Politics and Finance
As we all wake up and digest the election results, we should all take the time to breathe. Many of us will be impacted by the results (positively or negatively), but we have a bit of time to plan before we will see any real changes.
Before the election, my wife and I planned moving closer to family. She works in public health, much of which is federally funded, and public health departments/funding are likely to be slashed. That means her job may be at risk. It also means we probably need to pause on moving, wait to see what happens to federal funds, and then see if she needs to find a new job, with a new location.
I’ll admit that we didn’t have a true plan for what-if, but by 8AM today, we were able to decide to pause what we had planned and take a breath. Who knows? She may not truly be impacted, and we may be overreacting, but we have reached financial independence and have the ability to adjust whenever needed, and that is true peace of mind.
How you should look at things: (Questions to ask yourself)
- Will your personal safety be impacted?
- Will your job be impacted?
- Do you need (or want) to move? In the US or outside?
- How will your taxes be impacted?
- How will your investments be impacted?
- How will your healthcare be impacted?
- How will your student loans be impacted?
- How will your loved ones and friends be impacted?
Any election has an impact. Often, it isn’t a huge impact on the market but on other things in our lives. Take the time between now and January to reassess your situation and adjust. Hope for the best, plan for the worst.
If you want help, reach out. We don’t have the political answers, but we can help you work through your own life and financial questions. Our Childfree Wealth Checkup is designed to look at your finances through a Childfree lens and is a great place to start answering the questions above. We do have limited space, but are working on building capacity to help as many as we can.
Give your family, neighbors, and friends a hug. Some will be happy, some will be sad, but we can all use a hug and a bit more kindness.