: He, and he did a pretty good job with the economy from 16 to 2020. Like those were some really good years, and the belief is that'll continue, you know, well, you think about
Joshua: it just generally, you know, under the democrats it more regulation, which makes it harder for those deals, harder for, for everything from the business standpoint, less regulation, easier to get what you just discussed.
Joshua: Done. Easier to generate profit is the assumption, right? So
Brent: it was anticipated that if Trump did win the election, that the market would respond in this way. And it has met all those expectations.
Matthew: Yeah. And some, I mean, it's been rallying today. We got a rate cut today. Federal reserve cut rates again, 25 basis points.
Matthew: I, I would see this continuing the rest of the year. I think we're going to be in that Santa Claus rally. Now from here on to the rest of the year, I think stocks are in a pretty good position. You know, things should be pretty quiet.
Brent: If Kamala had won, the sediment was that the market was most likely going to decline at least in the next few weeks or over the next few weeks.
Brent: Do you believe that that would have been true?
Matthew: No, I think it would have went up still.
Joshua: Yeah.
Matthew: I think that the econ there's so the economy is so strong. The market's in a very favorable position right here. Like we've seen all the statistics we've been showing our clients, all the statistics all year that the market was going to go higher and very favorable right now that we just needed to get the presidential winner out of the way.
Matthew: We just need somebody to win. And thankfully Trump wanted a landslide. Because there's no doubt about who the next president is. There's no recount. There's no lawsuits. It's Trump. He's gone Yeah, he won the popular vote
Brent: But there was also a lot of people saying that it was gonna take weeks before we got the election results
Matthew: I I mean it still has I was looking today because I finally got alerted that California counted my ballot and I was like Well, that's interesting.
Matthew: Let me see how many ballots they've actually counted in like, California They've only counted 50 percent of the ballots as of today. The election ended almost 48 hours ago, right? It's like some states haven't, but a lot of those swing states got in, but that just shows you how much Trump won by.
Joshua: To play the other side of this, though, the market's just been good this year.
Joshua: I mean, the election happened, but what changed, right? Nothing. It's been good all year. We had to get the overhang of
Matthew: who the president was going to
Joshua: be out of the way. And is this, is this growth just strictly from, I mean, Trump hasn't done anything, right? He can't do anything yet. So is the growth just from that uncertainty being gone?
Matthew: I think so.
Brent: Well, the Bitcoin isn't. Well, no, that's true. And the banks aren't. That's true. And Tesla isn't. So there are stocks that are moving in a positive direction because of the outcome.
Matthew: Yeah. So let's talk about those. So I think Tesla has been a big winner. And you know, it's basically Elon Musk really helped Donald Trump get elected.
Matthew: He the, the Democrats would you guys say were pretty harsh on Elon? For a number of years.
Brent: Well, Biden made a critical mistake very early on in his presidency for not inviting him to the white house with the other EV car makers and car makers, and basically turned a blind eye to Elon and excluded him from that conversation.
Brent: And ever since that day, Elon Musk has been out on Joe Biden and on the administration.
Matthew: Right. And well, they also came after him when I think what Joe Biden said during a press conference is we need to look into this guy and a lot of government agencies started investigating Elon and
Joshua: he was on their team.
Joshua: That moment. Yeah.
Matthew: He was a Democrat actually. Most people don't know that. Yeah. And funny thing too, cause I think a lot of people think or are saying now that Joe Rogan, the podcaster helped Donald Trump get elected with the, with the show he did with Donald Trump. Yeah. But that was kind of
Brent: last minute.
Matthew: It's saying it brought in the so called bro vote. Joe Rogan is also a Democrat. It was. They, yes, they were so harsh to him that he switched sides. Correct. So this is kind of like their M. O.
Brent: Yeah, because Tesla was in California.
Matthew: Yes.
Brent: And Gavin Newsom ticked off Elon to the level where he left and he went to Texas.
Brent: And then Joe Biden turned the eye to, to Elon. He has every right to switch his affiliation. If the affiliation that he was with before did him wrong.
Joshua: Right. So kind of the theme for the country, right? Kind of being disappointed. And you saw it in the results, not switching sides, maybe completely, but got you out to vote, right?
