The election just happened and that means there will be some shenanigans after the election! Today we talk divisiveness in political discourse, the inefficiencies in government spending, and the challenges posed by increasing national debt and interest payments. The inefficiency in government spending and decision-making extends across the board so you need to be aware of your own finances and investments. Focus on your pragmatic investment strategies amidst economic uncertainty, especially after the election, and you'll be on a better track. Today we discuss...
- How politics is largely unhelpful for investing discussions.
- Today’s society often discourages open, contradictory opinions.
- Election results are here, and market stability would benefit from a decisive winner.
- Government spending has increased while private sector growth lags.
- Government debt interest payments have surpassed national defense spending.
- The economy faces challenges as more jobs shift to government, education, and healthcare.
- Older generations dominate U.S. power structures, limiting opportunities for younger leaders.
- Economic solutions are limited to either growth, inflation, or reduced spending.
- The government, healthcare, and education sectors often suffer from inefficiency due to regulation.
- Technological advances in housing and nuclear energy are slowed by regulatory oversight.
- Crypto has been highly volatile, though fixed-income investments have also been risky in recent years.
- Significant donations from the crypto sector went to both political parties in the last election cycle.
- The market’s response to election results is likely stable unless there is a contested outcome, which could trigger volatility.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
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Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners