The economy is doing well. Unemployment is low. New jobs are appearing. Inflation is down considerably. The stock market continues to do well. Medicare, Social Security, and the ACA are stable. All Trump has to do is come in and screw it all up. And he will.
@@tomj528 AND TRUMP WAS GOING TO DO SO MUCH THE FIRST TIME BUT DID NOT PASS ONE BILL IN 4 YEARS. HE WILL DO THE SAME THIS TIME. HE IS MORE INTERESTED IN GETTING EVEN WITH ALL THE POLITICIANS THAT WENT AGAINST HIM.. OVER 100 SUPPORTED KAMALA. HE WANTS,TO TRASH SOCSEC. MEDICARE, AFFORDABLE,CARE INSURANCE, PUT HIGH TARIFFS ON IMPORTS. HE STILL THINKS THE EXPORTER PAYS THE TARIFF YET NO ONE IS SMART ENOUGH TO EXPLAIN THEY DON'T. HIS SUPPORTERS BELIEVED ALL HIS LIES AND THINK HE WILL FIX THE BROKEN THINGS.
No it won’t. Do you even work for a company that experiences these tariffs. I do. The tariffs simply can’t be passed on to the next buyer. As a distribution company, we have a choice to continue to import or source locally. We also have a choice to pass on costs to the retailer. The retailer has a choice too to pass costs on to the consumer. The fear for both is that the increased prices will force the consumers to stop buying or buying less frequently. But wait. If corporate tax cuts are introduced and why not since tariff revenues increased then companies don’t need to pass on the costs to the consumers. This guy nor you is spot on. If what I’m saying is wrong then why did the stock market jump up as it did. Many have this figured out. You certainly should try to better understand.
@@f430ferrari5 random dude on the Internet, versus every textbook, nobel prize winning economist, and history on what happened to the washing machine industry during the trump 1st term.
@@f430ferrari5 the stock market hit records 7 times in October, 40 times in 2024, and people still thought the economy was poor. When Trump lost his last trade war we had to literally bail out US farmers, and Harley Davidson almost moved to Thailand. Right now, warehouse workers are losing Christmas bonuses as retailers stock up on goods. Tim Cook at Apple expects to see price increases. A PlayStation is about to jump to 1000$. And that doesn't even touch on the food we import. If you don't understand this, you are living in a fantasy world.
@@toypianos469 and the only reason why warehouse workers are losing out on Christmas bonuses is because of Biden/Harris/Democrats. Soft on crime has caused insurance premiums to skyrocket for all companies. Same for covering the actual costs of theft and vandalism. Another reason Trump elected.
When Elon Musk says the federal budget must be cut by $2T and 70% of that budget is Social Security, Medicare, or Defense/Homeland Security, it means the richest man in the world is going to screw over those in retirement. Let that sink in.
Elon will probably cut giving many hundreds of billions to Ukraine and illegal aliens. He might cut IRS jobs, too. There's a lot of fat to cut that isn't entitlements.
@ money is an abstraction based on trust. Trust in government and banks along with trust in the individual integrity of those who use money in their lives. With less use of money in hand and just on a card it is more of an abstraction than ever. The upcoming administration has said devaluation of the dollar wouldn’t be so bad. The question that needs to be asked is why. Bitcoin anyone? Debt default?
Agreed. In only four years, what cost $4 now costs $5. Did you get a salary raise of 25%? Did your portfolio go up 25% since then? Plenty of criticisms against Trump, but I’m seeing proof to not trust the Dems.
We have an education problem In this country. People goggling “how do tariffs work” “did Biden resign” and “can I change my vote” AFTER the election, is concerning.
You can’t change your vote. Trump told us all what he was going to do. He showed us who he was. Certain people just didn’t believe him. When someone shows you who they are, believe them. Maya Angelo
So the people who are telling you that taxing corps doest affect your budget, eliminating 6 figure energy jobs for non existent 35K govt subsidized jobs doesnt affect the economy, disallowing pipelines so we cant sell energy doesnt affect the economy, increasing the size of govt doesnt affect the economy, calling a 3% raise in inflation a downturn because it only added 3% to the 26% that happened under their watch, who were the ones who taxed SS, gave emergency funds and SS funds to whoever they wanted to, oh, and BTW instituted tariffs themselves, are the ones who are the ones to be instructing in economics... I'll pass thanks
@here’s where understanding rhetorical fallacies comes into play. “Irrelevant Conclusion”: Just because the Dems screwed some things up does not mean that Trump isn’t a danger to democracy.
@@zoundstreetop Yet because Dems continue to screw up the same things then double down and more of the same, they are the true danger to the republic. Do not confuse a danger to the democrat party with a danger to democracy. I was a democrat a long time ago. They left the working class behind in the 1990's. We had two 4 year terms to compare philosophy's, In one we were thriving, in the other we were not. Trump isnt the answer, but the last 4 years showed that Democrats are.
I find it laughable . Lets me know us Libs won't be alone in our regretting their decision. Wonder how they'll take to learning after 200 years the American Experiment has failed and it will take decades to get it back. And it will take that long because the morons will continue to blame Democrats and buy into conspiracy theories rather than accept the consequences of their own ignorant, bad decisions.
I'm deeply concerned about wealth redistribution to the top 1% who will be subject to lower or no taxes. Corporate taxes are way too low, 21%, to be reduced to 12.5%?! In the 50's through the 90's It was 50% lowering to 40%. This looks a lot like the beginnings of the Great Depression, excessive tariffs, the rich and corporations not paying their fair share, a very high stock market. Record corporate profits and stock buybacks. Enormous wealth disparity and a declining and overtaxed middle class. Cutting of social security taxes will lead to a disastrous funding shortage for Social Security which will run to a balanced level in 2035. In 2036 Social Security can only pay 83% of its committed funds. Social security contributions are limited to $174,900 in 2024. Why is there a limit? Millionaires and Billionaires are only paying on this contribution limit. Amazing!
It amazes me how so many people can support someone who is so full of themselves. “Everything I do and have ever done is better than what anyone else has done. Whoever disagrees with me is a loser” Come on. I think Trumps core values as a human being represent America very well right now
In this vid you don’t touch on what happens to early retirees if (when) the ACA is repealed, and with it insurance companies back to discriminate based on preexisting conditions.
@ If they take the house, the probability goes to at least 75% they will Eliminate. GOP and now Project 2025 make it clear that is their goal. As well as reduce Medicaid and other health care initiatives that will prove very costly to all Americans. It will take 4 senators to block. After Murkowski and Collins, I don’t see two more who will defend it. We shall see.
I have worked in a hospital for over 30 years. Hospitals are closing ie especially the critical access hospitals. Get rid of ACA-major hospitals will close. Quality has decreased and will get worse if ACA is not around
Without ACA, people without insurance will use Emergency Departments as sole access to healthcare. This will overburden ED’s and lead to extremely long waits and hardship
You’re right. I live in a Medicare heavy State - older population, and we serve many mental health patients on Medicaid, too. I work in a hospital, as well…Trump’s gutting of these programs will tank healthcare.
Way too many Hospitals in my town AND too many mini hospitals (aka mini Emergency Rooms that bill like a hospital). Consolidation (reduce waste) is actually good.
Thank you for your content. As far as the lack of B roll ….thank you for that too!! There are many of us who appreciate not having the editors do whatever they do. Frankly, that’s annoying and most of us are able to sit through and have the attention span to not need those gimmicky secondary additions
Except that he got tax cuts for everyone, middle class got a higher percentage tax cut (Read fact, dont watch the View), during his first term. Tariff can raise the cost of everything, they can also provide more jobs. EG the 25% tariff on pickup truck is the reason that Toyota makes trucks in the US making US jobs for US workers and all of the satellite employment also. Not to mention that it is a usable political weapon to use against govts who are causing the price of US made goods to be so high in other countries that we cant sell there (French wine EG). Moreover this is a tad disingenuous from the ideology that thinks taxing corps and billionaires doesnt affect the price of goods, services and lifestyle of middle class.
Tariffs force other countries to become not US investors giving jobs to other counties. SS and Medicare will crush his voter bases since the middle class does really exist. Stock market boom is for buying back stock not investing in companies or people.
Well. I just finished updating my resume today. Start applying for jobs tomorrow. Spent the last 4 to 5 years building up a decent direct to consumer small farm business. Between losing health insurance after they gut the ACA and the inevitable recession that Elon and Trump are discussing manufacturing, I might get a good two years of work and healthcare in before I'm laid off. If I'm lucky. Let this seek in. Trump proposes a 80% to 100% tariff on Mexican goods. If my $1200 refigerator stops working in 2 years, tge same refigerator will probably cost $2000 to replace. Inflation is 2.4%. Unemployment at 4%. Mortgage interest rates in the 6% range. Enjoy these numbers while they last. In two years they are going to seem like a distant dream.
@@JennyLouRN Except for the correction in 2022, the stock market has been in an uptrend ever since Biden took office. Just look at the S&P 500. From the day he took office until mid Oct. 2024, the S&P500 has risen over 50%.
Cutting taxes to stimulate the economy? Haven't we tried "trickle down economics" before and found that it doesn't work? Corporations increased stock buy back and executive compensation with their tax savings windfall.
@@larrybenedict4984 When you cut taxes without spending cuts, you increase the national debt leading to inflation. Exactly what happened during the last Trump administration.
@@larrybenedict4984 It does if you're elderly. Prior to social security over 40% of seniors lived in poverty. Medicare and Medicaid often end up paying for nursing home care. Since most federal taxes go to SS and Medicare and many states have laws on the books that state children can be held responsible for their parents' debt having the two in place seems like a good idea.... Unless you're hip on moving your folks into your house to nurse them when those safety nets are gone.
@@BP-1988 The deficit increase had a lot to do with what was happening with Covid at that time. Actually, contrary to what you’ve said is the fact that tax revenue actually increases when you lower tax rates because the economy picks up and so there is more to tax. Happened during the Reagan tax cuts. And who said spending won’t be cut under Trump? Believe he has specifically said he’s going to cut the Government.
@@foundryfinancialOh that explains all the cheeseball stock b-roll in so many RUclips videos. I agree, yuck, it gets old. But I understand you didn't design the game, but are incentived to play it for improved channel growth. Either way, the most important thing is we appreciate you and all the super sound advice and perspective you provide as such a valuable public service on this channel, so thank you Mr. Lum!
You should be more anxious than ever. Nothing in project 2025, the blueprint for this new administration, is there to expand the middle class! All of it is about making the rich richer; while making the middle class MUTE on the subject! 63% of Americans have not net worth, and therefor no retirement options. They will be working until they die. Expect that to increase to 75% over the next 4 years. Unless you have $2,000,000 + in retirement, you will definitely be struggling to maintain the lifestyle you have become accustomed to!
Thanks for your thoughts. I agree with you. With SS and Medicare already in trouble I hope the elimination of taxes on SS and an increased push to MA plans doesn’t happen. I think the less fortunate among us are in for a rough patch.
I am so afraid of thar MA push. You have people in Florida, Calif, and a couple of othe areas that have wonderful MA plans 4000 in dental, 1500 for glasses, 2000 for hearing aids, no copay to see any doctor in the network, 150 part b giveback, 400 a quater for OTC and healthy foods, CT and MRI are 100 or less, It is crazy. Meanwhile in my state we have 2 plans leaving because they don't make enough money off of us, any dr other than PCP is 35-50 a visit, 250 a day copay if you are put in the hospital for the first 5 days, CTs and MRIS and other such tests are 250. Will they take from them to make it equal for all? oh wait, OM and a medigap plan...
Good stuff. Some thoughts: 1. Tariffs, if enacted as Trump has said (and it’s always iffy that he does what he says) will affect us sooner than other action, such as tax cuts. Inflation would be drastic pretty quickly. If he weasels out with smaller tariffs, less inflation. 2. Tax cuts would be longer in coming and would have negligible impact on most people. In the last tax cut, I barely saw personal impact. But the impact on the budget and services would be immense, and would have a greater negative impact on regular people. 3. Gutting the government will create chaos in every sector, along with diminishing quality of life for everybody. Investors are not comfortable with chaos, so they would pull money. Certain commodities would do well, such as gold. Crypto, however, tracks stocks.
But he was deadly serious about cutting taxes, and his signature legislative achievement, the Tax Cuts and Jobs Act of 2017, gave corporations a 40 percent discount on their taxes. It also delivered one of the single largest tax cuts for the wealthy in U.S. history, with the richest 0.1 percent of Americans getting a tax cut that was 277 times larger than that of middle-class households. While the bill didn't live up to its promises of higher pay for workers and increased economic growth, it did line the pockets of shareholders and CEOs, and added $1.9 trillion to the deficit.
Yes. A master at lying to everyone, and then lying more, then more lies…..until people don’t know what to believe. gullible uneducated huddled masses thinking he’s a God!
I’m in my early 40’s and have a couple Ira’s that are currently in high risk/high growth. They’ve done well these past couple years but I’m wondering if I should switch to a low risk?
Yes you should. Sit in CDs or T bills earning 4-5% easy money, while the red party crashes the economy and stock market with it. I went through 2008 50% haircut, and Covid haircut. Finally back and above and currently 80% in CDs. Other 4 stocks left is a 5%+ dividend yielding small cap, a REIT yielding 6%, and 2 BDC's yielding 11% and 9%. Bought those BDC's strictly for the dividends. I am lot older than you so more cautious, and can't afford to get crushed by the incoming admins track record of crushing losses. This WS "market" is severly overpriced . Tech is beyond reality, along with large caps with P/E ratios close to 40. Should be 17 P/E's or lower for most companies. GL to you. CASH WILL BE KING
Same here; been retired over 20 yrs. Biden's infrastructure was what moved industries upward with new construction nationwide & accompanying employmt for ppl who've now had money to spend after the slump of Covid. Tradesmen, contractors & materials vendors have recharged the economy. In our opinion Biden has been the most consequential of any prez for yrs. It would be great if Repubs followed it up, now that they got the trifecta, rather than dismantle all his work. Trump's a bragging blowhard & has been of little help except to the wealthy. Voters have short memory. Whenever the GOP has been in charge, the Dems have to come back to clean up the mess. Old timer here & seen it over & over. Just think what good times would be ahead if they could work hand in hand.
Like or not, politics impacts policies which impacts economics and our pocket book. It’s very naive and mentally of burry your head in the sand trying to stay away from politics. The smart way is trying to get involved & influence the politics just like majority of Billionaires do.
I work in healthcare and Medicare advantage is an HMO for Medicare. When you have Medicare and a supplemental insurance, you have more freedom for treatment and the health care institutions and Physician’s office can treat you better as no one is restricting them that much. You go to Medicare Advantage, many do’s and dont’s are regulated. Many looked forward to en Medicare for more healthcare freedom and get out of HMO’s which is most of your option while at working age, you will never be free from the HMO clutch of Medicare advantage. It is more ones for the insurance carrier than your health. I am seeing this in home care and in acute care settings
Look at all his pervious businesses. He spent and relief on bankruptcy, multiple bankruptcies to bail him out. He never could handle a budget and spend responsibility as a business owner. The fact that his supporters think he can do it as president and more add exponentially to the deficit boggles my mind.
If Trump kicks out all of the immigrants who is going to work in the home care business ?? It pays just above minimum wage so has been traditionally a job for people just starting out. Immigrants. Same with farm workers and construction.
The biggest impact in my opinion is healthcare, especially for those who retire early! The ACA is gone! If you have pre-existing conditions, you better have budgeted for that because your healthcare costs are going to skyrocket!
I’m just looking at what happened the last time Trump was president. Brazil was a big winner because China retaliated against the tariffs by buying soybeans from Brazil instead of the U.S. I might change my investment mix to more foreign markets. Tax cuts raised the deficit. We are also going to buckle down because things will get more expensive because of tariffs.
@@josephjroy6593 actually is $28 billion, but yes, you are essentially correct and that bailout helped drive up the explosion of national debt that occurred during Trump’s first term.
And the farmers that passed their farms to their families for generations went out of business. John Deere and all other businesses suffered because they had no one to buy soybeans.
Trump's victory and the recently concluded elections has propelled the markets positively, what a time to be alive. I anticipate positive growth in the markets for 2025, and I'm considering investing $220k in stocks for my retirement plan due to recent rate cuts.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
I think the stock market was up because investors correctly predicted that companies would be buying up as much inventory as possible before tariffs hit.
Couldnt possibly be that in his first term he removed bureaucratic regulations that helped keep no jobs except govt ones that cost the companies (and consumers) money instead of having a person in office who was involved in increasing regs (and inflation) and could see nothing she would do differently.
I like not having the B roll. I often think 'Do editors think we all have the attention span of 7th graders? I don't need constant cutaways to goofy B roll.'
I am about 6 years away from retirement. I am fairly conservative at this point I hope - 60 percent in blue chip fund (Microsoft, Eli Lily, Chase) and 40% in low return/low risk GIC. I encourage folks to research Trump's Project 2025 policies, and to look at evaluations by the economist, WSJ, and a letter signed by 23 Nobel Prize winning economists. We could be heading into a significant time of economic turbulence according to these experts, including Elon Musk.
Elon Musk is not an economic expert. Elon is Putin aligned and looking to decimate the US economy, devaluing the US dollar & making crypto the new world currency.
