Answers & Observations

Chris Jennings CFP® and Wealth Advisor at Heron Wealth discusses The Plenty of Time Fallacy. It's normal for us to put off planning for our future, but why? Chris shows us how we can get past these elements of procrastination to plan now and live well.

For a while, amid everything else that’s happened in 2020 — pandemic, racial tensions, economic insanity — it was easy to forget that this was also a Presidential election year. In the face of COVID-19, it’s hard enough to imagine the logistics of it taking place, much less predict the result.

But as investors, it’s our job to imagine a variety of possible futures, and plan for each of them. As much as discussing politics has become about as fun as throwing your shoe at a wasps’ nest, in our latest webinar, we attempted to do the impossible: talk politics, analyze the 2020 political landscape, and envision how different outcomes might impact our financial lives.

Regardless of your vantage point, it would be hard to find a better word than “insane” to describe the year 2020. From a global pandemic, to its historic economic consequences, to enormous sociopolitical unrest, 2020 looks nothing like any year before it.

However, we as investors still need to do what we can to make savvy financial decisions. Despite an overwhelming sense of uncertainty, and an ever-distorted definition of the word “normal,” it’s our job to wrap our heads around the various conditions influencing our moment, and discern something like order in the chaos.

The last 6 months have been pretty tough times for most Americans - pandemic, protests, unemployment and economic recession. Unfortunately, we project that the next three months - August, September and October - will be even worse.

David Edwards discussed the disconnect between recent economic performance and stock market performance. Here is the replay of the webinar