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In his first term, Trump completely redefined economic policy with corporate tax cuts and an America First plan.
Retirees should find themselves ready for sudden policy changes which could immediately reshape their finances.
That might include changes to negotiations for drug prices and changes to the Medicare Advantage plan regulations.
And that may change the way retirees manage their savings and perhaps the long-term financial plans they pursue.
These market movements may necessitate that retirees quickly reconsider their investment plans.
It might be worth considering taking defensive positions, Lokenauth said, given potential market reactions.
Lower contributions to immigrant workers Social Security may meaningfully help reduce the long-term solvency of this program.
It could be during the largest domestic deportation operation in American history.
This would put more strain on the Social Security system and potentially delay benefits for living and up-to-date retirees.
Retirees should consider how the long-term implications of their retirement planning will play out with these policies.
Tax Policy Shifts
Retiree taxes could be affected by quick changes through executive action.
Capital gains tax treatment may change and retirement income may be affected by tax bracket adjustments.
These changes could significantly affect the planning of retirees taxes and how the overall financial strategy is conducted.
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