Musk says americans will be in hard times for two years. He 'll be gone by then. Social security will be gone in 6 years due to trump because it wont be funded. It's not hard to understand it. He'll give it all to his billionaire friends. Lastly why would ANYONE believe what trump says as he lies whenever he opens his mouth. Or did you forget that?
If I were you, I would be bailing and tacking profits. I only have 4 stocks left between my 401k and IRA. Holding big bucks in CDs, between 4-5.50%. The chump will tank the WS casino, as countries with smart leaders will buy elsewhere. China and Russia will take over as the wealthiest large nations. They will not buy oil or ag products from the USA. Corporations will only continue to throw huge money to the top execs. The union busting red party will destroy the middle class. It will only be rich or poor like in most countries. For now I will take monthly interest payments from red state bubba banks and horde my cash after a year. Then exit the country where I can afford to live much nicer and afford healthcare.
We have Senior Advantage with a big HMO company. So far it’s been great. If the ACA is toast, others may be toast and if you have pre existing conditions, good luck.
Vos sos de Argentina? You need to check again. Their "Trump" (aka Milei) has brought inflation down to ZERO. Read up before commenting with incorrect facts!
I’m in favor of a tax cut for those caring for a family member. It is very costly to fill in the gap to ensure our loved one’s comfort. Great content…thank you Kevin!
Under Trump, the Dow Jones Average returned 56% according to LPL. This represented a gain of 11.8%. You must be remembering when Obama was president. I lost a bunch of money under his presidency and I was in mutual funds. I lost so much, I put my money in a money market account and unfortunately, didn't put it back in mutual stocks until later in Trumps presidency. If I would have after Obama left, I would have had a much bigger gain.
For retirees to lock in these higher bonds rates, what do you think about an immediate annuity with a lifetime payout and (refund of balance if death before life expectancy.) for a portion of the funds to rebalance into bonds
Kevin, wouldn't long term bond prices drop as fiscal irresponsibility and inflation increases? I am considering short term instead of long term bonds. What do you think about short term vs long term in the current environment?
It’s not too early to tell…tax cuts in an inflationary environment means that companies will roll down debt, buy back stock and put the rest to sleep somewhere offshore. Demand spurs investment, jobs…not tax cuts. Tariffs applied bilaterally, never work due to a number of variables but look at our current account deficits…where do you see Trumps tariffs working as planned? The best case scenario for the Trumps economy is bad.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
What are the impacts of tariffs and mass deportation of immigrants? Where does crypto come in to play and is there any chance trump will reduce capital gains tax?
The market's rise after Trump's win is surprising given the economic uncertainty. While some stocks, like AI-focused ones, look strong long-term, the volatility makes me cautious. Even Bitcoin is seeing a boost, but it's tough to predict where things are heading with inflation and interest rates. Staying cautious but watching for opportunities.
I don't understand how it would be surprising. It was just a bunch of money waiting for the election results. The market didn't go up that much anyhow.
I found this very interesting because I was on my phone yesterday with my financial advisor for almost an hour talking about what is coming down the pike and what we can do to prepare for it. Like the man said politics aside no matter who's in office whether you get a little more money or you get a little less you got to be prepared and do the best with what you got❤
Excellent video. Sadly neither candidate talked much about solvency of SS or MC even though fixing those programs seems easy compared to skyrocketing national debt solutions.
Studies were done and discussed quite a bit that showed Harris's plan would have no effect on SS while Trump's plan would accelerate insolvency by many years (within six). This is mainly from no longer taxing SS benefits, which flows right back into SS.
@hightide4782I can't imagine the GOP doing something as fair and sensible as raising the SS payroll income limit a little to take care of SS. They would rather cut benefits to everyone else so the wealthiest pay less, pretty much their solid track record for decades.
SS fix is easy. MC not so much. See Karl Denninger to check out what would be required. There is too much pork/bribe money flowing for any political party to wade into the mess.
Just like they did in his first term.... wait, there were no decreases in freedoms in his first term.... Al lot of shots at the first, second and forth AD between the two though.
@@tonyherdina9142 Exactly. Unfortunately an answer to your question will be available about 2 years into the future. Providing an answer now would sound like a complaint. Let us get back to you with actual facts as they come. Oh because they will come in waves my friend. Every country has the government they deserve. That’s all I will say for now.
Does it make sense to shift more of our investments out of the US? Tax cuts unpaid for = higher deficit. Tariffs = inflation. Trump messing with the Fed = less confidence in our monetary system's integrity. I just see no upside to Trump's policies. And a lot of risk.
Moving money out of the US adds the element of foreign currency exchange rates to your portfolio. In my opinion, that's adding significant risk (volatility).
The US dollar is really high which is why I think the American people can swallow the tariffs. Example: an appliance which costs $1000 CDN will now cost $1000 USD (with the tariffs). Maybe some Americans will go to Canada to buy but quite a few will think $1000 CDN is same as $1000 USD. As long as the tariffs are applied to ALL countries, we'll be ok. All the other countries will trade among themselves as usual. Americans who want those products will pay an extra 20% but probably won't feel it because their dollar is strong. All that is to say, keep your US investments (which are in USD). The tariffs will not have too much effect except to fund the government. It's a kind of taxation on consumption like the Canadian GST or the European VAT.
@@caroline10081 You underestimate the fragility of the average US household's budget. 51% of the population just voted for a guy who pledged to be a dictator because of inflation that never got out of the single digits and was down to 2.1% on election day.
@@sco0tpa This is the main reason I've always avoided it in the past. That, and the fact that US companies are already international in a very real sense. Still, if someone wanted to deliberately sabotage the US economy, this is how you would do it. Jack up the deficit, throw up tariffs, deport the low wage labor force. Musk is promising economic pain. It's almost like some idiot or idiots have been spending time talking to Putin.
@@MarkHerman-b6f Trump has to somehow fund his tax cuts and other perks to the rich. Easiest way is to put in a consumption tax. People won't get mad at him because that tax is hidden as higher prices and inflation. Dinging people an extra $500 in April "hurts" more than having them pay an extra $40 to $50 every month. Irony is that most countries give a rebate to low income people to offset consumption tax on necessities like groceries. I don't think Trump is into giving poor people rebates. Americans will find a way to swallow the tariffs. They will delay big purchases. They will switch from beef to chicken. Or chicken to beans. But Trump supporters won't blame Trump. As you noted, this election shows that whoever gets the message out is the winner. People will pay more and think it's normal or Biden's fault.
Thanks for the video! I’m curious regarding bonds allocation. Say I invest 20% into bonds yielding 4% annually. Is this simply a hedge against a potential stock market drop? If I’d live off of the bonds yield my capital will be destroyed by an inflation at a current inflation pace. And if I don’t put any money into bonds I have a great chance to buy more stocks when they are at a discount. So, why being scared of a great stock market sale season?
The median retirement income in the U.S. is around $50,000, and the average tax rate on that is usually 4-5%, thanks to the Standard Deduction ($14,600 for single filers, $29,200 for married couples, and even higher for those 65+). Trumps Project 2025 calls for a flat tax, which might sound good if you're working, especially as a high earner. It proposes simplifying the tax brackets to 15% and 30%, but it also eliminates deductions and credits. So, for example, if you currently have an effective tax rate of 19% on an income of $165,000, you could benefit from a lower rate. But for retirees making around the median $50K with a current effective rate of 4-5%, your taxes could triple under this plan, jumping to 15%. That’s a big increase!
57% of America has spoken. I hope they get exactly what they want. It just leads us right into a hyperinflationary depression sooner: "He was deadly serious about cutting taxes, and his signature legislative achievement, the Tax Cuts and Jobs Act of 2017, gave corporations a 40 percent discount on their taxes. It also delivered one of the single largest tax cuts for the wealthy in U.S. history, with the richest 0.1 percent of Americans getting a tax cut that was 277 times larger than that of middle-class households. While the bill didn't live up to its promises of higher pay for workers and increased economic growth, it did line the pockets of shareholders and CEOs, and added $1.9 trillion to the deficit."
Building wealth requires disciplined habits, such as consistently setting aside funds for reliable investments. Effective financial management is a critical topic that many avoid, often to their detriment down the line. Earning money is one thing-preserving and growing it is another.
2:05 Tax cuts are great for economic growth and business. That needs to be reworded. Tax cuts are great for helping the wealthy get more wealthy. See I fixed it. The 2017 tax cuts increased my tax burden.
Love him or hate him, you have to admit this could shake things up financially. I’ve been thinking a lot about how this might impact retirement savings and investments
Adding big tariffs on all of the imports from other countries like Asian countries will vastly affect the cost of everything that is bought in Walmart, Costco, and Amazon. All of those people who voted for Trump because they didn’t like inflation then they will be affected substantially with higher consumer goods.
