Mike Bornstein, Wealth Management Advisor

Will this article on how the stock market tends to performs after the first presidential election hold true after tonight?

This is a unique environment for fixed income within investment portfolios. Is it time to re-evaluate fixed income?

Studies show there is still a lot of concern regarding the markets and their recovery this year. Primary among those concerns: Coronavirus, the presidential election and the Federal deficit. Feel free to reach out and discuss your portfolio, goals and objectives.

Interesting data on consumer spending. While the chart below is dated (2009 data), based on the percentages listed, 2019 consumer spending data has remained relatively the same. Based on 2019 data: The average age is 51 The average income before taxes is $85,852... The average annual expenditures is $63,036 As a percentage of total spending, in 2019, Americans spent: 12.99% on Food (same as 2009) 32.8% on Housing (down 1.63% from 2009) 4.4% on Mortgage Interest (down 2.92% from 2009) 17% on Transportation (up 1.39% from 2009) 8.2% on Healthcare (up 1.83% from 2009) 11.4% on Insurance/Pensions (nominal increase from 2009) Source: Consumer Expenditure Survey 2019 (US Dept. of Labor, US Bureau of Labor Statistics, September 2020)