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What this means for you and yourretirement savingsis still unknown.
But one things for sure: Theres bound to be some changes on the horizon.
These are their predictions for whata Trump win could mean for your retirement savings.
A Trump Win Could Lead To Greater Stock Market Volatility
The stock market has always been volatile.
Trump repeatedly promises to have more control over the Federal Reserve as president.
This could seriously destabilize U.S. exchange rates, he said.
Trade policies could hurt operations, so there are no guarantees of how the market would react.
Theres something to be said about learning from history as well.
I also wanted to include a relevant anecdote about the 2016 election.
On the night of the election, the Dow was down 5% on the surprising news Clinton lost.
Before the market opened, my office called an emergency meeting at 8:30 a.m. We discussed how to respond to panicked investors about the immediate hit to the market.
To everyones surprise, the markets were up.
Investors thought the election as a whole was a net positive.
His advice to those whove invested in the stock market is to do so for the long term.
It was also designed to lower the tax burden on personal income taxes.
The TCJA … could remain in place.
If it does, Klesinger predicts it will impact how people choose to fund their retirement accounts.
Roth IRAs, meanwhile, could become less attractive if tax rates increase in the future.
Depending on your situation and the results of the presidential election, you might need to make some adjustments.
Changes in social safety nets like Social Security could also be on the table, Klesinger said.
One particular deregulatory effort was estimated to save American households around $3,100 a year.
If hes reelected, he could continue with these deregulatory efforts.
This could be a double-edged sword, according to Klesinger.
Deregulation, he said, tends to push stock market valuations higher.
This could be beneficial for those holding 401(k)s and other retirement accounts invested in equities.
Each of these could be either positive or negative for retirees.
But even if Joe Biden wins, theres bound to be some changes coming.
If Biden wins, we can expect big changes to social programs that ripple through investments.
Bidens big policies areall inflationary measures, said Persichitte.
On the plus side, those types of stimulus tend to prop up the stock market.
If inflation is hot, dont get left behind.
Consider risks before investing because the stock market is considered a higher risk than a bank account.
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