In this episode, I dive into a topic on many minds right now – how the upcoming presidential election could affect your finances, investments, and taxes. With all the talk of changing tax laws, potential market shifts, and political promises, it’s easy to feel uncertain about the future of your money. But here’s the truth: who you elect locally matters even more than who becomes president.
We’ll cover:
- Why local elections often impact your taxes and finances more than federal decisions.
- How our government’s checks and balances help prevent drastic changes, regardless of who’s president.
- The dangers of waiting to invest or make financial moves because of political uncertainty.
- Why the best opportunities often come when others are waiting on the sidelines.
- How to focus on smart, educated financial choices instead of media-fueled fears.
If you’re holding off on making decisions until after the election, this episode will give you the confidence to move forward now, ensuring that your money is working as hard as you do.
Listen in to understand how to protect and grow your wealth no matter the political landscape.
TRANSCRIPTS
Speaker 1 (00:00):
Did you get some kind of voter thing in the mail recently and you’re wondering, how is this presidential election going to affect my money? What will happen? What’s going to happen with my taxes? That’s what I’m talking about in the show right now. Hello, my fellow Ripples. This is Chris Miles, your cashflow expert and anti financial advisor. This show is for you, those of you that work so hard for your money and you’re now ready for your money to start working harder for you today. Why? Because you’re sick and tired of your money not working harder for you. You’re sick and tired of having to work each day, whether it’s in your business or your job, and you want that financial freedom now, not 30 or 40 years from now, but today, so you can live that life that you love with those you love.
(00:52)
And most importantly, it’s not just because you’re here to get rich, but you want to use this money for good. You want to be able to bless more lives because as you’re blessed financially, you can now create a ripple effect through the lives of those around you, and not just a ripple effect, but a greater, bigger ripple effect. And that’s exactly why I’m here today. Thank you for allowing me to do so. Appreciate you guys tuning in and sharing it all that you’ve done today. As a reminder, guys, if you haven’t tried following us on social media, check out anything that’s at Money Ripples, at Money Ripples on Facebook, TikTok, Instagram, whatever it might be, LinkedIn. We’re there. Be sure to follow us there today. So I’ll tell you a lot of conversations I’ve been having with people lately. They’re all asking you, probably asking as well as should I be doing anything before I know what’s going to happen to this election?
(01:37)
If it’s Trump getting elected, it’s something going to happen there. If it’s Kamala Harris, if she gets elected, tax rate is going to go through the roof, am I going to be better or worse off? What’s going to happen, guys, I’m going to give you the short quick answer and then I’m going to expound upon why. The short answer is this, guys, it doesn’t matter who becomes president, what really matters is who you vote and elect locally. That’s it. The local laws, the tax things that you actually do get taxed on your property taxes locally, those are things you can actually affect. But the truth is when people say, well, is it President Trump? Is it Kamala Harris? Is it her? What happens if either of them get elected? Here’s the thing. They’re going to make proposals. They’re going to try to propose their own tax plans or their own laws or whatever they want to put into place, but there’s one big force standing in their way.
(02:24)
Congress, senators, house of Representatives, those two branches of Congress that make the laws, they are also the ones that can override the president. So rather than trying to focus on which president is and what will they do, and are they just talking out of one side of their mouth and lying to you and saying whatever story they want to get you to believe so that you’ll vote for them, which probably is sadly a little bit too true, but regardless, it’s not about them because every time a president gets elected, guess what? The world doesn’t blow up. I know everybody thought that for certain we’re going to go into World War III because Trump got elected in 2016. Didn’t happen. Then of course, when Biden got in, they thought, oh, now the whole, this world’s going to be destroyed. Our US is going to be destroyed.
(03:06)
Now, I’m not saying they did a great job, but our country’s still standing. We’re still such a strong country that we’re going to keep ourselves moving forward regardless. Regardless of who we vote for, this is the power of this. Checks and balances system checks and balances allow us that. Make sure that we have lawmakers, we even have judiciary committees. We got the justices that actually go and challenge say, is this constitutional or not? We got all these checks and balances in America that make it so much easier for us to move forward. So here’s the problem. I’m seeing so many people, and I’m not saying all of you, I’m not saying that. There’s several people that I’ve spoken with recently that will say, well, once I know who’s in office, then I can feel more confident about moving forward in my finances. You’re just losing time because guess what’s saying to happen that’s going to happen.
(03:56)
Then you’re going to say, well, I mean they’re not in office yet, so I mean I might have to wait until after the end of the year. Maybe I’m really into February, March and their first 90 days, April, and then you keep postponing missing out on the opportunities to grow your wealth. Now, like I said, the president, doesn’t matter who you elect, locally matters more, but even then guys, because all these checks and balances, it’s not that big of a deal. It doesn’t mean that we don’t move forward as a country because as a country we have amazing resolve. We don’t like being bullied around here in America. We don’t like being told what to do. This is why you can’t have a dictator work in this kind of not just economy. You can’t even have a dictator work in this kind of government. Nobody wants that.
(04:38)
In fact, people will rebel. Americans naturally want to rebel against people that want to take control of their lives. We have enjoyed our freedoms for so fricking long. We probably take, it’s not a probably, we do take advantage of it. We’re taking it for granted, and yes, the younger generations sometimes even want to be told what to do in life. I’ve seen that trend and pattern as well. They just want to kind of align with whoever’s in charge, that authority figure that aligns with their values. They want peace, and I don’t blame ’em because people like us, the Xers haven’t been great at keeping the peace, definitely having the boomers right, us and the generation X as well as the boomers. Yeah, we’ve definitely been arguing a lot. We get very passionate about what we are because we’re very independent. On the flip side, we can learn a lot from the younger generations of the millennials as well as the generation Y or well generation Y as the millennials, generation Z that are just starting to come into adulthood more.