Joshua: Cause you were kind of felt like you were let down maybe by the previous party.
Matthew: So back to the Tesla stock though. Since essentially Elon and Trump are now, you know, tied at the hip together, Tesla stock is going up because it's expected that. They're going to get a lot of approvals done for their AI and autonomous driving.
Matthew: And even the robots that we talked about a few shows back that, you know, those are going to get fast tracked and we're going to get this age of innovation led by Tesla. What about
Joshua: a tax
Matthew: credit? Tax credits too. Yeah, absolutely. And I would imagine pretty fast next year we see his, his bigger, his next potential big company come public.
Matthew: And I think it has a potential to be bigger than Tesla, which is SpaceX. I would imagine SpaceX comes public next year.
Matthew: They haven't, but I think it's getting to a size where it needs to is what people I read have been saying. So I think that'll be an interesting stock and, you know, a new way for people to invest in the, the, you know, race to space, essentially the race to Mars.
Joshua: It's probably also good for the market. I mean, we haven't had that many big IPOs.
Joshua: It's going to be very interesting and kind of fun for us to, to see that wave of new IPOs hit the market, especially with all of the AI innovation.
Matthew: Yeah. And I think that's another reason all those bank stocks are up. Yeah. On the prospects of in the next year and a half, year to year and a half.
Brent: How does this election results kind of forecast or change what to anticipate in the market for the next four years?
Matthew: So like, I think we're going to get this Santa Claus rally right now. And then actually, as we get into early next year, 2025, I actually think the market's going to start to go down.
Brent: Yeah, I would think that as well.
Matthew: I think we've had, we've basically had two and a half really good years. If you go back to 2022 when the market started to go up again.
Matthew: 2023 was good. 2024 has been really good. Both really huge years.
Brent: Well, 2023 was only good from October to the end of the year.
Matthew: Yeah, it was, it was good though. It was big, right? It was a big year. It was a 20 percent year. And I think just, we're going to get some selling pressure. Early next year, people maybe sell some, sell some winners, right?
Matthew: New tax season.
Brent: We saw that in 2022 as well.
Matthew: Right. That's healthy. It is healthy. And then with just, with the presidential transition of power, I think that's just going to cause enough uncertainty where maybe people de risk a little bit from stocks and the market goes down for a few months.
Joshua: And there's always speed bumps.
Joshua: Yep. Always. And, you know, the other side of this, if we're playing the other side, I think, you know, what one big concern is, is what these tariffs are going to do to the market. That's what everybody keeps talking about too.
Matthew: Yeah. I don't see that as being an issue. We, we dealt with that in 2016. I would agree.
Matthew: I, what I see those tariffs being used by people are people who are upset that their person didn't get elected. I see that as being like, we're going to pick the one thing that Trump says that we don't like. That could be negative for the economy and we're gonna go on CNBC and talk about it because we're unhappy because our team lost
Brent: tariffs He is he trying to change the amount of tariffs that he did last time or where it where is his position on it?
Brent: Any different than before? So what
Matthew: he said is that Previously the American economy Operated on a tariff economy Back in like I think this was the 1800s and 1900s when the country's gonna start and actually at that time we had no income tax the government's revenue was was through tariffs and So he's mentioned that a few times.
Matthew: So now people are expecting him to put massive tariffs on I Personally don't think it's gonna happen The
Joshua: other threats inflation though
Matthew: Right. Cause they're saying inflation, not only
Joshua: from the tariffs, but inflation just due to kind of easier money. Right. Right. You're talking about potentially, and I know we wanted to talk about taxes, right?
Joshua: Tax rates being the same or potentially even lower. And some of these other topics that could potentially lead to either keeping inflation the same or even an increase in of an inflation, which also means then our rates really going to come down as much as people expected.
Matthew: So I've been hearing that a lot too.
Matthew: And yes, you could make that argument, but what if we go with 3 to 4 percent inflation? We say, Hey, that's acceptable. And they keep lowering rates to get the housing market going, which the housing market's frozen. It's not good. People aren't, people can't have a recession, right? Like we get that part of the economy actually going and people start selling and buying homes again.
