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For instance, elections usually tend to trigger market volatility, which cannegatively affect retirement funds.
Weighing these factors may influence the decision to delay retirement for a more advantageous situation post-election, added Friedlich.
If retirees depend on fixed incomes, rising prices could diminish their purchasing power, he added.
Waiting until after the election might provide clarity on whether tariffs will continue to influence economic stability.
Social Security Implications
One of Trumps tax proposals includes eliminating federal taxes on Social Security benefits.
As Ronan argued, those payments may be increased if the plan were to become law.
According to the Tax Policy Center, removing them would lower households taxes by an average of $550.
This is particularly relevant for retirees whose portfolios rely on stock market performance, he said.
Those nearing retirement may want to wait and see how the election impacts their investments before making the leap.
Having a solid, sustainable retirement strategy is more important than timing based on political shifts, he added.
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