Navigating Financial Concerns in an Election Year
As we approach another presidential election this fall, it’s crucial to address the financial uncertainties that often accompany such events. At Johnson Brunetti, we understand that the political landscape can create concerns for many, especially those nearing or in retirement. Joel Johnson, CFP® joins Better Money on WFSB with Kara Sundlun to share insights and strategies to help you navigate these challenges effectively.
The State of Social Security
One of the most pressing concerns during election years is the future of Social Security. Rest assured, no politician wants to risk cutting Social Security benefits. It’s a significant voting issue, especially for those over 65, who tend to vote in higher numbers. While reform measures may be necessary down the line, for now, those promises made regarding Social Security are likely to remain intact. If you’re approaching retirement age, you can feel more confident about your benefits.
Market Stability Amid Uncertainty
Financial markets thrive on predictability and stability. Interestingly, a divided government—where one party controls Congress and another holds the presidency—can lead to less drastic changes in policy. This political stalemate typically helps maintain a stable market environment, which can be beneficial for investors. While uncertainty can create volatility, a divided government often results in a balanced approach to legislation that can promote market stability.
Potential Changes in Tax Policies
Tax policy is another area to watch. With the Trump tax cuts set to sunset in 2026, we can expect some shifts, regardless of the election outcome. It’s essential to consider your tax strategy now. Taking advantage of the current low tax rates can position you favorably, especially when planning for retirement.
Advising for the Future
At Johnson Brunetti, we encourage our clients to assess their retirement savings and consider how current tax rates will impact their long-term financial health. Sometimes, it might be wise to pay more in taxes now to lessen the burden in the future. Our goal is to help you reduce your lifetime income taxes, ensuring you have the resources you need throughout your retirement.
Information presented here is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.
Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.
Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.
Related Resources
-
Podcast Episode 425: 5 Financial Lessons from Stevie Nicks
Prefer to watch? Click here to watch and listen on YouTube. What can Stevie Nicks, legendary singer-songwriter and member of Fleetwood Mac, possibly teach you about retirement planning? As it t… -
How Much Can I Contribute to an IRA?
Are you contributing the maximum amount to your individual retirement account, or IRA? Many people aren’t taking full advantage of their contribution limits. That could mean missing out on valuabl… -
What Should I Do If I Win the Lottery?
Winning the lottery, never working again, and having all your hopes and desires come true — for most people, that’s only a dream. But in the happenstance that you do hit the jackpot, what should y… -
4-Point Retirement Income Planning Checklist
Income is everything in retirement, and that realization can feel overwhelming. Even if you feel prepared, it’s still important to ensure you’re getting the most out of your money. By taking small… -
Who Should Consider a Roth Conversion?
Converting pre-tax funds into a Roth account can potentially reduce your tax burden in retirement. Roth IRAs offer unique benefits that differ from traditional tax-deferred accounts. While you … -
Healthcare in Retirement: Frequently Asked Questions
As you get closer to your retirement years, healthcare becomes a more pressing financial concern. How will you pay for coverage no longer provided by your employer? Which health insurance plan bes… -
What Are Essential Financial Steps for the Last Quarter?
If you can believe it, we’re entering the last quarter of the year. Time sure did fly by, but before 2025 officially ends, there are still a few financial matters to address. In this week’s Mon… -
Podcast Episode 421: Can You Really Pay Less Taxes on Social Security?
Prefer to watch? Click here to watch and listen on YouTube. Social Security is one of the most important sources of income for many retirees. But it is also one of the most misunderstood around… -
What Is the Best Age to Claim Social Security?
It can be hard not to play the comparison game when making major decisions in retirement. One of which is when to collect Social Security benefits. Your friend may have claimed early at age 62, bu… -
3 Habits of Successful Retirees
We’re creatures of habit, and our financial behaviors are no exception. Specifically in retirement, your financial decisions can either hold you back or help you achieve long-term success. So, whi…
-
Laura H.Laura H. is a client of Johnson Brunetti and received no compensation for their statement.
“Your corporate values and mission have stayed constant which we’d say is the primary reason we are so satisfied. We believe that mission should never change.”
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
-
John L.John L. is a client of Johnson Brunetti and received no compensation for his statement.
“We are extremely please with J&B. Referring back to our one word, Family, we trust your firm, advisors, and services as we would a member of the Family. Thank you for everything!”
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
-
Joe D.Joe D. is a client of Johnson Brunetti and received no compensation for his statement.
“Your model is working well, continue to keep your focus on your clients. The podcasts are an effective way of communicating information and real life stories. Your business is supporting your clients’ many different real life stories.”
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
-
Jackie L.Jackie L. is a client of Johnson Brunetti and received no compensation for her statement.
“I love how everyone in the company makes us feel. Like we are one big happy family. I wouldn’t change anything! “
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
-
Christine Q.Christine Q. is a client of Johnson Brunetti and received no compensation for her statement.
“Your services are exemplary and greatly appreciated by my husband and myself to live out our retirement years feeling safe and secure. Thank you!”
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
-
Barbara S.Barbara S. is a client of Johnson Brunetti and received no compensation for her statement.
“We are very happy with Johnson Brunetti. It has really taken a load off our shoulders. Thank you.”
Testimonials received in response to Johnson Brunetti survey conducted in 2024. Please click here for a description of the survey and the overall results.
