Retirement

5 Ways the Election Results May Affect Your Retirement

by TheStreet.com Nov 5th 2012 10:30AM
voting retirementBy Matthew Malone

NEW YORK (TheStreet) -- Between all the debating, advertising and robocalls, it can be difficult to focus on the many everyday parts of life that will be affected by a Romney presidency or Obama re-election. When it comes to finances, for most of us "Big Bird" and "big government" are less important than the things, big and small, that will influence the way we spend and save.

Retirement planning, of course, is among the most important elements of a sound financial plan, so it's critical to understand how the incoming administration's policies will make that more or less secure.

Here are the five most important ways the results of this election could make our golden years more -- or less -- so.



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70 Comments

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GERANNIE

I am sick to my stomuck about four more years with this guy. Just wait till you see the stock market tomorrow! i see Colorado leagalized marjuanna. All the movie stars want to move there. Maybe they can move the white house with them. Pray for this country.

November 07 2012 at 2:47 AM Report abuse +1 rate up rate down Reply
freethedems2012

God is punishing us for murdering his unborn. His will be done.

November 06 2012 at 8:47 PM Report abuse +1 rate up rate down Reply
freethedems2012

Re-elect me 'cause I'm your friend.
I'll try that Social-ism again.
I'll spend until we're out of debt.
Then I'll spend some more, you bet.
I am just a spending fool.
Vote for me 'cause idiots rule.

If you want to live in a Socialist/Communist country,
vote for Obama.

November 06 2012 at 6:02 PM Report abuse +1 rate up rate down Reply
mapgar1391

I WORK AT THE RAIL ROAD ...MANY PEOPLE MIGHT NOT KNOW IT BUT IF I MAKE IT TO RETIREMENT I WOULD GET A RAIL ROAD RETIREMENT PENSION ...WHICH IS SOLEY FUNDED BY THE RAILROAD WORKERS AND THE RAILROAD COMPANIES THE GOVERMENT DOES NOT IN ANY WAY CONTRIBUTE TO MY RETIREMENT THEY JUST MANAGE THE MONEY AND I ALL HAVE TO PAY INTO SOCIAL SECURITY AND MEDICARE SO US RAILROAD WORKERS ARE PAYING IN JUST ABOUT DOUBLE IN TAXES OR DEDUCTIONS ...NOW THIS ROMMNEY / RYAN WANTS TO STEAL RAILROAD WORKERS PENSIONS AND PUT IT INTO SOCIAL SECURITY ...THIS IS RIDICUOLUS AS IT IS NOT THE GOVT OR THE AVERAGE TAXPAYERS MONEY IT IS SOLEY FUNDED BY THE RAIL ROAD WORKERS AND RAILROAD COMPANIES PERIOD THIS IS FLAT OUT THEFT AS THEY [BORROWED ] FROM THE PENSION FUND IN THE PAST AND NEVER PAID A DIME BACK...AS THE RAILROAD PENSION FUND IS VERY SOLEVENT THESE POLITICIANS JUST SEE DOLLAR SIGNS

November 06 2012 at 5:39 PM Report abuse -1 rate up rate down Reply
1 reply to mapgar1391's comment
freethedems2012

Under Obama it will all be gone anyway.

November 06 2012 at 5:58 PM Report abuse +2 rate up rate down Reply
boowah

What a bunch of "Horse Pucky" If you elect Obama , Medicare will not be touched, only the waste paid to providers that are gaming the system. If you elect Romney , you get vouchers that won't even come close to covering your medical expenses, that is if providers even take them! If you elect Obama, Social Security will most likely be made solvent by taking the cap off the earnings limit. Elect Romney, and you lose your Social Security on the next Market plunge! If you elect Obama, your investments may not soar in value, but at least you won't lose them. Elect Romney, and initally your investments will soar until they jigger with the tax code and our credit rating goes to junk. Then watch out! They'll be no bottom at 6,000 this time!

November 06 2012 at 5:24 PM Report abuse -2 rate up rate down Reply
1 reply to boowah's comment
freethedems2012

It is nice to believe the lib spin but not realistic. Obama is killing America.

