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The unique detail about Trumps upcoming presidency is that people already have a good idea of what to expect.
These are some of the money moves to avoid until Trump takes office.
He believes taking out amortgage or refinancingright before Trump gets back into the White House is a big mistake.
Avoid locking in fixed-rate mortgages or refinancing now…Trumps policies could lower interest rates.
Trump clashed with Jerome Powell during his first term, requesting lower interest rates.
Trump has made similar demands leading up to his second presidency.
The company offers services for budgeting, cash flow management, insurance reviews, tax strategies and retirement planning.
Its important to avoid making investment decisions solely based oncampaign proposed policies, he said.
Markets often experience volatility during political transitions.
Maintaining a long-term perspective is typically wiser than reacting to short-term uncertainty.
The S&P 500 has maintained an annualized 10.57% return over the past 100 years.
Those years have included wars, economic recessions, hyperinflation, many political leaders and other variables.
Ferrari also mentioned that the middle class may want to hold off on investments leading up to Trumps inauguration.
Excessive Spending
Ferrari suggested good investment opportunities may show up shortly after Trumps inauguration.
Dont overspend on non-essentials, he noted.
Keep cash ready forpotential tax cutsor energy-related investment opportunities.
Its always good to keep non-essentials as low as you’re able to.
Thats a good money habit in general, but Trumps policies seem promising.
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