The Wrong Money Question to Ask After Trump's Election
If you're wondering what moves to make with a new president moving into the White House, you're being dangerously shortsighted. Here's what to do instead.


Throughout 2024, talk of the election dominated public and private discourse. In most election years, once the country casts its ballots, politics fades into the background of our collective consciousness. That hasn’t happened this time around. The re-election of Donald Trump to the presidency was polarizing — people on both sides of the political fence still have politics at the forefront of their minds.
It’s no different in financial planning circles. Clients regularly ask their advisers, “What should I do with my money now that Trump is going to be president again?” It’s an understandable question, especially given the president-elect’s stated intention to implement radically different economic policies from his predecessor. However, it’s also a shortsighted question.
You need to focus way beyond just the next four years
Americans choose a president every four years, and many people view finance in the same four-year terms. The election of a new president inevitably causes retirement savers to assume they need to make changes in order to react to the new administration’s economic impacts. But for financial planners, four years represents very short-term planning.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
When helping my clients develop a retirement strategy, I plan for the next 30 years at minimum. It’s possible to have seven different presidents in that time! Predicting presidential policies three decades in the future is impossible. That’s why it’s better to plan for what we can reasonably predict is likely regardless of who sits in the Oval Office.
Take a long-term look at taxes
One such prediction is taxes. Much has been written on Trump’s tax plans. But it helps to take a wider view. While the Republican sweep of the presidency and both houses of Congress means it’s much less likely the Tax Cuts and Jobs Act will sunset at the end of 2025 as most assumed it would, it’s nonetheless seemingly inevitable that at some point, taxes will increase.
Planning for that eventuality is therefore crucial: Is it better to defer taxes via 401(k)s and IRAs today, risking having to pay higher tax rates in the future, or should you consider converting tax-deferred savings vehicles to their Roth equivalents? The tax bill will be due today, but you’ll avoid potentially higher tax rates in the future.
How about inflation?
Politics distracts from another area of importance as well: Everyone’s still talking about the election, but few are talking about inflation. Some economists worry that Trump’s plans to impose heavy tariffs on imported goods will cause inflation to rise. That’s concerning but, as we recently saw, inflation is a possibility regardless of tariffs. Only planning for inflation when you think a president is about to cause it is riskier than planning for inflation as a matter of course.
It’s a safe assumption that prices will be higher in 30 years than they are today. This means your retirement savings must hedge against inflation; low-interest savings accounts lose value as costs rise, whereas investments with a rate of return higher than inflation gain value.
The bottom line
It’s tempting to focus on immediate and short-term events when considering how to address your finances, but for successful retirement planning, a longer view is necessary. Your financial adviser can help you develop a financial plan designed to weather unpredictable economic events far in the future that could otherwise jeopardize your retirement.
Related Content
- Worried Your Heirs Will Blow Their Inheritance? Make a Plan
- Trump's Stances on Social Security and Medicare
- 10 Predictions for 2025 from The Kiplinger Letter
- Three Possible Tax Impacts for Retirees Under Trump
- How to Fight Inflation's Hidden Threat to Your Savings
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

George Pikounis is an Investment Adviser Representative for Burns Estate Planning in Tallahassee, Fla. With over a decade of experience in the financial services industry, he uses his background to help clients understand how each financial decision impacts their overall portfolio. As a Certified Estate Planner, George is particularly passionate about guiding his clients in creating and preserving generational wealth.
-
QUIZ: Test Your Retirement IQ
Quiz Are you smarter than…everyone else? Test your retirement smarts with this quiz.
-
Where There's a Will, There's a Way Your Assets Will Be Distributed as You Wish
Your will is the backbone of a strong, adaptable estate plan that ensures what you leave behind goes to your selected beneficiaries. Without a will, state laws determine who gets your assets.
-
Where There's a Will, There's a Way Your Assets Will Be Distributed as You Wish
Your will is the backbone of a strong, adaptable estate plan that ensures what you leave behind goes to your selected beneficiaries. Without a will, state laws determine who gets your assets.
-
I'm a Financial Adviser: This Is What You're Really Losing if You Cut Back on Your 401(k) Contributions
Missing out on the benefits of the employer match and compounding growth could force you to work longer and lower your standard of living in retirement. Here are some alternative options.
-
S&P 500 Hits New Highs as Rally Resumes: Stock Market Today
Tech stocks were the biggest gainers on Wall Street today, with Nvidia and Dell making notable moves.
-
The Shutdown Standoff Is Heading for Its Next Big Test
A key mid-October deadline could intensify the shutdown fight in Washington, and the fallout could soon hit workers and your wallet.
-
Should You Buy Gold as It Tops $4,000? Here's What the Experts Say
Rate cuts, a weak dollar and macro uncertainty have helped create a "perfect storm" for gold this year. Should investors add exposure or is it too late to buy?
-
The 'Permission to Spend' Rules of Retirement Spending
Here’s how to spend guilt-free when you are in retirement.
-
Major Insurers Scale Back Medicare Advantage and Part D Plans for 2026
Beneficiaries enrolled in Medicare Advantage and Part D prescription drug plans might be losing their plan as UnitedHealthcare, Humana, and Aetna (CVS Health) scale back offerings for 2026.
-
I Want to Retire, but I Have to Keep Working so My Adult Kids Have Insurance
It's a tricky period when your adult child is under 26 but needs health insurance. We ask financial experts for advice.