Monday Morning Money

Ask a CFP Pro: What Will Happen to the Stock Market if Trump Loses?

July 5, 2020

Welcome to our second Ask a CFP® Pro show.  Today we talk about:

  • An update for the stock market for the first half of 2020. (0:46)
  • Some tax relief if you took your Required Minimum Distribution early in the year. (3:07)
  • A tax deduction created by the CARES Act (even if you don't itemize).  (3:44)
  • And answer your questions.

Here are the questions:

  • The money in my checking account isn’t earning anything, and I probably have too much in that account anyhow.  What can I do to earn a better return on my cash? (5:02)

  • Will the Charles Schwab – TD Ameritrade Merger affect me? (9:31)
  • If we are setting up a college account for a grandchild, do we have to open the account in the state in which they live? Can we set it up in Ohio even though they live in North Carolina? (11:28)

  • What are some of the things people with lower income, who are just getting started invest in? (13:41)
  • How do you select dividend producing stocks? (17:03)

  • What if President trump loses the upcoming election, What will this do to the stock market? (20:45)

  • What is the best way to invest for retirement about 10 years before you retire?  Is it best to pay off your house before retirement? (23:59)

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