DOTHAN, Ala. (WDHN) — With the election around the corner, there are concerns that investing in the stock market could be a bad idea.
One thought is that one candidate will be better for the market than the other. However, on financial advisor said something different.
“Over the last 50 years, the three months before elections no matter who won, the average, or who was running, the average was about a one percent gain in the three months before and actually a 4 percent gain in the three months following the election,” Ariss Financial Group advisor Marc Hall said.
Hall suggested people to continue investing the way they need to regardless of the election outcome.
Focusing on individual goals that will help them in the long run instead of how the election or even the pandemic will momentarily affect the market. Trying to time the market isn’t a good idea.
“That’s when you can really get into trouble with what you’re doing,” Hall said. “Because what we see right now is you may be asking the question if this person wins ,I want my money in the market. But you look at many years of experience in the market, and you see it’s not a straight lineup, but over a 50, 60, 70 years of the market, you do see increases going across the board.”
With the recent rise in COVID-19 cases, stocks have slid, but Hall said not looking at the short term and getting caught up in emotions is important.
“If we look at the longer term and focus on our goals and what we’re trying to achieve over the long haul, that’s where you’ll make great decisions over time,” Hall said.