November 06 2012 at 5:59 PM Report abuse rate up rate down Reply
Leonard

I losyt a lot under Bush in 2005-2008 but have done great under Obama. I would not have been able to retiure without his leadership.

November 06 2012 at 5:10 PM Report abuse -2 rate up rate down Reply
1 reply to Leonard's comment
freethedems2012

LOL. Is that you Evan?

November 06 2012 at 5:59 PM Report abuse +1 rate up rate down Reply
parisiassociates

Should President Obama win a second term- it will be the end of democracy. Our democratic form of government will be torn apart and destroyed. Obama truly believes the American people can't do it on their own, it needs the Government to create the jobs, not the private sector. Back in the 50's he'd be called a communist. Remember his desire is "the distribution of wealth", everyone earns the same and is the same. Their is no reward for for success. When this happens our form of government will no longer exist.

IF YOU HAVEN'T VOTED VOTE ROMNEY- TO SAVE THE FUTURE OF OUR CHILDREN AND GRANDCHILDREN!

November 06 2012 at 3:43 PM Report abuse +2 rate up rate down Reply
1 reply to parisiassociates's comment
freethedems2012

AMEN

November 06 2012 at 4:12 PM Report abuse +1 rate up rate down Reply
Richard

Neither candidate has said ANYTHING about eliminating foreign aid. Since we have to borrow 40 cents on every dollar, eliminating this HUGE monkey on our back would help. At the very least eliminate it - but if we are going to continue borrowing, at least put that revenue toward helping AMERICANS and let the rest of the world go fish!

November 06 2012 at 3:25 PM Report abuse +4 rate up rate down Reply
shalebrook

An Obama reelection will harm retirees' incoemebecause it will high dividend yield producing retirement stocks such as utility stocks at the ordinary income rate rather than the gains rate. this is aroughly a 20% higher tax rate irrespective of your tax bracket. Thank you, Obama for screwing our Seniors a second time-first with your $716 billion switch of funds into Obamacare and now with this. . What a sidewinder he is.

November 06 2012 at 2:08 PM Report abuse -2 rate up rate down Reply
2 replies to shalebrook's comment
luckycur

Uou happen to be wrong on the issue of 716 billion coming from Medicare. Take the time to read the plan, that money for the most part comes from lowering payments to underperforming hospitals. At present 17% of the total cost of Medicare comes from patients being re-admitted to the hospital within 30 days after surgery. Those underperforming hospitals will be penalized, and thus the savings, there will be no cuts to services or care under Medicare. As for Capital gains, I earn a little over $226,000 yearly, almost $20,000 per months on interest and dividents, think its right I pay less than many of my former employees who are still working?

November 06 2012 at 3:13 PM Report abuse +1 rate up rate down Reply
1 reply to luckycur's comment
freethedems2012

Obama shill, unluckycur.

November 06 2012 at 4:13 PM Report abuse rate up rate down
Tom

Are you a troll? I ask because you write like one. My first clue was when you said that Obama's re-election would harm the income of retirees. Secondly your gibberish about tax rates, etc, ad nauseum. Lastly your comment about "screwing seniors a second time with regards to switching funds in to Obamacare. I say this because it sounds like it comes from none other than the Romney play book. Like Romney, you haven't cited one single example and further like Romney, it's not likely that you will.

November 06 2012 at 5:44 PM Report abuse rate up rate down Reply
greenliks

FINALLY !! only 11 more hours and all this B.S. election stuff will be off the airwaves and maybe i ll get a human voice on my phone instead of a pre recorded gov't seeking bozo. regarding the deficit...we, our children and grand children probably will never see a balanced budget in their lifetimes. the US spends one trillion more dollars than it currently takes in. the deficit is currently over 16TRILLION $....last year the fed took in 2.3 trillion in total taxes from citisens and corporations( who mainly don t pay anywhere near what they should) so it would take 6+ years to pay off, maybe 8 with accumulated interest, and thats if they stopped paying out everything!!
that is rediculous, preposterous and fully IMPOSSIBLE. thanks alot to all the morons the US has had in office for the last 12 years. you are killing america !

November 06 2012 at 1:34 PM Report abuse rate up rate down Reply