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the political landscape into my investment strategy, I look to Warren Buffett, who has often said that if you’re mixing politics and investing, “You’re making a big mistake.” While it’s true that political rhetoric, policy decisions, and outcomes in the Beltway influence the stock market, it’s unwise to make rash decisions based on political trends or events. Throughout our history we have encountered many tense political times that may have stopped potential investors from investing in their future, thus damaging their opportunities to build wealth. So, what to do? A good start would be to review your investment portfolio and ensure your asset allocation is appropriate when considering your objectives, time horizon, and risk tolerance. For those who have plenty of time to invest and are continuing to inject funds into their portfolios, there may be little to do at the moment. For others, perhaps those who are nearing the end of their earning days and will soon be relying on investment
funds in retirement, more action may be appropriate. As rates increase, fixedincome investments will become more attractive, so a shift from growth to fixed income could be a possibility. The New Year is a good time to provide updates to your financial team, so if you haven’t reviewed your situation with your financial advisor recently, go ahead and initiate that conversation. If you don’t have a financial advisor, perhaps 2019 would be a good time to form that relationship.
James W. Vermillion III is a wealth advisor for Hilliard Lyons in Lexington, KY. Call (859) 255-9681 or visit jvermillion.hilliard. com for more info. Securities and Investment advisory services are offered by J.J.B. Hilliard, W.L. Lyons, LLC (Hilliard Lyons), a Registered Broker Dealer and Investment Advisor, Member NYSE/FINRA/SIPC. Trust Services are offered through our affiliate, Hilliard Lyons Trust Company, LLC. Visit Hilliard.com for states James W. Vermillion III is registered in. For additional disclosures, please visit disclosures.hilliard.com.
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What does this mean? On the surface, it means that borrowing money will likely continue to become more expensive. Lowinterest rates have been in place since 2007 when they were rapidly reduced as a part of the post-recession recovery effort. When interest rates are low it encourages consumers and businesses to spend, but if they stay too low for too long, it can lead to mal-investment and ultimately a busted bubble. On the plus side, when rates rise, savers earn more money on their cash and cash equivalents, and fixed-income products become more attractive. Much of the interest rate anxiety stems from the fear that the Central Bank could over-tighten, essentially pumping the brakes on the economy. However, based on recent comments from the Fed, they are likely to be patient in 2019, taking care not to raise rates too high, too quickly. Another current hot topic is the government shutdown, which became the longest shutdown in U.S. history. When determining how to incorporate
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