Exactly and I can't wait to see them file BK left and right. I give it a year..max 2 years. I am 80% in CDs letting bubba red state banks pay me to sit on the sidelines and ring the cash register monthly. I only buy monthly paying CDs,,which go into Fidelity MM sweep account. As the money piles up, I add that cash onto another CD that matures. Have one CD actually in a blue state paying me 5.40% for 5 years. It is callable the end of this month and so far have not called it. IMO, inflation will skyrocket from the dunces taking over our country, so that 5.40% might be on the low end next year. Fine by me to see 10% interest, while watching the cult cry about eggs and gas.
This is a huge issue for the many senior citizens aging and on a tight income. The last time Trump was in this office our income taxes went up by $3,000. We know about what our taxes are each year because our income is about the same every year. Our cost for our taxers is generally around $2,500-$2,800. that we have to come up with at tax time in a typical year. But as I said previously they shot up by $3,000 and we were not in any way prepare for that increase.
Unless you were impacted by the salt Cap, your taxes would have decreased due to the tax reduction act that was signed in 2017. That’s why those high-tax states are not the best to live in and retirement. Seniors need to pressure their state government to lower taxes in their states.
We came out of the Biden Harris Bear Market and the current Bull Market started precisely when Trump announced that he was running again in November of 2022. This past week is proof that the Bull market is riding speculation of Trump's policies and the corporate tax cuts that are still in place.
@@brads774That’s right. People need to move to lousy places to live because Trump decided to punish blue states. There’s a reason prices and populations are low in most red states.
Last time he was in charge my investment was a yo yo. He's so unsure and radical , the market will be a mess trying to follow his words versus actions. Our debt will go go up.
If he was so unsure and radical as you say, he wouldn't have been elected in a massive win. It's comical how you say the market will be a mess. That's what they said before he took office in his first term. They were wrong and will be once again. I have an extra $20k due to the market the other day. I hoping to buy a POTUS47 gold coin with it as a celebration 😉
@@Rae1111namaste It's the stock footage showing e.g. well dressed kids pretending to argue something important with a high-dollar high-rise office background.
Actually this is a common situation , for example when a Government brings in a tax like GST or VAT they will compensate the households with a tax cut for the purpose of relying less on income taxes and more on indirect taxes. This has happened in many countries around the world. Tax cuts adds to the the consumer spending tariffs takes it away.
We are about to go into a hyperinlationay depression that leads us right into a deflationary depression.. or said another way stagflation like the world has never seen. Orange boy just makes that happen faster and be way worse. I think IQs have dropped significantly ... in fact, I am counting on it.... sadly.
No editing and brolls needed. Simply stick some slides to better explain the words and that’s more than enough! Those brolls from shutterstock just don’t make a lot of sense especially when used over and over again across many channels.
Trump has said "economic growth during his term will take care of the these (social security) funding issues"?? You mean, like the 2017 TCJA was going to lead to a GDP growth rate of over 4% (didn't happen) and pay for itself due to increased government revenue (another nope)? Yeah, no one should hold their breath on that one. Note to self: "Have lots of cash ready to dump into T-bills when the Fed raises interest rates to 1980s levels to combat tariff-induced inflation."
The economy is doing well. Unemployment is low. New jobs are appearing. Inflation is down considerably. The stock market continues to do well. Medicare, Social Security, and the ACA are stable. All Trump has to do is come in and screw it all up. And he will.
What color is the sky in your world?
@@MOstix13 His is TDS. Lum will probably censor this comment because his gal didn't win.
If all that is really true, how come Kamala was going to "fix" things?
@@gan_the_whitewait for it.
@@tomj528 AND TRUMP WAS GOING TO DO SO MUCH THE FIRST TIME BUT DID NOT PASS ONE BILL IN 4 YEARS. HE WILL DO THE SAME THIS TIME. HE IS MORE INTERESTED IN GETTING EVEN WITH ALL THE POLITICIANS THAT WENT AGAINST HIM.. OVER 100 SUPPORTED KAMALA. HE WANTS,TO TRASH SOCSEC. MEDICARE, AFFORDABLE,CARE INSURANCE, PUT HIGH TARIFFS ON IMPORTS. HE STILL THINKS THE EXPORTER PAYS THE TARIFF YET NO ONE IS SMART ENOUGH TO EXPLAIN THEY DON'T. HIS SUPPORTERS BELIEVED ALL HIS LIES AND THINK HE WILL FIX THE BROKEN THINGS.
It's amazing how so many don't understand basic economics. The whole raising tariffs policy will expedite inflation, not help. This guy is spot on.
No it won’t. Do you even work for a company that experiences these tariffs. I do. The tariffs simply can’t be passed on to the next buyer.
As a distribution company, we have a choice to continue to import or source locally. We also have a choice to pass on costs to the retailer. The retailer has a choice too to pass costs on to the consumer.
The fear for both is that the increased prices will force the consumers to stop buying or buying less frequently.
But wait. If corporate tax cuts are introduced and why not since tariff revenues increased then companies don’t need to pass on the costs to the consumers.
This guy nor you is spot on. If what I’m saying is wrong then why did the stock market jump up as it did. Many have this figured out. You certainly should try to better understand.
@@f430ferrari5 random dude on the Internet, versus every textbook, nobel prize winning economist, and history on what happened to the washing machine industry during the trump 1st term.
@@f430ferrari5 the stock market hit records 7 times in October, 40 times in 2024, and people still thought the economy was poor.
When Trump lost his last trade war we had to literally bail out US farmers, and Harley Davidson almost moved to Thailand.
Right now, warehouse workers are losing Christmas bonuses as retailers stock up on goods.
Tim Cook at Apple expects to see price increases.
A PlayStation is about to jump to 1000$. And that doesn't even touch on the food we import.
If you don't understand this, you are living in a fantasy world.
@@toypianos469 and the only reason why warehouse workers are losing out on Christmas bonuses is because of Biden/Harris/Democrats. Soft on crime has caused insurance premiums to skyrocket for all companies. Same for covering the actual costs of theft and vandalism.
Another reason Trump elected.
@f430ferrari5 I do and you're full of it 😂. The consumer ultimately ends up paying
When Elon Musk says the federal budget must be cut by $2T and 70% of that budget is Social Security, Medicare, or Defense/Homeland Security, it means the richest man in the world is going to screw over those in retirement. Let that sink in.
Elon will probably cut giving many hundreds of billions to Ukraine and illegal aliens. He might cut IRS jobs, too. There's a lot of fat to cut that isn't entitlements.
Well, that's how you cut $2 trillion out of a $1.7 trillion budget.
@@D2chukhna I want
@@D2chukhna to make
@@D2chukhna replies keep
The long term question isn’t if our money will be there, but if it will be worth much.
How do you figure that -
@ money is an abstraction based on trust. Trust in government and banks along with trust in the individual integrity of those who use money in their lives. With less use of money in hand and just on a card it is more of an abstraction than ever. The upcoming administration has said devaluation of the dollar wouldn’t be so bad. The question that needs to be asked is why. Bitcoin anyone? Debt default?
Agreed. In only four years, what cost $4 now costs $5. Did you get a salary raise of 25%? Did your portfolio go up 25% since then? Plenty of criticisms against Trump, but I’m seeing proof to not trust the Dems.
...and will our Nation be here?
@ for sure it will be different…always evolving.
We have an education problem
In this country. People goggling “how do tariffs work” “did Biden resign” and “can I change my vote” AFTER the election, is concerning.
You can’t change your vote. Trump told us all what he was going to do. He showed us who he was. Certain people just didn’t believe him. When someone shows you who they are, believe them. Maya Angelo
So the people who are telling you that taxing corps doest affect your budget, eliminating 6 figure energy jobs for non existent 35K govt subsidized jobs doesnt affect the economy, disallowing pipelines so we cant sell energy doesnt affect the economy, increasing the size of govt doesnt affect the economy, calling a 3% raise in inflation a downturn because it only added 3% to the 26% that happened under their watch, who were the ones who taxed SS, gave emergency funds and SS funds to whoever they wanted to, oh, and BTW instituted tariffs themselves, are the ones who are the ones to be instructing in economics... I'll pass thanks
@here’s where understanding rhetorical fallacies comes into play. “Irrelevant Conclusion”: Just because the Dems screwed some things up does not mean that Trump isn’t a danger to democracy.
@@zoundstreetop Yet because Dems continue to screw up the same things then double down and more of the same, they are the true danger to the republic. Do not confuse a danger to the democrat party with a danger to democracy. I was a democrat a long time ago. They left the working class behind in the 1990's. We had two 4 year terms to compare philosophy's, In one we were thriving, in the other we were not. Trump isnt the answer, but the last 4 years showed that Democrats are.