Matthew: And the stock market does 12 percent a year. Sure. You got a little bit of inflation, but if economic growth is good. What do we care?
Joshua: Yeah, it just seems too perfect. It's like the perfect landing. Yeah, it's Goldilocks. But you're like, if inflation is three or four percent, but what if it is back up to six?
Joshua: I don't think it's going to go back up to six.
Matthew: And that, because they're not going to be pumping money. And in that, one of the things too they're saying with like Elon and Robert Kennedy Jr. is they want to cut out large chunks of the government.
Joshua: Yeah. We saw that kind of work in Argentina.
Matthew: Yeah. And like, you know, really reduce government spending.
Matthew: Yeah.
Joshua: Yeah. Which would help the deficit as
Matthew: well. Exactly.
Joshua: One
Brent: of the things that we've been anticipating is the, the change in the tax code that would be changing at the end of 2025. So we're now, you know, 13 or so, 14 months away from that taking place. I'm sure that's going to be a priority of the administration that impacts a lot of people.
Brent: Do you think he extends the current tax code, which affects the state tax, income tax, federal tax rates, or do you think he's going to adjust it or change it?
Matthew: Yeah. So this is the big, this is the big topic, right? Taxes. So the Republicans have the Senate, they have the white house. Have they won the house yet?
Matthew: Josh, or is it looks like they projected to
Joshua: projected.
Matthew: So they're projected to win the house. So they're going to have a, is it called a sweep, a trifecta, whatever you call it. I think taxes are going lower. I think they'll extend the trust tap Trump tax cuts permanently and most likely lower taxes on middle class.
Matthew: What's that mean? Everybody earning under 200, 000, most likely. So if you're earning under 2000, I would expect a tax cut. And then also corporations, I think they're going to cut corporate taxes, which is probably another reason why the stock market's rallying. Anticipation of that corporate tax cut
Joshua: just the excitement of not, you know, everyone was very nervous around cap taxing unrealized capital gains Oh, yeah, and for that not to happen or not not to be an idea anymore I would imagine gets investors very excited.
Joshua: That was such a bad
Matthew: policy I was like that was another just big strategic error on her end and and whoever ran her Her campaign was just you know, not coming out right away and saying like we have nothing to do with that,
Joshua: right? You
Brent: So what other so what about estate taxes? I mean, the estate tax threshold is very high for a husband and wife.
Brent: It's over. 25 million. Does that get reduced under the administration or do you think they, you know, factor inflation and gets higher?
Matthew: So if you were to pick a scenario where he could set the Republican up party up for success in the long run, it could actually be reducing that a little bit if you really think that because the majority of people, the people who are voting for Trump.
Matthew: They're not really impacted by that that much, right? That's a multi millionaire.
Joshua: I think what I hear you, what I hear you say is that's like a, if it's one good area for like bipartisan change, it would be there, right? Estate tax threshold down,
Matthew: but I do not think he would lower it as much as the Democrats.
Matthew: So I'd say maybe it stays the same. Or it goes down slightly. So right now it's 24 combined, right? It's 20. I think inflation is 25. Okay. So say it goes back down to 20 or to 18
Brent: or who knows, maybe they don't even touch it. Cause they were projecting it going down to five per person. So 10 or four, somewhere between 10 and 14.
Brent: Which is a much different number than staying at 26 or 20 or whatever.
Matthew: Cause I would imagine he wins over the most amount of people with middle class tax cuts again and corporate tax cuts that keeps everybody happy. And then the one other area they could touch is the estate.
Brent: And when do we start hearing about those tax changes?
Brent: Cause I mean, the end of 2025 is going to come quick. I'm sure they're going to start working on it.
Joshua: I hope it's sooner than later, just from a planning perspective.
Matthew: I hope once they get in office but I mean, he has a lot to clean up. It's, it sounds like they're already working on getting a peace deal done with Ukraine behind the scenes.
Matthew: If you believe what you read on X from like reporters and stuff. So, I mean, there's a lot of messes to fix geopolitically
Brent: right now. Yeah. I know for tax planning purposes, we'd all like to have this, What I will say though,
Joshua: is like, it was very entertaining over the last like week, just keeping up with the betting markets and the election.
