Politics vs. Profits: Why Your Portfolio Should Ignore the Headlines (Ep. 84)
As election season approaches, the inclination to let political developments sway your investment decisions becomes almost irresistible. However, the consequences of doing so could be financially detrimental. In the latest episode of The Lawyer Millionaire Podcast, host Darren Wurz unpacks why keeping political considerations out of your portfolio strategy is imperative for long-term financial success.
Darren discusses:
- The startling difference in returns if you had only invested during Republican or Democratic presidencies versus ignoring politics altogether.
- Emotional biases that lead to poor financial decisions.
- Real-life examples showing the resilience of the market despite political turmoil.
- The importance of diversification, long-term focus, and rebalancing your portfolio.
- Why market fundamentals like corporate earnings and global economic trends matter more than who is sitting in the Oval Office.
Resources:
- Book a Call with Darren
- Wurz Financial Services
- The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
- LinkedIn: Darren P. Wurz
- Investing based on politics is a bad idea for your portfolio
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