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We dont know how violent the weather will be or whether it will pass in a light drizzle.
Its tempting for retirees to make big money moves in anticipation of the inauguration of a new president.
But hasty decisions can do more harm than good.
Here are some things retirees shouldntdo with their money before Trump takes office.
Portfolios should be developed with an understanding of expected potential volatility.
In addition, Schiffman said not sticking with the portfolio allocation is a violation of the investment strategy.
Withdrawing large sums of money and holding cash may not be the best bet.
While cash provides safety, it may not keep up with inflation.
Abalanced, diversified portfoliois crucial for maintaining long-term purchasing power, Stroup said.
Take On Big Debt
Dont take on big debt during times of economic certainty, Hishmeh said.
My parents took control of their expenses as they neared retirement.
Its a lesson worth learning.
It isnt the laws for the next four, eight or 10 years that should concern you the most.
What matters is what the law is when you die.
Quinn said political power and policies often change.
We have a very liberal gifting and estate tax environment today, particularly for wealthy people, Quinn said.
You do estate planning for life.
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