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My Google calendar has a countdown!
Whoever wins might change when I can get it or how much Ill get.
Of course, social security is important for most retirees.
Any changes to it could affect many peoples plans especially retirees.
Medicare Costs
I worry about paying for healthcare.
I hope the next president will keep Medicare costs low for retirees, Jane shared.
Healthcare is one of the biggest expenses for older people.
Changes to Medicare could make a big difference in how much money retirees have to spend.
Taxes
Ive saved money in my 401(k) for years, Jane said.
The taxes Ill pay when I take the money out might differ depending on whos president.
Tax rates can change how much of their savings retirees get to keep.
Its smart to think about this ahead of time.
Its unclear to me right now how these things will be affected, but Im watching it.
Many older people spend a lot on medicine.
Lower drug prices could help retirees save money.
While presidents dont control the stock market directly, their policiescaninfluence it.
This matters for people who have their savings invested especially if theyre looking to dip into that money soon.
Inflation
As anyone with two eyes can see, inflation has gotten pretty bad, said Jane.
Im watching this story like a hawk.
When prices go up but your income doesnt, it can be hard to make ends meet.
This is a real concern for retirees.
Estate Taxes
I want to leave money for my kids, said Jane.
The rules about taxes on inheritances might change after the election.
Estate planning can be complicated.
Many retirees are paying attention to possible changes in the rules.
Retirement Account Rules
The government sometimes changes the rules for retirement accounts.
I want to be ready if I need to change how I save, said Jane.
Its stressful but I guess its a part of life!
Jobs for Older Workers
I might want to work part-time after I retire, Jane shared.
The new presidents policies could affect job opportunities for older people.
Like many retirees, Jane may want to keep working part-time.
Shes worried about the incoming presidents stance on work and how it might affect her down the line.
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