2 Ways to Keep Faith in Your Finances

Read Time / 2 Minutes

Theme / Faith & Finance

As the Presidential Primary elections roll forward, there’s a few questions that we often hear when meeting with people:

“If ___ gets elected we'll be in trouble."

"It feels like we're going the wrong direction."

"Should we ____ in case ____ gets in office?"

Election season brings along uncertainty. Who is going to be in power? How is the economy going to react? What does that mean for my retirement? Of course, we don't have all the answers. We can study charts, analyze historical trends and dissect economic journals to get a best guess, but realistically we are still functioning with unpredictable variables. So, how can you battle against the unknown in this coming election cycle?

1. Create a plan:

Meet with your financial advisor and create a plan that answers the questions "If ____, then ____. Am I okay with that outcome?" Ask yourself and your advisor what to expect if the economy has a contraction and ask what to expect if we experience economic expansion. Build out a financial plan so that regardless of what happens in the next 10 months, you feel confident that the long-term health of your retirement is moving in the right direction. Ultimately, it is not the 10-month performance of our portfolios that we want to maximize, but the 10 year (plus) performance that is crucial to financial health

2. Trust in the Lord:

During times of uncertainty, I often come back to Matthew 6:34,

“Therefore, do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble."

You cannot control market performance, nor can you control the outcome of the election; you can control where you put your faith. Take time out of your morning to pray for the country, our economy, and your long-term financial health. Trust that regardless of what comes in the next year or so, that the Lord is our provider.

Nathan Carroll

Registered Assistant

208-918-8655

nathan.carroll@christianwm.com