I find it laughable . Lets me know us Libs won't be alone in our regretting their decision. Wonder how they'll take to learning after 200 years the American Experiment has failed and it will take decades to get it back. And it will take that long because the morons will continue to blame Democrats and buy into conspiracy theories rather than accept the consequences of their own ignorant, bad decisions.
I'm deeply concerned about wealth redistribution to the top 1% who will be subject to lower or no taxes. Corporate taxes are way too low, 21%, to be reduced to 12.5%?! In the 50's through the 90's It was 50% lowering to 40%. This looks a lot like the beginnings of the Great Depression, excessive tariffs, the rich and corporations not paying their fair share, a very high stock market. Record corporate profits and stock buybacks. Enormous wealth disparity and a declining and overtaxed middle class. Cutting of social security taxes will lead to a disastrous funding shortage for Social Security which will run to a balanced level in 2035. In 2036 Social Security can only pay 83% of its committed funds. Social security contributions are limited to $174,900 in 2024. Why is there a limit? Millionaires and Billionaires are only paying on this contribution limit. Amazing!
It amazes me how so many people can support someone who is so full of themselves. “Everything I do and have ever done is better than what anyone else has done. Whoever disagrees with me is a loser” Come on. I think Trumps core values as a human being represent America very well right now
Thank you. I've been searching for this exact tutorial since the election. 58 & 61 very precarious ages....Greatly appreciate your time!
In this vid you don’t touch on what happens to early retirees if (when) the ACA is repealed, and with it insurance companies back to discriminate based on preexisting conditions.
Yeah, and for younger women, pregnancy is a preexisting condition…
Covid infections are preexisting conditions
It’s okay. Trump has a concept of a plan.
Yeah, I wish I’d touched on that - but honestly, I doubt they’ll repeal ACA at this point. But I have no idea.
@ If they take the house, the probability goes to at least 75% they will Eliminate. GOP and now Project 2025 make it clear that is their goal. As well as reduce Medicaid and other health care initiatives that will prove very costly to all Americans. It will take 4 senators to block. After Murkowski and Collins, I don’t see two more who will defend it. We shall see.
I have worked in a hospital for over 30 years. Hospitals are closing ie especially the critical access hospitals. Get rid of ACA-major hospitals will close. Quality has decreased and will get worse if ACA is not around
I hope Hospice care is still available next year.
@@bucksnort2216 you know trump doesn't care about people in hospice
Without ACA, people without insurance will use Emergency Departments as sole access to healthcare. This will overburden ED’s and lead to extremely long waits and hardship
You’re right. I live in a Medicare heavy State - older population, and we serve many mental health patients on Medicaid, too. I work in a hospital, as well…Trump’s gutting of these programs will tank healthcare.
Way too many Hospitals in my town AND too many mini hospitals (aka mini Emergency Rooms that bill like a hospital). Consolidation (reduce waste) is actually good.
Thank you for your content. As far as the lack of B roll ….thank you for that too!! There are many of us who appreciate not having the editors do whatever they do. Frankly, that’s annoying and most of us are able to sit through and have the attention span to not need those gimmicky secondary additions
Trump has a childlike grasp of macroeconomics. Tariffs raise the cost of everything. Tax cuts for billionaires exponentially raises the debt.
Biden had no grasp of anything. He spent our tax dollars on stupid stuff and we had the highest inflation in decades.
Except that he got tax cuts for everyone, middle class got a higher percentage tax cut (Read fact, dont watch the View), during his first term. Tariff can raise the cost of everything, they can also provide more jobs. EG the 25% tariff on pickup truck is the reason that Toyota makes trucks in the US making US jobs for US workers and all of the satellite employment also. Not to mention that it is a usable political weapon to use against govts who are causing the price of US made goods to be so high in other countries that we cant sell there (French wine EG). Moreover this is a tad disingenuous from the ideology that thinks taxing corps and billionaires doesnt affect the price of goods, services and lifestyle of middle class.
@@grega2362 "middle class got a higher percentage tax cut" - source? Where can I read more about this?
Tariffs force other countries to become not US investors giving jobs to other counties. SS and Medicare will crush his voter bases since the middle class does really exist. Stock market boom is for buying back stock not investing in companies or people.
@@grega2362 The tax cuts were absolutely trivial for the middle class but you can believe otherwise.
Well. I just finished updating my resume today. Start applying for jobs tomorrow. Spent the last 4 to 5 years building up a decent direct to consumer small farm business. Between losing health insurance after they gut the ACA and the inevitable recession that Elon and Trump are discussing manufacturing, I might get a good two years of work and healthcare in before I'm laid off. If I'm lucky. Let this seek in. Trump proposes a 80% to 100% tariff on Mexican goods. If my $1200 refigerator stops working in 2 years, tge same refigerator will probably cost $2000 to replace. Inflation is 2.4%. Unemployment at 4%. Mortgage interest rates in the 6% range. Enjoy these numbers while they last. In two years they are going to seem like a distant dream.
I was retiring in '26.
Not anymore.
I will be working to my dying day.
Thank you, America.
The Democrats focus on long-term results, but the Republicans believe quick results.
You might want to consider leaving the US.
My plan is still on strong. The stock market skyrocketed after Trump was elected!!! And now my income taxes won’t increase either
@herrickinman9303 you can run, but you can't hide. Trump is out to F the world.
@@JennyLouRN Except for the correction in 2022, the stock market has been in an uptrend ever since Biden took office. Just look at the S&P 500. From the day he took office until mid Oct. 2024, the S&P500 has risen over 50%.
Cutting taxes to stimulate the economy? Haven't we tried "trickle down economics" before and found that it doesn't work? Corporations increased stock buy back and executive compensation with their tax savings windfall.
Trickle down is a joke...like my grandpa told me years ago when a dollar hits a rich mans pocket it stays there.
Yeah, taxing us all into prosperity seems like a good idea!
@@larrybenedict4984 When you cut taxes without spending cuts, you increase the national debt leading to inflation. Exactly what happened during the last Trump administration.
@@larrybenedict4984 It does if you're elderly. Prior to social security over 40% of seniors lived in poverty. Medicare and Medicaid often end up paying for nursing home care. Since most federal taxes go to SS and Medicare and many states have laws on the books that state children can be held responsible for their parents' debt having the two in place seems like a good idea.... Unless you're hip on moving your folks into your house to nurse them when those safety nets are gone.
@@BP-1988 The deficit increase had a lot to do with what was happening with Covid at that time. Actually, contrary to what you’ve said is the fact that tax revenue actually increases when you lower tax rates because the economy picks up and so there is more to tax. Happened during the Reagan tax cuts. And who said spending won’t be cut under Trump? Believe he has specifically said he’s going to cut the Government.
I've got the popcorn popping. It'll be interesting.
Love the content. I actually hate the cheap, generic b-roll that so many RUclipsrs use. Please feel free to forgo that in the future.
I actually prefer no B Roll it just seems more authentic.
I do as well, but it tends to impact retention. Apparently you need visual change to keep attention.
@@foundryfinancialOh that explains all the cheeseball stock b-roll in so many RUclips videos. I agree, yuck, it gets old.
But I understand you didn't design the game, but are incentived to play it for improved channel growth.
Either way, the most important thing is we appreciate you and all the super sound advice and perspective you provide as such a valuable public service on this channel, so thank you Mr. Lum!
Same. I hate B Roll...it's so cheesy
Thanks for this. It helps clarify things and reduce anxiety around retirement planning for me
You should be more anxious than ever. Nothing in project 2025, the blueprint for this new administration, is there to expand the middle class! All of it is about making the rich richer; while making the middle class MUTE on the subject!
63% of Americans have not net worth, and therefor no retirement options. They will be working until they die. Expect that to increase to 75% over the next 4 years. Unless you have $2,000,000 + in retirement, you will definitely be struggling to maintain the lifestyle you have become accustomed to!
Thanks for your thoughts. I agree with you. With SS and Medicare already in trouble I hope the elimination of taxes on SS and an increased push to MA plans doesn’t happen. I think the less fortunate among us are in for a rough patch.
I am so afraid of thar MA push. You have people in Florida, Calif, and a couple of othe areas that have wonderful MA plans 4000 in dental, 1500 for glasses, 2000 for hearing aids, no copay to see any doctor in the network, 150 part b giveback, 400 a quater for OTC and healthy foods, CT and MRI are 100 or less, It is crazy. Meanwhile in my state we have 2 plans leaving because they don't make enough money off of us, any dr other than PCP is 35-50 a visit, 250 a day copay if you are put in the hospital for the first 5 days, CTs and MRIS and other such tests are 250. Will they take from them to make it equal for all? oh wait, OM and a medigap plan...