Joshua: And did you guys, were you guys glued to the TV on election day?
Brent: On election day, I was, but I wasn't glued to it any other day, not the next day, not the day before I had no real interest leading up to it of what was going to happen. I was glued to my ex.
Joshua: Twitter.
Matthew: Yeah, my ex. Just for all of the listeners that are familiar with Twitter.
Matthew: That's where the, that's where the news was happening. Oh, for sure. But the mainstream media, MSNBC, Fox, CNN, CNBC, AB7, all those channels that people watch during election night, they were two to three hours behind what was happening in real time.
Brent: Yeah, I saw that. I mean, I would see a state get called on X and then it would be 40 minutes later, they'd call it on media.
Brent: I'm like, They called Donald Trump on X the winner at nine 30, 10 o'clock. It was done at eight o'clock. Yeah. I told my
Joshua: wife eight o'clock it was done. Correct. In
Brent: our minds, because we could see the numbers, you could see what was happening. Like you could see the loss of votes when they were comparing 2020 to 2024 or 2020.
Brent: Around eight o'clock
Matthew: Elon Musk tweeted game set match. Yeah, I saw that. And then it wasn't really Pennsylvania and all those other states weren't called till what? 10 45, 11 o'clock Pacific time. Yep. So that was almost a good three hours living. So essentially the Trump camp knew they had won the election at 8 PM Pacific time or 11 Eastern.
Brent: That's pretty interesting. But, you know, the data is what it is, you know? Like they're, they're filtering results.
Joshua: Now. I know too. Don't follow the polls, follow those Betty markets. Cause they were pretty good. Yeah. But the
Brent: Betty markets were wrong in 2020.
Joshua: They were, but they were a lot more accurate this time around than.
Joshua: Yeah. So what happened in 2020,
Matthew: they had some new legalization rules come around that. And I think what ended up happening in this election is like real money came in. So there's this, this French trader who I think made like 70, 80 million on the election. And he, he bet huge on Donald Trump, but the interesting story isn't how much money he made.
Matthew: It's how he actually became confident enough that Trump was going to win to make the large multimillion dollar bet on the betting website. Did you hear the story, Brent?
Joshua: No, that's what's dangerous about the betting markets though. Cause you have one large whale size bet that can really kind of adjust those numbers.
Joshua: But Matt shared this story with me. I'll let you tell it very interesting. So it could create a mirage. Yeah. I mean, if the, you know, if the one side is wrong.
Matthew: So I guess there's this polling strategy called the neighbor, a neighbor poll, and you don't ask someone who you're going to vote for. You ask them who you think your neighbor is going to vote for.
Matthew: And the theory behind this is that people actually tell the truth. And that's always been the thing with Donald Trump is people, some people are ashamed to vote for him or say they're ashamed to vote for him. And what he noticed was when a neighbor, a neighbor poll was conducted that it showed Trump winning by a lot because a lot of people knew a lot more people voting for Trump, right?
Matthew: Or they secretly wanted to vote for Trump themselves, but they didn't want to say it. So my neighbor. So the call it the neighbor strategy. And so he was like, Hey, this is interesting. I'm going to hire a pollster and go conduct my own poll in the U S
Joshua: it's wild and he didn't even
Matthew: do it from here. Oh, no. I think he's
Joshua: in France because you can't.
Joshua: Like at the level they were doing it at, like he, he had to have someone or organize a team in the United States from France to do
Brent: that. So was this one large bet he did at one time, or was he like dollar cost averaging into this? I'm not sure how he got his
Matthew: position. But basically what his poll showed was that Trump was going to win by a lot.
Matthew: He made that bet and you saw what happened. What a gambler,
Joshua: huh? Oh, pay to have your own poll conducted.
Brent: Hey, that's a, that's a good bet. You're betting on yourself to be able to conduct some research and find the outcome. Yeah. Such an interesting story.
Matthew: Any other post election thoughts before we wrap up?
Joshua: No. And I interesting to see what happens next. Happy markets are up.
