Donald Trump will be president in a matter of days, regardless of what Russia may have on him. He may be impeached in a matter of days too, but that is less certain.
But, whatever the days ahead may have in store for us, under any of many scenarios, the news ain’t good. Not good for the country, not good for its people, not good for the confidence we all share that the sun will come up in the morning and set in the evening, and certainly not good for the markets. Even the most optimistic among us must accept that the political, social and economic pillars we have rested on for centuries have become dangerously unmoored. Any and all things, positions, and people we have taken for granted are up for grabs.
It doesn’t take a genius to see that we are on our own. Listening to familiar gurus is of little help – they know no more than we.
So what are our absolutely next steps:
- Stay optimistic. It is hard to believe that the country won’t have wherewithal, the fodder, and the good sense to impeach Trumputin in the early weeks and months.
- Retain relationships with all. This will be over and, as a nation, we will move forward again.
- And don’t be a fool and assume that we will get out of this unscathed.
Thus, act in your own interests and take commonsensical steps to protect yourself in this tumultuous period:
- put aside an emergency fund
- reduce you exposure to markets that will reverse themselves
- regardless of how much or little money you have, be prudent and strategic by putting most of it in FDIC and NCUA-insured savings and CDs