@@juanitarobinson728I feel like the MA plan will hurt those in rural areas. Am I off base in thinking this?
Helpful video Kevin. Thanks!
Your videos are awesome and so appreciated 👏 💐 Thanks for your positive content, and please keep on bringing happiness to our hearts!!!
Good stuff. Some thoughts:
1. Tariffs, if enacted as Trump has said (and it’s always iffy that he does what he says) will affect us sooner than other action, such as tax cuts. Inflation would be drastic pretty quickly. If he weasels out with smaller tariffs, less inflation.
2. Tax cuts would be longer in coming and would have negligible impact on most people. In the last tax cut, I barely saw personal impact. But the impact on the budget and services would be immense, and would have a greater negative impact on regular people.
3. Gutting the government will create chaos in every sector, along with diminishing quality of life for everybody. Investors are not comfortable with chaos, so they would pull money. Certain commodities would do well, such as gold. Crypto, however, tracks stocks.
Trump is an expert at everything, who knows nothing about anything.
But he was deadly serious about cutting taxes, and his signature legislative achievement, the Tax Cuts and Jobs Act of 2017, gave corporations a 40 percent discount on their taxes. It also delivered one of the single largest tax cuts for the wealthy in U.S. history, with the richest 0.1 percent of Americans getting a tax cut that was 277 times larger than that of middle-class households. While the bill didn't live up to its promises of higher pay for workers and increased economic growth, it did line the pockets of shareholders and CEOs, and added $1.9 trillion to the deficit.
Yes. A master at lying to everyone, and then lying more, then more lies…..until people don’t know what to believe. gullible uneducated huddled masses thinking he’s a God!
unless you are a welfare case, you will do better under Trump.
He knows what a woman is. He understands the Laffer curve.
@@chuck_in_socal He certainly knows how to abuse women.
This is great information, and I prefer no B roll footage :)
Thank you. I'm trying to retire in 2 years and need this information going forward.
I’m in my early 40’s and have a couple Ira’s that are currently in high risk/high growth. They’ve done well these past couple years but I’m wondering if I should switch to a low risk?
Yes you should. Sit in CDs or T bills earning 4-5% easy money, while the red party crashes the economy and stock market with it.
I went through 2008 50% haircut, and Covid haircut. Finally back and above and currently 80% in CDs. Other 4 stocks left is a 5%+ dividend yielding small cap, a REIT yielding 6%, and 2 BDC's yielding 11% and 9%. Bought those BDC's strictly for the dividends. I am lot older than you so more cautious, and can't afford to get crushed by the incoming admins track record of crushing losses.
This WS "market" is severly overpriced . Tech is beyond reality, along with large caps with P/E ratios close to 40. Should be 17 P/E's or lower for most companies.
GL to you.
CASH WILL BE KING
Same here; been retired over 20 yrs. Biden's infrastructure was what moved industries upward with new construction nationwide & accompanying employmt for ppl who've now had money to spend after the slump of Covid. Tradesmen, contractors & materials vendors have recharged the economy. In our opinion Biden has been the most consequential of any prez for yrs. It would be great if Repubs followed it up, now that they got the trifecta, rather than dismantle all his work. Trump's a bragging blowhard & has been of little help except to the wealthy. Voters have short memory. Whenever the GOP has been in charge, the Dems have to come back to clean up the mess. Old timer here & seen it over & over. Just think what good times would be ahead if they could work hand in hand.
Thank you so much for making a very objective and informative video and not making it about politics.
Thank you. It’s such a sensitive topic for some, but it’s important to discuss.
Ummm, for those that pay attention, the two are inseparable. Especially now.
Like or not, politics impacts policies which impacts economics and our pocket book. It’s very naive and mentally of burry your head in the sand trying to stay away from politics. The smart way is trying to get involved & influence the politics just like majority of Billionaires do.
I work in healthcare and Medicare advantage is an HMO for Medicare. When you have Medicare and a supplemental insurance, you have more freedom for treatment and the health care institutions and Physician’s office can treat you better as no one is restricting them that much. You go to Medicare Advantage, many do’s and dont’s are regulated. Many looked forward to en Medicare for more healthcare freedom and get out of HMO’s which is most of your option while at working age, you will never be free from the HMO clutch of Medicare advantage. It is more ones for the insurance carrier than your health.
I am seeing this in home care and in acute care settings
Look at all his pervious businesses. He spent and relief on bankruptcy, multiple bankruptcies to bail him out. He never could handle a budget and spend responsibility as a business owner. The fact that his supporters think he can do it as president and more add exponentially to the deficit boggles my mind.
Almost a week later and I’m still in shock.
You said that the last time he was president.
One of his tactics was not paying his bills. Why pay when you can declare bankruptcy?
@@caroline10081 Or better yet, not pay your bills and kick the problem down the road.
At least he worked somewhere other than govt. where there are no consequences for making bad decisions.
If Trump kicks out all of the immigrants who is going to work in the home care business ?? It pays just above minimum wage so has been traditionally a job for people just starting out. Immigrants. Same with farm workers and construction.
Where have you found people in home care business working for just above minimum wage? I've got several people I can send them to!
Black jobs?
or the farm workers? up go the food prices....again.
The biggest impact in my opinion is healthcare, especially for those who retire early! The ACA is gone! If you have pre-existing conditions, you better have budgeted for that because your healthcare costs are going to skyrocket!
It’s not gone. They tried to repeal it last time and failed. People from both parties are in the program. Hyperbole doesn’t help.
The taxes and subsidies in the ACA is what drove healthcare costs through the roof for people who actually pay.
@ yeah, but back then you actually had people that had morals and character on the Republican side! Those people are all gone now!
@ right….keep telling yourself that!
@@tammyflashy9328 it failed only because John McCain had a backbone and some dignity. That's gone now, the Republican party is fully unhinged.
Thank you. This is good information!
We’re f***ed
With no Vaseline
Hold up. So SS is taken, saved in an account, that gains interest. All saving account gain interest. So what is the interest rate for SS account?
I’m just looking at what happened the last time Trump was president. Brazil was a big winner because China retaliated against the tariffs by buying soybeans from Brazil instead of the U.S. I might change my investment mix to more foreign markets. Tax cuts raised the deficit. We are also going to buckle down because things will get more expensive because of tariffs.
Tarrifs are proposed on other countries as well, and they are likely to respond with tarrifs on our agricultural exports. Farmers could be in trouble.
@@j3i2i2yl7They were bailed out, to the tune of 12 Billion, last time Trump was in office.
@@josephjroy6593 actually is $28 billion, but yes, you are essentially correct and that bailout helped drive up the explosion of national debt that occurred during Trump’s first term.
And the farmers that passed their farms to their families for generations went out of business. John Deere and all other businesses suffered because they had no one to buy soybeans.
“Oh but the inflation under Biden”… ??? These people haven’t seen anything yet.
The cap on the SALT deduction has been oppressive for me and in no way has the TCJA provided any benefit to my household.
Trump's victory and the recently concluded elections has propelled the markets positively, what a time to be alive. I anticipate positive growth in the markets for 2025, and I'm considering investing $220k in stocks for my retirement plan due to recent rate cuts.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
who is your finacial advisor
Her name is Annette Marie Holt can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Excellent video. I like your perspectives.
Thanks
I think the stock market was up because investors correctly predicted that companies would be buying up as much inventory as possible before tariffs hit.
Also, any victor is more stable than the campaign.
Couldnt possibly be that in his first term he removed bureaucratic regulations that helped keep no jobs except govt ones that cost the companies (and consumers) money instead of having a person in office who was involved in increasing regs (and inflation) and could see nothing she would do differently.
My theory is that it went up with the expectation that corporate tax rates would most likely not increase and potentially even decrease
@ - My theory is that the stock market goes up or down every day...
Not like it was that big a move.
Exactly
We win briefly 😊 then we lose Bigly 😢for a long time 😢😢😢
unless you are a welfare case, you will do better under Trump.
I like not having the B roll.
I often think 'Do editors think we all have the attention span of 7th graders? I don't need constant cutaways to goofy B roll.'
Yeah, b rolls are how Trump got elected. 😂
Tariffs could cause inflation? Tariffs ARE inflation, and instantly pushed on people.
I am about 6 years away from retirement. I am fairly conservative at this point I hope - 60 percent in blue chip fund (Microsoft, Eli Lily, Chase) and 40% in low return/low risk GIC. I encourage folks to research Trump's Project 2025 policies, and to look at evaluations by the economist, WSJ, and a letter signed by 23 Nobel Prize winning economists. We could be heading into a significant time of economic turbulence according to these experts, including Elon Musk.
Elon Musk is not an economic expert. Elon is Putin aligned and looking to decimate the US economy, devaluing the US dollar & making crypto the new world currency.
