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Chad Griffith

The outcome of the presidential election was certainly a surprise to pollsters. For retirement investors, whichever candidate they voted for, it’s a wake-up call. Some changes that the Trump administration may make are likely to put more financial pressure on many retirement savers and retirees. Granted, we have yet to see many specific proposals put forward by President-elect Donald Trump. But an attempt to repeal or cut back Obamacare seems to be at the top of the list. Early retirees should take note, since cutbacks could make it more costly or difficult to purchase individual coverage in the years before Medicare kicks in at age 65. Protections for retirement savers may weaken. On the plus side, there may be tax cuts in the offing. Whether you are elated or dismayed about the coming Trump administration, the best strategy now is to stay the course and avoid making changes in your 401(k) based on the election. And save more if you can. Given our poor powers of prediction, whether about the market or elections, it always helps to have extra cash on hand for the unexpected.

Best wishes,


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“There is a crack, a crack in everything. That's how the light gets in.”

--Singer-songwriter Leonard Cohen