Ask Terry Questions election fear

election fear

By Terry Savage on November 20, 2016 | Taxes & Economy

I have heard some "experts" say that if Trump is elected, most of the 401k money will be gone due to the market fall. Is this possible and if so, when should I take my money out? I'm 65 so no penalties,and should i take it out now, or will there be time after the election?

Terry Says

Sorry, this question got buried in a huge pile after the election.  By now, you know the answer:  the market LIKES the (as yet totally undocumented) Trump economic plan of tax cuts, infrastructure spending, and regulatory cutbacks.  We will see in the future how well it likes the idea of trade protectionism!  But I would have told you not to act rashly in anticipation of -- or as a result of -- an event.  Stick with your long-term plan.  America will survive and prosper!  It always has, and its unwise to bet against such a long-term trend!



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