President Trump Causes Retirement Anxiety to Rise

Time to run around with their hair on fire?

Time to run around with their hair on fire?

Uncertainty associated with policy changes under President Trump is fueling angst and anxiety among advisors, especially as it relates to their clients’ retirement.

When asked by The American College of Financial Services in early January if they were more concerned about their clients’ retirement security post-election, more than half reported that the election results have increased their concerns, while 23 percent felt the election has had no impact. Fully 24 percent believed the election improved the outlook for their clients’ retirement security.

Advisors report that clients’ leading concerns are focused on potential post-election changes to health care and Social Security.

“Coming out of a highly contested election season, it is no surprise that many retirees feel a bit wary about their retirement security,” David Littell, retirement income program co-director at The American College, said in a statement. “…investors are feeling worried about what they cannot foresee. We found that advisors are keenly aware of their clients’ moods and recognize that there are no ‘one size fits all’ retirement plans in the face of an unpredictable future.”

Record Market Highs

In response to all-time high markets after the election, over half of advisors polled, 53 percent, have told their clients to stay the course.

Potential Market Volatility

Many advisors believe we’re heading for greater market volatility this year:

“Regardless of what is ahead during this new administration, the bottom line is clear,” Littell continued. “Advisors need to take this opportunity to sit down, talk with their clients about their current retirement plan and reassure them they are on the right path for retirement.”

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