People whose futures are tied up in their 401(k)s - retirees, those who are planning to retire, and those who will retire in decades - are getting a little cranky during this contentious election results period. KTRH Money Man Pat Shinn says the market will survive no matter who is elected. "All Democrat government means stocks will do well. All Republican government means stocks do well, but not as well as all Democrat government. The best market results come when there is a mix of parties governing the country." Example: Joe Biden is officially named the 46th President of the United States and the Republicans control the Senate. "If the Republicans do keep the Senate, and Biden officially becomes the President, we will see some gridlock. In regard to the market - Gridlock is Good."
Minding Your Money - Don't Sleep on your 401(k)
If you add the rise in Covid-19 positive numbers to the uncertainty of what will happen in the Federal Government, some more investors are afraid of a massive shut down and being laid off as well as their investments tanking. Shinn says Trump doesn't want a lock down as long as he is still in office, and he doesn't see a major fall in the market.
Shinn reiterates: "Again, the best return is when there is divided government. If Republicans keep control of the Senate. Joe Biden will not be able to pass The Green New Deal, change taxes, there will be no Medicare for All."
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