Are you still thinking about how to prepare your finances for a Donald Trump presidency? Financial experts have some simple advice: Don’t let your emotions dictate your investments.
It’s easy to get caught up in predictions about what will happen to the stock market, interest rates and taxes under Trump’s administration. However, predictions are usually wrong, said Brandon Corso, executive director of financial planning at Edelman Financial Services.
You don’t want to let emotions guide how you handle money — regardless of whether you’re worried or excited about what will happen the next four years. “Both groups are going to do themselves a great disservice if they let that impact how they live their lives or invest their money,” he said.
Instead, focus on what you can control. “Make this all about you,” said Charles C. Scott, a financial planner and co-creator of Scottsdale-Ariz.-based FinancialChoicesMatter.com. “Since no one can predict what’s going to happen — never have been able to, never will be able to — you need to focus on your personal economy and not the national or global picture.”continue reading »