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Financial Advice

The 2020 Election & Your Money

Our take on the economic and investment implications of this year’s election.

It’s the day after the election and, as many expected, we don’t know who will win the White House.

What should you do in light of the undecided election and uncertainty? Nothing--or at least do nothing with your portfolio that has anything to do with whom you expect to win. Your time horizon and goals should determine what your portfolio looks like. Who wins the White House should have nothing to do with it.

That being said, the election’s final outcome may have policy ramifications for investors and their money over the long term. Those may include retirement-related issues, such as Social Security’s solvency and the availability of environmental, social, and governance funds in employer-sponsored retirement plans, the costs of healthcare, the future of Medicare, and taxation.

In this special report, Morningstar experts weigh in on what we know so far and what the economic and investment implications may be. Bookmark this page, as we'll be adding content over time. What Could We Expect From a Biden Presidency? The Democrat's platform proposes major new spending programs, including healthcare, clean/renewable energy, infrastructure, and education, among others.

The Election and Our View on the Healthcare Industry The two major U.S. election scenarios will not change our view of the healthcare industry's moats or valuations.

Election Seems to Ease Concerns on Drug Pricing Changes Although the outcome of the U.S. election is still uncertain, we do not expect the results to affect our valuations or moat ratings in the biopharma industry.

What the Undecided Election Means For Investors A discussion of taxes, stimulus, regulation, and the likely market reaction as we get results.

Which Stocks Will Benefit from Cannabis' Landslide Win? Every ballot measure was approved.

We Still Expect a Strong U.S. Market Recovery Neither the U.S. election outcome nor the coronavirus third wave will derail it.

Don't Make Rash Decisions Due to Election Uncertainty Regardless of who wins, long-term investors should remain focused on the economic recovery.

This Is Your Brain on Uncertainty How to keep your (investment) cool when the future remains unclear.

Freaking Out? Before You Sell, Answer These Questions Here are some key things to consider while thinking through investment decisions.

Uber, Lyft Drivers Remain as Contractors California voters approved Proposition 22, which allows Uber and Lyft to categorize drivers as contractors. Which Healthcare Policy Scenarios Remain Possible With the U.S. election results still uncertain, all the possible scenarios for healthcare policy changes remain on the table.

Pre-election Insights

Don't Try to Time Elections Resist the urge to let predictions affect your portfolio.

What Could a Democratic Clean Sweep Mean for Policy, Taxes, and the Economy? Macroeconomic impact will likely be muted, and the boost in taxes and spending won't be unprecedented.

How Could the Election Impact U.S. Equities? In the event of a Biden win, aftertax earnings could take a hit from higher corporate taxes.

U.S. Oil and Gas Doesn't Need a Trump Win to Thrive Weaning America off fossil fuels will take decades, even if Democrats sweep Congress in November.

How the Upcoming Election Will Shape Regulation A look at utilities, energy, and the budding cannabis industry in a continuation of the Trump presidency or a new Biden administration.

3 Big Policy Areas That Election Outcomes Would Sway We examine the major contrasts between the two administrations when it comes to tax policy, international relations, and infrastructure and how companies would fare.

Possible Biden Win May Spur Cannabis Industry Growth Companies with U.S. exposure are better positioned to benefit from easing prohibition.

What a Biden Presidency Could Mean for Utilities Clean energy plans could be long-term growth opportunities.

How the Election May Impact Policy Policies for financial advice, 401(k)s, and more can take a turn depending on results.

What the Election May Mean for Retirees and Healthcare The next administration will face several healthcare-related issues. Contributor Mark Miller unpacks some of them.

Fate of Canada's Pipelines Could Hinge on U.S. Election The Keystone XL is more in question than the Line 3 replacement.

Will a Turbulent Election Derail Economic Recovery? As Election Day nears and the coronavirus vaccine trials continue, headlines may lead to volatility, but we expect economic rebound to keep on.

3 Portfolio Moves to Consider Before the Election For those who can't sit still, here are a few ideas to pursue that won't derail your long-term plan.

Biden's 401(k) Plan Is Vague, but Worth Paying Attention to Joe Biden's tax plan would overhaul retirement plan tax benefits.

Election Impact on U.S. Healthcare Looks Modest Our moat ratings and undervalued view of the MCO and drug/biotech sectors are intact.

What the Election May Mean for Social Security The next administration will face key policy questions related to the program's long-term solvency, says contributor Mark Miller.

Sustainable Investing and the Election Part I on our series on the election and ordinary investors.

Fiduciary, Best Interest, or Something Else? The election will determine the next move in the ongoing battle over the regulation of advice.

Presidential Elections Don't Matter (for Investments) The silly season is upon us, says John Rekenthaler.

The 2020 Election & Your Portfolio The bumps and bruises of election time may tempt you to shift your portfolio strategy. Here's why you shouldn't, according to Christine Benz.

What a Biden Presidency Could Mean for Drug Pricing Reforms are likely to be moderate, and we don’t expect significant changes in 2020.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

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