Personal FinanceDeagreez / iStock via Getty ImagesRich DupreyThis post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.Early retirement is a dream many think about, but reality suggests most will toil away at their jobs until the traditional retirement age, if not longer.There is nothing wrong with that, so long as we continue to regularly put away at least something toward retirement. No one wants Social Security to be their sole means of support. What we absolutely shouldn’t do is let emotion cloud our judgment.Although it’s tough to remain unemotional when investing, it’s worse when we allow politics to cloud our judgment. No matter how you feel about a candidate, becoming hysterical about the outcome of an election and making terrible financial decisions because of it, makes a bad situation worse.Unfortunately, one Redditor on the r/TwoXPreppers subreddit seems to be letting the recent presidential election cloud her thinking.24/7 Wall St. Key Points:Politics should not be your North Star when making financial decisions as emotions can be ruinous.
Fear and greed are the two biggest emotions ruling Wall Street. It is important to ignore both extremes for your financial and mental well-being.
Stocks tend to make even the worst crash a distant memory as bull markets wipe away all vestiges of any downturn.
Also: Take this quiz to see if you’re on track to retire (Sponsored)
The situationDonald Trump, of course, will be inaugurated as the 47th president on Jan. 20. While the sweeping electoral mandate has many people cheering, those who opposed him are disappointed, or worse, on the verge of making some very damaging decisions.The Redditor leans towards the latter. She’s teetering on pulling all of her savings out of her 401(k) plan, selling her house, and fleeing the country over what is to come. She fears economic collapse is coming and wants to know how best to protect herself and her sanity.Now I’m not a financial planner (or a mental health professional), so these are only my opinions, but getting yourself into a frenzy over politics is never a good idea for your financial or personal health. Step one is to go outside and touch grass. After taking a deep breath (or several), realize that no matter who is in the White House, the end of the world is not just over the horizon. Get outside of your echo chambers and see the world around you.Bulls always trounce bearsThe Redditor, though, is concerned about her 401(k). The stock market could very well crash before Trump even takes office as it trades at seemingly unsustainable levels. Yet no one can correctly predict a market top or bottom. As famed economist John Maynard Keynes once noted, “Markets can remain irrational longer than you can remain solvent.”The best advice is to ignore all the noise and just keep putting away money towards your retirement. That’s because market crashe
Sab. Gen 4th, 2025
