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So how did his economic policies actually impact real Americans on Main Street?
GOBankingrates talked with both financial experts and laypeople about what theyexperienced under Trumps first presidency.
The TCJA lowered the tax rates for our bracket, which we couldnt be happier about.
Also, the standard deduction increased significantly under the TCJA.
Trigub, too, pointed to how these business-friendly changes boosted the economy.
These policies contributed to stronger GDP growth and a better economy, creating more jobs.
This combination resulted in better bonuses for both my husband and me atour respective jobs.
While that doesnt set any records, it still marks healthy stock market growth.
Although it cant be fully attributed to Trump, investors enjoyed the success either way.
The stock market was bullish, andour Wall Street portfoliokept building up on its own, Trigub said.
This impacted direct investments, as well as our 401(k) and IRA balances.
Cheaper Mortgages
Mortgage rates were a lot more favorable under President Trump, Trigub said.
That made it easier forreal estate purchasesto pencil out.
During Trumps tenure in office, 30-year fixed mortgage rates ranged between 2.6% to 4.9%.
They largely hovered around 4% through much of the pre-COVID-19 portion of his presidency.
Again, this isnt strictly his doing, but it did happen during his time in office.
Over the last few years, inflation has driven the Federal Reserve to raise interest rates skyward.
They hit a President Joe Biden-era peak of 8.45% on Oct. 17, 2023.
I worked with Trump years ago in thecommercial real estate space.
These zones are designated areas in cities that needed revitalization, encouraging investors to put money into these areas.
When my wife and I were just starting out in real estate, we had limited funds.
This allowed us to keep much-needed cash to invest in the future.
Because of the reduced down payment, we also took advantage ofvarious tax breaksprovided by the Opportunity Zone Act.
Over the course of the loan, this property is expected to gain around $300,000 in equity!
And we only needed to bring $9,000 to the table.
You dont need to actively buy properties to take advantage of Opportunity Zones.
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