How Will the 2024 Election Impact Your Retirement?

Investors should expect volatility but also try not to overreact to news. To prepare, focus now on tax minimization, protecting your portfolio and more.

An older couple have a serious talk while sitting on the sofa together.
(Image credit: Getty Images)

In times of great change, it is only natural for people to wonder and worry. Without perspective, it morphs into wondering and worrisome-driven decisions or indecision. A general election surfaces this quandary every four years, but even more so this year as we head into what appears to be the most contentious election in modern history.

Even still, today’s candidates aren’t dueling like Alexander Hamilton and Aaron Burr did in 1804. Most articles and commentaries about the financial impact of an election year are focused on investment returns. Predictions are being made based on history — the months and quarters that are most likely to be positive and negative, as well as the likelihood of a positive market. Some are showing likely upsides and downsides based on which party is elected in each branch of government.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Barry H. Spencer, Registered Investment Adviser
Co-founder, Wealth With No Regrets

Barry H. Spencer ( is a financial educator, author, speaker, industry thought leader, financial advisor, retirement planner and wealth manager who has appeared in Forbes, Kiplinger and other publications. He has also appeared on affiliates of NBC, ABC and CBS and was interviewed by Kevin Harrington, an original panelist on ABC’s hit show “Shark Tank.” Spencer’s latest books include “Build Wealth Like a Shark,” “The Secret of Wealth With No Regrets” and “Retire Abundantly.”