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Worried About How the Trump Administration May Affect Your Retirement?

Retirement Plans

Worried About How the Trump Administration May Affect Your Retirement Plans?

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The November 2016 election was one of the most polarizing elections in recent history. Many retirees are asking themselves and their advisors, what will the Trump presidency mean for my retirement? At CIC Wealth, we are here to help educate investors and help them make informed decisions. Here are our 3 Top Retirement Tips Under the Trump Administration.

1). We urge you to not let the election outcome derail your long-term investment strategies. Timing the market is never a good idea, but many investors have asked us, “should we sell now, since the markets are so high?” We recommend that you continue with your originally planned investment strategy, that most likely includes an annual rebalancing.

2). We recommend that you not make any big changes to your investments on the assumption that President Trump will be lowering taxes in the future. Although there may be some changes, it is still unclear who will benefit.

3). We recommend that you not change your assumptions about Social Security. If you were planning to wait until age 70 to collect your benefits, then you should continue with that strategy. The Trump campaign promised to protect Social Security benefits. His plans have been vague, but we recommend that you not give up the benefits of waiting, which are very attractive for someone who plans to live a long time.