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MONECO's Weekly Wealth of Knowledge - Week of 11/02/2020

November 03, 2020

The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. November is giving month at MONECO Advisors, so we will be including some pieces on how you can contribute to your community.

In this issue:

  • The Election (3 min read) - With bonus chart
  • Charitable Giving: Smart from the Heart (1 min video)
  • A Seasonal Schedule for Home Maintenance (2 min read)

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This week, we have a video from Managing Partner Ginnie Thompson!


 The Election Process Continues

The American people have voted, casting a record number of ballots under extraordinary circumstances, which is a testament to the enduring resilience of our democracy. Determining the outcome of our elections is a process, but it usually moves so quickly it barely gets noticed. This year it will take longer, but the process itself hasn’t changed. For many, this uncertainty on top of an already heated election season has created additional anxiety and frustration. It’s important to remember, however, that emotion often drives poor investing decisions. This is a challenging moment in our nation’s history, but despite the increased uncertainty, we believe that the nation will move forward. The basic principles of sound investing remain the same: Focus on the big picture, think long term, and stick to your long-term investing plan.

While the process of choosing our next president may last longer than it usually does, the election eventually will achieve a resolution that will be widely accepted by an overwhelming majority of the nation. Our democratic institutions have carried us through many political crises, from the untimely loss of President John F. Kennedy, to Watergate, to the Florida recount controversies in the 2000 presidential contest between President George W. Bush and former Vice President Al Gore. In that case, a disputed election was settled by the ultimate rule of law—the Supreme Court—and the United States moved on. There’s no reason to think the current situation will be any different.

This temporary uncertainty at the polls should not slow our economic recovery, even as the democratic process moves forward, along with the possibility of legal disputes and protests. Politics is the backdrop against which our economy operates, but people will go on trying to make a living, companies will continue to try to generate profits, and the battle against COVID-19 will be won, no matter who ends up occupying the White House.

Markets dislike uncertainty. In the coming days, we could see increased market volatility, as market participants respond to new developments in the 24/7 news cycle. Uncertainty may create opportunities, but for most investors, it’s will be important to be patient and continue to focus on your long-term plans. Companies are skilled at adapting to a variety of political environments, and financial markets most likely will look past any controversies and toward an eventual resolution.

Despite the strong emotions many may be feeling in the uncertain aftermath of Election Day, it’s important to recognize that US political and economic systems are resilient and can, after an adjustment period, adapt to any new reality. Many of our investment horizons extend far beyond this election season and even any particular political cycle. With emotions high, it’s important to focus on what matters most: independent investment advice and executing long-term investment strategies. This shouldn’t change regardless of the timeline for determining the winner of this election.

Please contact us if you have any questions.


Charitable Giving: Smart from the Heart

Although we encourage all of our clients to give back to their communities throughout the year, each November leading up to Thanksgiving the idea always takes center stage. Last year, charitable giving topped over $420 billion! During the entire month of November, our firm will be focused on giving. Our blogs and social media content will also focus not only on the good will of doing so, but also the financial benefits. Should you have any questions about how making certain charitable contributions may benefit your overall financial plan (and your favorite charities), please do not hesitate to reach out to the office! Click here to watch a video about charitable giving.

2020 Virtual Turkey Drive

Help our firm toward the goal of alleviating hunger in Connecticut this Thanksgiving! Nearly half a million people in the state of Connecticut are hungry, and 1 out every 6 children is food insecure. Every year, the number of Connecticut residents who rely on the Connecticut Food Bank and its partner food-assistance network grows. The pandemic has made this year's numbers even larger.

In keeping with the theme of giving for the month of November, we will be holding our Fifth Annual Turkey Drive in partnership with the Connecticut Food Bank and this year they have made it even easier to donate. Simply visit the virtual food drive page on their website! MONECO Advisors will match, dollar for dollar, every donation you make, up to our goal. You contribution will help insure no family goes hungry this Thanksgiving in Connecticut! As a point of reference, for every $10 donated to the Connecticut Food Bank, we can feed one individual for an entire week! Your generosity is so very much appreciated. Click here to donate!


A Seasonal Schedule for Home Maintenance

There always seems to be an endless to-do list of household chores. So, why not split up your chores by season? Use this checklist to keep your home running at its best with minimal stress! Click here to read more!


Important Information

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.

References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.

All data is provided as of November 3, 2020.

Any company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities.

All index data from FactSet.

This Research material was prepared by LPL Financial, LLC. All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.