Musk says americans will be in hard times for two years. He 'll be gone by then. Social security will be gone in 6 years due to trump because it wont be funded. It's not hard to understand it. He'll give it all to his billionaire friends. Lastly why would ANYONE believe what trump says as he lies whenever he opens his mouth. Or did you forget that?
I think you had a typo regarding Noble Prize economists, Nobel Prize.
@@ChazH2011 Fixed thanks.
If I were you, I would be bailing and tacking profits.
I only have 4 stocks left between my 401k and IRA. Holding big bucks in CDs, between 4-5.50%. The chump will tank the WS casino, as countries with smart leaders will buy elsewhere. China and Russia will take over as the wealthiest large nations. They will not buy oil or ag products from the USA. Corporations will only continue to throw huge money to the top execs. The union busting red party will destroy the middle class. It will only be rich or poor like in most countries. For now I will take monthly interest payments from red state bubba banks and horde my cash after a year. Then exit the country where I can afford to live much nicer and afford healthcare.
Where can I find reliable information on how to pull money from my 401 and invest in bonds?
You can invest in bonds within your 401k. A 401k is not an investment. It is an account with certain tax benefits.
We have Senior Advantage with a big HMO company. So far it’s been great. If the ACA is toast, others may be toast and if you have pre existing conditions, good luck.
You healthy??
@donchristie420 maybe now, but we all need healthcare
@@excatholicatheist my point is that the op said”so far it’s great”and I contend that’s because they are healthy
Advantage plans are structured for those who are healthy.
Thank goodness I’m less than a year from Medicare. I had a major health problem 2 years ago. I would be either dead of bankrupt without the ACA.
Thank you Kevin for the info. Very much appreciate it.
Interestingly, social security began to be taxed in 1984 under Ronald Reagan.
Yea Regan wasn't the great conservative Republicans pretend. He also agreed with democrats to give amnesty to a bunch of illegals
That was a bipartisan amendment.
@jaunt3603 it was!
Biden voted for both rounds of SS taxes.
SS tax likely doesn’t impact the poor. I pay maximum taxes on my SS benefits, but someone has to pay the freight.
Love your channel
Welcome to Argentina and hyperinflation.
Vos sos de Argentina? You need to check again. Their "Trump" (aka Milei) has brought inflation down to ZERO. Read up before commenting with incorrect facts!
No welcome to Germany in the 1930s.
I’m in favor of a tax cut for those caring for a family member. It is very costly to fill in the gap to ensure our loved one’s comfort. Great content…thank you Kevin!
any suggestions with our current deficit on how to pay for those cuts? Yeah. Thought so.
Will I get my social security payments back if I won’t get it
Last time dump was in charge we had a huge stock market crash, our 401 k lost a significant amount, now mr. bankrupt is in charge again, sad😱
Not just him but Musk is his right hand man and he has every intention on crashing the economy.
Under Trump, the Dow Jones Average returned 56% according to LPL. This represented a gain of 11.8%. You must be remembering when Obama was president. I lost a bunch of money under his presidency and I was in mutual funds. I lost so much, I put my money in a money market account and unfortunately, didn't put it back in mutual stocks until later in Trumps presidency. If I would have after Obama left, I would have had a much bigger gain.
For retirees to lock in these higher bonds rates, what do you think about an immediate annuity with a lifetime payout and (refund of balance if death before life expectancy.) for a portion of the funds to rebalance into bonds
Tariffs are likely to fuel inflation as new tariff costs are passed on to the consumer. Inflation is a real concern.
You are absolutely correct. Trump doesn't understand how tarriffs work.
You're underestimating the team! It's not about Trump. Musk, Vivek, RFK, will clean house, food, and waste.Thank the Lord
What about the products made in the USA? Will those prices be lower with a corporate tax cut for USA made products?
@@jimbrown4640When Corporations get tax cuts they pass on the profits to their shareholders and pay millions in bonuses to the CEO.
@@jimbrown4640 It will take years to build up that production, if ever.
Kevin, wouldn't long term bond prices drop as fiscal irresponsibility and inflation increases? I am considering short term instead of long term bonds. What do you think about short term vs long term in the current environment?
Cool 😎 Thank you for the heads up 😊
What about Bond ETFs?
It’s not too early to tell…tax cuts in an inflationary environment means that companies will roll down debt, buy back stock and put the rest to sleep somewhere offshore. Demand spurs investment, jobs…not tax cuts. Tariffs applied bilaterally, never work due to a number of variables but look at our current account deficits…where do you see Trumps tariffs working as planned?
The best case scenario for the Trumps economy is bad.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
What are the impacts of tariffs and mass deportation of immigrants? Where does crypto come in to play and is there any chance trump will reduce capital gains tax?
The market's rise after Trump's win is surprising given the economic uncertainty. While some stocks, like AI-focused ones, look strong long-term, the volatility makes me cautious. Even Bitcoin is seeing a boost, but it's tough to predict where things are heading with inflation and interest rates. Staying cautious but watching for opportunities.
I don't understand how it would be surprising. It was just a bunch of money waiting for the election results. The market didn't go up that much anyhow.
I found this very interesting because I was on my phone yesterday with my financial advisor for almost an hour talking about what is coming down the pike and what we can do to prepare for it. Like the man said politics aside no matter who's in office whether you get a little more money or you get a little less you got to be prepared and do the best with what you got❤
When a low level person takes charge, low level thought goes into actions.
Just imagine if Harris took charge
And low level, he is.
@@jerrypedrick6206 I don't recall Harris boasting about her bankruptcy and failed investments! LOL!
Lowest of the low…
@@RonBoger Not sure how many bankruptcies Trump has had 5, 6? He's likely to bankrupt the US.
Great great video, thx so much!!!
Excellent video. Sadly neither candidate talked much about solvency of SS or MC even though fixing those programs seems easy compared to skyrocketing national debt solutions.
Studies were done and discussed quite a bit that showed Harris's plan would have no effect on SS while Trump's plan would accelerate insolvency by many years (within six). This is mainly from no longer taxing SS benefits, which flows right back into SS.
@hightide4782I can't imagine the GOP doing something as fair and sensible as raising the SS payroll income limit a little to take care of SS. They would rather cut benefits to everyone else so the wealthiest pay less, pretty much their solid track record for decades.
The GOP slam on ACA was that it was a “gift” to insurance companies? What would vouchers or force to advantage plans be to insurance companies?
Long term it's all F'ed because our population is aging and people don't want immigrants anymore.
SS fix is easy. MC not so much.
See Karl Denninger to check out what would be required. There is too much pork/bribe money flowing for any political party to wade into the mess.
What about people who are already retired
it might not affect the stock market, but your freedoms are about to take some major hits.
In what way?
Just like they did in his first term.... wait, there were no decreases in freedoms in his first term.... Al lot of shots at the first, second and forth AD between the two though.
Freedom lost under Biden. Trump cut regulations.
Touché
@@tonyherdina9142
Exactly. Unfortunately an answer to your question will be available about 2 years into the future. Providing an answer now would sound like a complaint. Let us get back to you with actual facts as they come. Oh because they will come in waves my friend. Every country has the government they deserve. That’s all I will say for now.
When will the SSI Cap be lifted?
“Trump said”. lol. You gotta be kidding.
I mean seriously. The guy is a prolific liar. The vast bulk of his clownish ideas will never see the light of day.
Exactly my thought. He’d say anything in order to get re-elected. Plus he lies. Constantly.
Yes, it's "PRESIDENT Trump" to you and yours.
@@mapleaf6672No, it’s Dump to me and mine.
@@barbiec4312- just like the right said about Biden and I say the same thing about Trump. Trump is NOT my president.
Thank you! Good information.
Does it make sense to shift more of our investments out of the US? Tax cuts unpaid for = higher deficit. Tariffs = inflation. Trump messing with the Fed = less confidence in our monetary system's integrity. I just see no upside to Trump's policies. And a lot of risk.
Moving money out of the US adds the element of foreign currency exchange rates to your portfolio. In my opinion, that's adding significant risk (volatility).
The US dollar is really high which is why I think the American people can swallow the tariffs. Example: an appliance which costs $1000 CDN will now cost $1000 USD (with the tariffs). Maybe some Americans will go to Canada to buy but quite a few will think $1000 CDN is same as $1000 USD. As long as the tariffs are applied to ALL countries, we'll be ok. All the other countries will trade among themselves as usual. Americans who want those products will pay an extra 20% but probably won't feel it because their dollar is strong. All that is to say, keep your US investments (which are in USD). The tariffs will not have too much effect except to fund the government. It's a kind of taxation on consumption like the Canadian GST or the European VAT.
