Economic changes are imminent with Donald Trump’s presidency, influencing taxes, healthcare, and housing (source: GOBankingRates). Baby boomers need to adjust their financial strategies to bolster security and address long-term healthcare. Stuart Schiffman of Compound Wealth Advisors advises keeping enough cash to cover living expenses, preventing hasty stock sales during market dips. Christopher Stroup from Silicon Beach Planning highlights the importance of understanding changing government healthcare benefits. He suggests using Health Savings Accounts (HSAs) for future healthcare needs. Additionally, investing in fixed indexed annuities provides secure, lifetime income, says Tom Buckingham of Nassau Financial Group. Considering refinancing can reduce mortgage payments.
Question: How do you plan to adjust your financial strategy in response to potential economic changes? Share your thoughts!