(05:29)
Yes, we can learn a lot from them from trying to be more peacemakers and more community-minded, but working together, that’s what makes it great. That’s why you elect people locally, work on those local laws work and getting the people in office and don’t just get people because they talk a good game. They lie out of one side of their mouth and then the next side, they’re just telling you what they’re actually going to do. Actually, they won’t tell you. They’ll just do it. If you’ve been following this podcast, you’re probably looking for great ways to create passive income right now, right? Well, we got you covered here. Central lending. Central lending specialized in alternative investments that actually are designed to create steady returns and long-term financial security for you and your family. Now, they prioritize transparency. They love building those strong relationships, giving you that confidence and peace of mind knowing that you have your money working harder for you so you don’t have to work so hard for that money.
(06:15)
You want to learn more how to do that. Go to central lending.com and check out what they’ve got today to create your passive income and wealth creation right now. It’s hard to trust those people, and I get it. It gets me a little bit jaded sometimes too, but what gives me hope and what gives me faith to keep moving forward, to keep investing regardless of these is because I know it’s not going to matter because the market’s going to move forward the same way it was going to move forward before versus after the election. It’s going to be the same guys. Yeah. Now, there could be things that could happen, but I’m telling you, if you see stock markets tank after the election, let’s just say that happens to be the case. Maybe it booms after the election, guys, whatever’s supposed to happen will happen.
(06:57)
Even if it starts to move in a certain direction, it will only happen because, well, here’s what ultimately happens. If markets boom, but the market’s not really that good, it’s going to correct itself and it’s going to come crashing back down harder. If markets go down fast and then economy is actually stronger than what people are feeling, it’s going to bring itself back to equilibrium, come back to where it should be, and so it doesn’t really matter in the short term what’s going to happen here. What does matter is though is how long will you go before you finally feel unquote ready and safe and feeling comfortable? The truth is that the reason you may not feel certain or uncomfortable or comfortable to do anything right now is because you didn’t before, and so it’s very easy to explain, to really use an external factor like who’s going to be in office, right?
(07:46)
Politicians and tax laws and everything else that say, well, I’m going to wait until that happens, guys, that strategy does not work, okay? It does not work. You don’t know what’s going to happen. Nobody knows the future, and the truth is most of the time the media blows it out of proportion to be something way bigger than it ever ends up being. The truth ends up being usually way farther to the conservative lack of newsworthy type of events. As a result, the only thing can be is that self-fulfilling prophecy, so don’t let this be the mistake that you make to keep you from moving forward, to keep you from really taking action, and I’m going to keep this podcast short just for that reason, guys, is that if you’re worried about who you’re voting for, vote for your local politicians who represents you in your state and in your community, focus on that.
(08:39)
Vote for wherever you’re going to do for president, but the truth is, I don’t think they’re going to do anything and no matter who gets elected, I don’t think if Kamala Harris gets elected, marks come crashing, just like I don’t think if Trump gets elected, marks go booming, like some people say it’s going to happen. I don’t believe it. Now, it could happen for a few days because there’s certainty and then people will throw money in the markets, but it always comes back to whether the average, the mean is right. It always comes back to what it’s supposed to be, so don’t get caught up in all those swings. Don’t get caught up in all that chaos. Don’t get caught up in the media. The more media you consume, the worst is going to be the best thing you can do is start working now from now.
(09:19)
Don’t hold off on investing because the best opportunities are when people are scared to invest, so when everybody else is putting off to the side, they’re not making any decisions, guess what? You can. There’s people that literally are not buying houses right now because they feel like they got to wait until they know who’s the president. Great time to buy a house even for yourself and your family could be a great time because people are like, ah, I’m just not sure. I’m just going to wait to see what happens. Don’t wait. The people that if you wait like everybody else, you’ll get the results like everybody else. If you want results that are different than the average American, you need to be different than the average American doing different things and reacting and responding in a different way. If you respond by, I’m going to wait until after the elections, which then means you’re going to wait until after January when they get inaugurated, then you’re going to wait until after the spring when they do the first 90 days to see what they actually really do In reality, they actually fulfill any of their promises.
(10:08)
You’re going to realize you just lost a half of a year of amazing opportunities. Don’t fall into that trap. Don’t be like everybody else. Do what’s different and you will have better different results. The masses will often make bad decisions when it comes to things that happen in the market. It’s the few of us that don’t let emotions overrule us that say, wait, where is there opportunity right now? Where am I looking right now when everybody else is being distracted and looking away? Where can I look to find those things, and that’s what we focus on. I know with my own investing, I know that my team does too. We’re always focused on where is the opportunity right now, guys, that’s what you should be focused on. Now, I know this is coming out pretty much about the time you’re voting, so anyways, don’t wait. Don’t get caught in that trap. Take action today. Be willing to take good educated action, and don’t just do it ignorantly, but do it in a way that makes sense, that’s smart, not driven by emotions or the media, but what’s doing correctly for you and your family to ensure that you have that freedom, that prosperity right now, go and make it a wonderful and prosperous week. See you later.