Thursday Nov 14, 2024

Tariffs, Tax Cuts & Immigration: Financial Forecasting For 2025

This week, Phil and Marc dive into the potential financial impacts of tariffs, tax cuts, and immigration policies following the 2024 election. While early speculation should be taken with caution, they’ll discuss what could be in store for 2025. With changes in policy possibly affecting everything from taxes to housing, the duo breaks down what these shifts could mean for your financial future.

Throughout this conversation, Phil stresses the importance of sticking to your financial plan until the dust settles. As we move forward, it’s crucial to stay focused, maintain your long-term strategy, and be patient as we navigate this evolving landscape.

Here’s some of what we discuss in this episode:

0:00 – Intro

2:00 – A Tax Cuts and Jobs Act extension?

5:51 – Corporate tax rate and Social Security tax proposals

8:12 – Tariffs and their economic impact

13:33 – Immigration and it’s economic implications

17:17 – Having a long-term vision

Helpful resources for this conversation:

https://time.com/7095898/donald-trump-economy-plan-2024/

https://www.npr.org/2024/11/06/nx-s1-5181327/trump-election-economy-tariffs-deportations

https://wellsfargo.bluematrix.com/links2/html/5fd93977-359f-4bff-8db1-42935f3e8f45

Get our Tax-Smart Retiree book: https://www.thetaxsmartretireebook.com/welcome