Key Election Issues Impacting Retirees
September 12, 2024
With the 2024 presidential election nearing, it is still unsure how things will pan out with government or what new circumstances could shift a given administration’s focus moving forward. That said, it is never too early to speculate. Especially when considering retirement and future finances. After all, the best way to adjust for unforeseen developments is to have a plan.
Regardless of political leanings, the parties will have differing economic policies that will affect your retirement planning. No matter which party ends up in the White House, history reveals that many more policy discussions will pan out with a new legislature before new laws or regulations are established.
Here are some current actions to protect against an uncertain future1:
- Make tax optimization moves on your retirement money while tax rates are at all-time lows.
- Insulate your investments from market crashes before they come, whether it happens this year or a later year.
- Set up retirement income layers that are preserved from economic and market volatility. This is so your retirement lifestyle does not go on a stock market roller coaster ride.
- Do not wait in the hopes the market will be higher just before or after the election in November and that your chosen party will make changes to benefit your finances.
There is no shortage of options available to you when looking out for your future. Contact us today and find out how you can best prepare for what comes next. Learn more about how current issues could benefit your retirement plans and if a financial professional could help put you in a better situation moving forward.