Prescott just got a massive reminder of the upcoming election when the president visited this past Monday. As a financial advisor in Prescott, the election has been on the top of my mind. I’ve had several clients, the general public, and even the media getting in touch with me to see how the upcoming election might impact their retirement. With that in mind, I’m holding a series of webinars over the next couple of weeks that will help people understand how to navigate retirement planning during an election year. Especially an election during a pandemic. Here are a few of the takeaways and items that we will be exploring in the upcoming webinars.
No Matter The Outcome of the Election Taxes Will Change
Even when a president wins a second term, taxes will likely be impacted. When an incumbent wins an election, the changes to taxes are almost always more subtle than those that occur when a new party takes control. Still, regardless, taxes will soon change. Unless extended, The Tax Cut and Jobs Act will sunset on December 31, 2025. What does this mean for Prescott’s considerable population of retirees? It means their income could significantly decrease as they pay higher taxes.
We have put together a roadmap specifically for retirees in Prescott. These are folks who want to prepare for the tax changes that are coming on the horizon. In the upcoming webinars, we’ll discuss specific steps to help reduce the impact of tax policy on your retirement.
Several risks and opportunities present themselves during wild swings in the market. When market volatility is greatest, you tend to see experienced investors making moves that set them up for a more profitable portfolio. In contrast, you see inexperienced investors panicking and selling at the bottom of the market. In our upcoming webinar, we will take a look at some of the reasons for the current market volatility as well as a set of best practices to keep your money safe and growing even in volatile markets.
Prescott residents are in a unique situation when it comes to retirement assets. While the real estate market across the country sees wild swings, our real estate market is enjoying gains due to all of the out-of-state move-ins from larger population centers. Home equity can play a huge role in your overall comfort in retirement if you know how to make it work for you.
For more information about how this upcoming election can impact your retirement, please join us for one of our upcoming seminars. We will make a complex topic during an uncertain time as entertaining and informative as possible. Click the button below to register today.