Vice President Kamala Harris, left, and Republican presidential candidate former President Donald Trump . Photo: Charles Rex Arbogast/AP
As the U.S. presidential election approaches, Americans are apprehensive about how whoever wins – Former President Donald Trump or Vice President Kamala Harris – may affect their personal finances and their retirement plans in particular, according to new research from Wealth Enhancement.
About 80% of Americans are bracing for the impact of political outcomes on their retirement plans, including 73% who are already retired. Americans' apprehensions span from immediate economic concerns—like inflation and the cost of goods and services (49%) or how much they will pay in taxes (39%)—to longer-term worries about the impact of the election on their retirement plan (80%) These worries include whether they will be able to rely on government programs like Social Security or Medicare (31%), and how the election might affect the performance of their investment portfolio (23%).
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