78% of Americans are anxious about their finances within the context of this November’s presidential election, according to a new study from D.A. Davidson, with 60% expecting inflation to rise as a result. D.A. Davidson Vice Chairman of Wealth Management Andrew Crowell joins Wealth! to discuss how the election may impact your finances, particularly under elevated inflation and higher for longer interest rates.
"We have an unusual year this year with the presidential election in that it’s the immediate president and the immediate past president who are the two front-running candidates. So investors and Americans have some insight as to the policy distinctions between both administrations, and I think with the tight election polling so far, investors are just uncertain about what the outcome is going to be," Crowell explains.
He adds that voters are placing emphasis on both administrations’ spending, explaining that "investors and Americans as they go to the polling place this fall, they’re really going to have to take a look at their long-term future and which candidate they believe is going to best help them get to their own financial goals through their policy actions." He notes that some investors are making estate planning changes in order to take advantage of current benefits.
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