@@caroline10081 You underestimate the fragility of the average US household's budget. 51% of the population just voted for a guy who pledged to be a dictator because of inflation that never got out of the single digits and was down to 2.1% on election day.
@@sco0tpa This is the main reason I've always avoided it in the past. That, and the fact that US companies are already international in a very real sense. Still, if someone wanted to deliberately sabotage the US economy, this is how you would do it. Jack up the deficit, throw up tariffs, deport the low wage labor force. Musk is promising economic pain. It's almost like some idiot or idiots have been spending time talking to Putin.
@@MarkHerman-b6f Trump has to somehow fund his tax cuts and other perks to the rich. Easiest way is to put in a consumption tax. People won't get mad at him because that tax is hidden as higher prices and inflation. Dinging people an extra $500 in April "hurts" more than having them pay an extra $40 to $50 every month. Irony is that most countries give a rebate to low income people to offset consumption tax on necessities like groceries. I don't think Trump is into giving poor people rebates. Americans will find a way to swallow the tariffs. They will delay big purchases. They will switch from beef to chicken. Or chicken to beans. But Trump supporters won't blame Trump. As you noted, this election shows that whoever gets the message out is the winner. People will pay more and think it's normal or Biden's fault.
Thanks for the video! I’m curious regarding bonds allocation. Say I invest 20% into bonds yielding 4% annually. Is this simply a hedge against a potential stock market drop?
If I’d live off of the bonds yield my capital will be destroyed by an inflation at a current inflation pace.
And if I don’t put any money into bonds I have a great chance to buy more stocks when they are at a discount.
So, why being scared of a great stock market sale season?
The median retirement income in the U.S. is around $50,000, and the average tax rate on that is usually 4-5%, thanks to the Standard Deduction ($14,600 for single filers, $29,200 for married couples, and even higher for those 65+).
Trumps Project 2025 calls for a flat tax, which might sound good if you're working, especially as a high earner. It proposes simplifying the tax brackets to 15% and 30%, but it also eliminates deductions and credits.
So, for example, if you currently have an effective tax rate of 19% on an income of $165,000, you could benefit from a lower rate.
But for retirees making around the median $50K with a current effective rate of 4-5%, your taxes could triple under this plan, jumping to 15%. That’s a big increase!
Correct Unfortunately his MAGA sheep won’t understand that.
57% of America has spoken. I hope they get exactly what they want. It just leads us right into a hyperinflationary depression sooner: "He was deadly serious about cutting taxes, and his signature legislative achievement, the Tax Cuts and Jobs Act of 2017, gave corporations a 40 percent discount on their taxes. It also delivered one of the single largest tax cuts for the wealthy in U.S. history, with the richest 0.1 percent of Americans getting a tax cut that was 277 times larger than that of middle-class households. While the bill didn't live up to its promises of higher pay for workers and increased economic growth, it did line the pockets of shareholders and CEOs, and added $1.9 trillion to the deficit."
Project 2025 has NOTHING to do with Trump.
Project 2025 will never be implemented.
But taxes are already flat at the top , especially at the upper quintile
Thank you for the content
Building wealth requires disciplined habits, such as consistently setting aside funds for reliable investments. Effective financial management is a critical topic that many avoid, often to their detriment down the line. Earning money is one thing-preserving and growing it is another.
This sounds like the lead in for one of those bot crypto scams. I hope I’m wrong.
2:05 Tax cuts are great for economic growth and business. That needs to be reworded. Tax cuts are great for helping the wealthy get more wealthy. See I fixed it. The 2017 tax cuts increased my tax burden.
Love him or hate him, you have to admit this could shake things up financially. I’ve been thinking a lot about how this might impact retirement savings and investments
Great presentation!
If Trump does tariffs and kicks all the workers out, the market has to collapse
You did great....even w/o b roll. 😊
Adding big tariffs on all of the imports from other countries like Asian countries will vastly affect the cost of everything that is bought in Walmart, Costco, and Amazon. All of those people who voted for Trump because they didn’t like inflation then they will be affected substantially with higher consumer goods.
And maga will believe trump when he blames it on democrats.
Exactly and I can't wait to see them file BK left and right. I give it a year..max 2 years. I am 80% in CDs letting bubba red state banks pay me to sit on the sidelines and ring the cash register monthly. I only buy monthly paying CDs,,which go into Fidelity MM sweep account. As the money piles up, I add that cash onto another CD that matures. Have one CD actually in a blue state paying me 5.40% for 5 years. It is callable the end of this month and so far have not called it. IMO, inflation will skyrocket from the dunces taking over our country, so that 5.40% might be on the low end next year. Fine by me to see 10% interest, while watching the cult cry about eggs and gas.
@@wa210 I think I'll just let inflation drive up my mutual fund returns. A lot less hassle and probably more return for me.
Those tax cuts make me pay about double what I was paying. So plan on paying more taxes ✔️
Trump and Musk administration will make the rich more rich. Good luck to use all.
Privatization is code for cost twice as much......... see your electric bill for conformation.
This is a huge issue for the many senior citizens aging and on a tight income. The last time Trump was in this office our income taxes went up by $3,000. We know about what our taxes are each year because our income is about the same every year. Our cost for our taxers is generally around $2,500-$2,800. that we have to come up with at tax time in a typical year. But as I said previously they shot up by $3,000 and we were not in any way prepare for that increase.
Interesting. What caused the increase? The SALT cap?
Unless you were impacted by the salt Cap, your taxes would have decreased due to the tax reduction act that was signed in 2017. That’s why those high-tax states are not the best to live in and retirement. Seniors need to pressure their state government to lower taxes in their states.
We came out of the Biden Harris Bear Market and the current Bull Market started precisely when Trump announced that he was running again in November of 2022. This past week is proof that the Bull market is riding speculation of Trump's policies and the corporate tax cuts that are still in place.
@@brads774That’s right. People need to move to lousy places to live because Trump decided to punish blue states. There’s a reason prices and populations are low in most red states.
Interesting because my taxes went down and my take home pay went up
Two unknowns.
1) Which items will Trump actually do?
2) Will Project 2025 become reality and change some of these items?
Honestly it won't change my financial plan at all.
Buy something like SCHD and hunker down.
I love how Trump put in the SALT cap and then ran on lifting the SALT cap. There is no dumber candidate or country than Trump and the US.
Hi , I enjoyed your video but want to let you know that your video and audio are out of sync.
Hmm. That’s what happens when I edit it myself. Thanks for letting me know.
Last time he was in charge my investment was a yo yo.
He's so unsure and radical , the market will be a mess trying to follow his words versus actions.
Our debt will go go up.
That’s always the challenge, trying to separate reality from negotiation strategy.
If he was so unsure and radical as you say, he wouldn't have been elected in a massive win. It's comical how you say the market will be a mess. That's what they said before he took office in his first term. They were wrong and will be once again. I have an extra $20k due to the market the other day. I hoping to buy a POTUS47 gold coin with it as a celebration 😉
My investments soared during Trump's first term.
@@KathleenMcNe the market crashed what's your investment stocks or bonds or bitc etc...
My portfolio so far has increased under Biden more than 16% over Trump’s increase
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Can't stand videos with much B-roll. Only 2nd to hating videos with stupid background music.
What is a b roll?
@@Rae1111namaste It's the stock footage showing e.g. well dressed kids pretending to argue something important with a high-dollar high-rise office background.
@@boggy7665ah ok. Thank you! 🙏🏼
Actually this is a common situation , for example when a Government brings in a tax like GST or VAT they will compensate the households with a tax cut for the purpose of relying less on income taxes and more on indirect taxes. This has happened in many countries around the world. Tax cuts adds to the the consumer spending tariffs takes it away.
Total chaos is coming.
No it's leaving, the market was way stronger with Trump everyone knows this.
@@johnniewalker3029 The market is not an indicator of a strong economy.
We are about to go into a hyperinlationay depression that leads us right into a deflationary depression.. or said another way stagflation like the world has never seen. Orange boy just makes that happen faster and be way worse. I think IQs have dropped significantly ... in fact, I am counting on it.... sadly.
unless you are a welfare case, you will do better under Trump.
“Everyone knows this.” It’s wild to watch people so confidently stupid make statements like this.
No editing and brolls needed. Simply stick some slides to better explain the words and that’s more than enough! Those brolls from shutterstock just don’t make a lot of sense especially when used over and over again across many channels.
Great job !
I’m cashing out.
Trump has said "economic growth during his term will take care of the these (social security) funding issues"?? You mean, like the 2017 TCJA was going to lead to a GDP growth rate of over 4% (didn't happen) and pay for itself due to increased government revenue (another nope)? Yeah, no one should hold their breath on that one. Note to self: "Have lots of cash ready to dump into T-bills when the Fed raises interest rates to 1980s levels to combat tariff-induced inflation."