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How Could The 2020 Presidential Election Impact Your Future?

September 17, 2020

The Principle:

In an election year, there are a lot of discussions about the future and the different ideas the presidential candidates propose. How will it impact your financial future?

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

Will everything fall apart depending on which president gets elected come November? Or will the markets do about the same either way?

Brian says most of his clients are worried about it, one way or another. It ends up putting a big emphasis on whoever is president in 2021. Being completely worried about it might be extreme, but it is something worth paying attention to. When it comes to tax legislation in particular, there is a big difference between the two candidates. Not only that, but your market performance and investment accounts could take a hit depending on what happens.   

How will this affect your future and your finances? You know what your taxes are now, so it may be worth paying them now while you know what you’re paying. It also may be better to be conservative about your investment accounts.

What else can you do to prepare now? Are you contributing to your HSA? What about a Roth IRA? What kinds of investments should you make? Is real estate a good way to invest?

You don’t have to only invest in your 401(k). Know what options you have and what works best for you.

Listen to the full episode or click on the timestamps below to skip to a particular segment.

[0:16] – Is it doomsday if your preferred candidate doesn’t win the election?

[2:37] – What if you’re planning a big sell this year?

[3:28] – How are executive orders being passed down?

[5:18] – What should the average person do?

[8:46] – Get the match, but what do you do beyond that?

Today’s Truth:

How is this going to affect my future? It doesn’t matter which political aisle you’re on, it can really hurt your investment accounts, market performance, your taxation in the future — there’s a lot to pay attention to.

Brian Bowen

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Brian Bowen Integrity Financial Planning Roanoke Virginia discusses the deferred payment plan Bobby Bonilla and his agent were able to work out