The Positive Today

We wake this morning to a new day, one that has had the world markets tumbling overnight at the news of our US President elect. I write this before the markets in the US open, already aware of a 5% drop in value. When the market opens at 9:30 a.m. EST, the markets will probably continue their downslide.

It may be tempting, but the event of a presidential election is not an event that should cause panic. Nor is it an event that should trigger impulse decisions. If anything, a downturn in the market provides us with opportunities.

Today, and probably for a few days or more to come will be a good time to sell off holdings in taxable accounts that are at a capital loss; thereby creating a tax benefit for, potentially, years to come. You remember the old adage, “buy low, sell high?” The next few days will bring us opportunities to buy low.

Historically, volatility in the market displayed around a presidential election does not last long. Historically, the markets do rise. I expect no different following this election. How far will the down go down? When will the up begin to go back up? Well, my magic crystal ball gives me no answers today. What it tells me is that now is a good time to take advantage of the opportunities provided.

  • Now is a good time to consider and write down your goals for the next six to twelve months.
  • Now is a good time to realize that only you are in-charge of your future.
  • Now is a good time to remember that you are in control of how you respond to everyday challenges.
  • Now is a good time to remember that you are in control of how you treat all life around you.

Your smile and kindness are yours to share. Today make lemonade out of market lemons. Take a moment to breathe and center yourself; find your positive spirit and pass along positive kindness.

At Harbor Light Planning, we do not believe in market timing, nor do we have discretion over client assets. We do not trade without your knowledge and approval. If you would like to take advantage of the tax and buying opportunities handed to us today, please contact your financial advisor. They should be able to provide recommendations based upon current capital gains/loss reports in your taxable accounts and provide recommendation on buying opportunities available with cash in your accounts (taxable and otherwise).

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