Ep 11: From Travel to Campaign Donations: Financial Topics in the News

Today, we’re talking about financial topics in the news, including the travel sector and campaign donations. Find out how these things can affect you and your planning process.
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Show Notes For This Episode

On this episode of Saving the American Dream, we’re talking about financial topics in the news and how it could affect you.

Travel sector

Since the rollout of the vaccines, more and more people are planning to travel this summer. Southwest and American are both reporting an uptick in travel, and Southwest reported a profit for the first quarter instead of a fifth consecutive quarter of losses.

So, how should we view the travel and tourism industry from an investment standpoint this year?

We want to make sure we’re staying focused on having a diversified portfolio, not stock picking and not market timing. Those have no part in how we manage our clients’ investments.

A lot of these companies have a financial hole that they need to dig out of, so that’s one thing that to keep in mind. The other thing to keep in mind is how these expected increases in demand for travel and tourism are already factored into the price of these travel and tourism stocks.

Campaign contributions

Between campaign donations and lobbying efforts, Wall Street corporations spent a record total $2.9 billion on political contributions. President Biden’s campaign was a recipient of $252 million, while Trump’s campaign got just over $100 million.

Most of the net new jobs in this country are coming from small and medium sized businesses. Most of the companies that are throwing large amounts of political contributions to candidates in both parties are companies that employ more than 500 people.

We’re at a point where there’s just such a huge disconnect with who these candidates are actually representing because they’re representing the companies and the people that are giving them the money. A lot of them are just focused on campaign financing and getting reelected, and they’re career politicians.

“These career politicians don’t give two craps about any of the companies that I work with that are small and medium sized businesses,” said Michael.

Listen to the full podcast or use the timestamps below to jump to a specific section.

 

Navigating the Show

[1:30] – Travel sector

[6:18] – Campaign donations

[10:42] – Market

[13:07] – Economy

[16:21] – Mailbag: Dream home

[18:59] – Mailbag: Emergency fund

 

We want to make sure we’re staying focused on having a diversified portfolio, not stock picking and not market timing.

– Michael Schulte

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Copyright 2020 Saving The American Dream Podcast. Michael Schulte is an investment advisor representative and certified exit planner with WestPac Wealth Partners, located at 330 South Center Street, Suite 344, Casper, Wyoming 82601. The podcast is for informational purposes only. Individual risks and investment objectives must be reviewed prior to making any recommendations. Podcasts are for informational purposes only. Any guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or WestPac Wealth Partners and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Michael is a Registered and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 5 Centerpointe Dr Suite 150, Lake Oswego, OR 97035, 503-207-4550. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WestPac Wealth Partners is not an affiliate or subsidiary of PAS or Guardian. 2020-105459 Exp 07/22.