Brent: I'm thrilled that the markets are doing well. I mean, that's what our clients want. That's what we want for our portfolios. Our clients are happy right now with the results of their portfolios. I mean, we saw pretty good value and I know things will level off a bit.
Brent: You know, next year my market might come down a little bit and who knows what's going to happen in two years, but you know, for right now and for where things are, I think people are happy and it's, you know, it's, it feels good when people are making money and they're doing well, at least for what we do.
Brent: Yeah.
Joshua: There's no, the investor perspective.
Brent: Yeah.
Matthew: There's, there's nothing more enjoyable than sitting with your client and showing them their returns and that, you know, they're super happy and thankful. You know, happy that they're making money.
Brent: I want a client of mine to you know, realize they made X amount of dollars yesterday and then just be like, Hey, sell me X amount of dollars of shares and I'm going to go spend it.
Brent: Yeah, that'd be great because you know, there's nothing better than watching them enjoy it.
Matthew: Yeah. But I think ultimately we're everybody's happy. This election's over. So we could, you know, move on with now the next four years of our life.
Joshua: I think everyone can agree with that. Happy. It's over. Yeah.
Brent: Matt, you want to give us a Evermont group recommends?
Matthew: Yeah. So our group recommends today is for all the listeners to get an X account or a Twitter account. If you don't have one yet. It'll probably take you some time to, you know, get, get some followers and you know, find who you want to follow on there. But once you get it set up, it's going to be better than like a newspaper or watching the news.
Matthew: You'll get so much more information. If you had been on X for, you know, any time within the last month, you could see how much momentum Trump had kind of like behind the scenes, just by reading what people were saying and, you know, election night, it was, it was the place to be. Anytime there's a global conflict, it's the place to be.
Matthew: It's the, it's literally real time news.
Joshua: It's just a really good source of information.
Matthew: Yeah.
Joshua: If you can, you know, take the time to kind of curate your. Yeah,
Matthew: that's true. And you have to filter it because it's Yeah, I don't know how to say say this. They you know, it's citizen news. It's, you know, MSNBC and CNN aren't filtering the news and feeding it to you and telling you what to believe.
Matthew: Like you have to go on there and read what people are saying and then make your own beliefs.
Brent: I would agree that X is a fantastic app to be using and getting your media sources because you are getting media. You're getting information, like you guys said, in real time, and a lot of times it's not biased information, you're just getting facts, and you can form your own opinion, where the media is kind of making you think a certain way, no matter which media you listen to.
Brent: But, on election day, it just reminded me why I don't watch the news. Yeah, it was bad. It
Joshua: was bad. Is this where you get your fantasy football data too?
Matthew: Oh yeah, everything. I love
Brent: my ex on Twitter. I would like to see your screen time on ex.
Joshua: I'm sure we could find the data. It's actually
Matthew: gone up because when I rock my son to bed now, that's what I, like when he's like starting to fall asleep, that's what I look at.
Matthew: Yeah.
Brent: Alright, well, as advisors we love helping people and, you know, that's why we truly do it. We've enjoyed working with our clients this year as we've managed them through some of the uncertainties that were happening with the election. I know the election brings a lot of emotion to people and you know, that emotion can be difficult at times and regardless of outcome, this country will keep moving forward and companies will continue to do well.
Brent: The U S economy will keep moving forward. And if you're looking and thinking about your financial plan and the pieces that make up your plan and you want to strategically align everything together, You want to start building out that retirement plan? Give us a call. Go to evermont. com. You can also get our show notes at retirement plan playbook.
Brent: com. But as always, thank you for listening.
Joshua: Thank you.
Thank you for tuning into the retirement plan playbook. If you enjoyed today's episode and want to stay updated, please click the subscribe button for notifications on new episodes. For personalized financial guidance, or to connect with our team, you're welcome to call us at 909 296 7977, or visit www.evermont.com for a complimentary consultation. Your journey towards a successful retirement plan continues, and we are here to help every step of the way. Until next time, keep building your future. The information covered and posted represents the views and opinions of the guest, and does not necessarily represent the views or opinions of Evermont Wealth.
The content has been made available for information and educational purposes only. The content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.