Last Chance For Sanity Before the Election
Thinking about leaving the country after the presidential election? I guess some people are taking it seriously. Here are some tax considerations for you to ponder.
I would be surprised if any one of our clients renounced their citizenship. We will survive this situation as we always have in the past.
Things have been this way as long as I've been in this industry: the news is bad, government is broken, and the stock market is unpredictable. News media makes things out to be more important, more dramatic, and more awful than they likely are. While all the bad actors make the news, the good actors are making great products and doing great things!
And they're also making great profits. Whether or not this fact gets any press, companies are making record profits. We are forecasting even stronger profits for 2017. The stock market is humming along at a pace that matches its historical average annualized returns, which are, mind you, significantly higher than almost any other asset class.
So don't panic out now. Expect a lot of emotions over the next few weeks. And if we do have a dip in the market, I expect it to be short term. What's likely to happen instead is a realization that our economy is much larger than our politics--and safer!
E-mail newsletter readers, enjoy this perspective from Nick Murray (please e-mail margo@assetsandincome for Nick Murray's November Client's Corner; we're prohibited from putting it directly on our website).