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How to Prepare Your Financial Plan for the Trump Presidency

How to Prepare Your Financial Plan for the Trump Presidency

January 29, 2017

As of inauguration day on January 20th, Donald Trump is now our president. This election season was a wild ride, but now the election dust has started to settle. Experts have begun to  analyze and dissect Trump’s campaign promises and proposed measures to predict how his leadership will affect various aspects of our nation. More than anything else, people are curious, and probably a bit worried, about how a Trump presidency will impact their personal finances.

While the political and economic arenas are always unpredictable, here are some insights on what to expect and some strategies to help you strengthen and protect your portfolio in the midst of change and uncertainty.

Stay the Course

Market uncertainty is normal and expected in the average economic cycle, but even more so when accompanied by unprecedented political events. We witnessed how quickly the markets bounced back once Trump had been declared the winner of the 2016 presidential race, from a 700 point plummet to record highs, all in one week. The recent market fluctuations are a reminder that when it comes to your financial plan, it’s wise to stay focused on the long-term. Short-term turmoil will always be upsetting, but having the right perspective will help you ignore the noise and continue to build for a successful retirement.

To set yourself up for success, follow these tested financial strategies:


Don’t put all your eggs in one basket. Speak to a trusted financial expert to see where your portfolio could use some diversification. For example, don’t rely solely on stocks, look globally, and even look into real estate as an alternative option.

While the accounts we manage for you are well diversified, now may be a good time to review your outside accounts, including 401(k)s and other assets. It’s an ideal time to assess risk and determine if any action is warranted.

Know Your Risk Tolerance

Do you know your personal risk level? Consider all aspects of your life, such as years from retirement, income, debt, and even personality, and apply your risk number to your investment strategy. Don’t just assume you know what level of risk you are comfortable with.


Many people underestimate the importance of rebalancing their portfolio. Rebalancing is like a regular health check up. It might not turn up anything, but it could result in small changes that will make a powerful impact down the road. Diversification is not enough to keep your portfolio safe. When you regularly rebalance your portfolio, you ensure that your investments match your risk level and that you haven’t become too reliant on any one asset category.

Be Independent

Social Security is a benefit that may make a significant difference in your retirement income, but don’t rely on it too heavily. In the past, Trump has given his support for the program, but with his promises to abolish Obamacare and cut taxes, the future of Social Security and Medicare is far from certain. Maximize your IRA and 401(k) contributions, create a nest egg, and feel secure that your retirement is taken care of. Anything extra is just a bonus.

Ask for Help

If you are unsure about where you stand financially and feel less than confident in your retirement strategy, it helps to have someone who can help you remember to see the forest through the trees. An experienced financial professional can help you evaluate the markets and make decisions based on knowledge and understanding instead of media hype and emotions.

I Am Here For You

While it’s normal to become concerned about finances when unpredictable events occur, remember that the White House doesn’t control the markets. There are so many other variables involved that play a vital role in market success or failure, such as international events, oil prices, and corporate earnings.

I believe that the election outcome will not interfere with your ability to achieve your long-term financial goals and that the best thing that you can do is to take control of your financial situation. If you think your portfolio needs a second look or is due for some updates, please

contact me today by calling 909-981-1720. Let me help you take control of your finances!

About Philip

Philip A. Board MSFS, CFS, is a retirement planning specialist and the founder of 1on1financial, an independent comprehensive investment firm serving individuals and businesses near Upland, California. Through educational workshops and a non-sales environment, 1on1financial specializes in working with employees of Southern California Edison, UPS, Esri and Verizon.