2020 has been a year to forget, and tomorrow is certainly going to another one of those days. I’m sure you are just as disappointed as I am that Tuesday’s episode of The Bachelorette will be bumped to Thursday for election coverage. We’ll have to wait a couple extra days to find out the tumultuous end of Clare Crawley’s season. It’s also likely that we’ll have to wait a few extra days to find out the results of the 2020 Presidential election.
Recent polls show Democratic nominee Joe Biden leading President Trump both nationally and in key battleground states. With high numbers of mail-in ballots to process, there are signs that counting may not be complete until later this week. This week is certainly set up to be politically contentious with a high probability of volatility in financial markets. With the election in mind, here are four things we know and four things that we don’t.
This isn’t a shot at Dave Ramsey. If you’ve ever tuned into the nationally syndicated radio show, the lead coming out of the break usually goes something like: “Where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice.” Dave has certainly helped millions all over the world as the de facto budget guru and debt’s greatest adversary. But this StonebridgeFOCUS is not about debt, rather why is cash not always king?
Did you know that the concept of retirement wasn't around until the 1880s?
It wasn't seriously considered until German Chancellor, Otto Von Bismarck, proposed the idea in 1883 before the Reichstag (German Parliament). By today's standards, the Chancellor's forced retirement program at age 65 would be considered a form of ageism. But, it's worth considering why it took so long for retirement to come around.
It’s shaping up to be quite a memorable year—and we still have the entire second half of 2020 to go. Last month, the COVID-19 pandemic finally started to abate in the US after months of social distancing and a near shutdown of the economy. As fears of the coronavirus began to dwindle, news of national racial tensions—exacerbated by the senseless death of George Floyd—began to resurface. At month’s end, one crisis was slowly improving while the other was picking up steam—all with the backdrop of an equity market that has largely shrugged it all off. This is in contrast to Wall Street’s major indices tumbling more than 2% on Friday as several U.S. states imposed business restrictions in response to a surge in coronavirus cases.
Recently, Parametric Portfolio Associates published a Research Commentary entitled, “Munis Shine in May,” which we thought would be of interest.