The Election Year and its Impact on Your Personal Finances

The Election Year and its Impact on Your Personal Finances

The relevance of the election year of the president and the economy of the country is quite an evident issue. As a matter of fact it has made a direct impact on the issue of your personal finance. It has been noticed that popular candidates competing for the designation of the president cast a positive impact on economy and personal finance. The reverse might happen if the electoral process revolves round some unpopular figures. It might trigger volatility in the market. This is the main reason why it is catching the attention level of various segments of the society. Whether it's Barrack Obama & Joe Biden or Mitt Romney & Paul Ryan, the 2012 Presidential Race will make an impact. 

Presidential election has always made a direct impact on crucial issues such as mutual funds, housing finance, IRA's, as well as a crucial component of your personal finance which is known as 401(K). The presidential election casts an impact on the GDP growth.  Since the electoral process there has been noticed a little growth in the job sectors of the country. It ultimately makes an impact on the aspect of personal finance. Let’s take the crucial facets into consideration. Here is an introspective look into some of these most crucial issues which are associated with your personal finance.   

Mutual funds in US after presidential election

Mutual funds are definitely a vital part of the entire finance planning of an individual. Every individual has some specific schemes as well as long term goals which are associated with these mutual funds.  At the same time there are some other crucial aspects which are closely linked with this issue. 

As a matter of fact stock markets as well as mutual funds do get a strong impact during the electoral process as well as after the election of the president. The rates of interests, the mode of services as well as policies related to taxation issues do get affected in a way. You might experience some changes in the rules and regulations pertaining to safety bonds and ETF as well. The election process for president ship might have a strong impact on the performance of stock market. Therefore a presidential election is a crucial issue for the stock investors.

IRA’S

IRA’S happen to be a crucial component of the personal finance related to every individual. This particular term refers to ‘Individual Retirement Arrangement’. IRA or Individual Retirement Arrangement’ does play a very important role in the aspect of personal finance of every individual as government provides a great deal of tax reimbursement as well as other benefits based on IRA. As a matter of fact, IRA is a great way of retirement savings for the citizens of the United States. A presidential election is supposed to cast an impact on the IRA because of the changes which are going to be made in the taxation policies, services as well as rules and regulation.

401 (K)

There seems to be a positive impact on 401(K) after the electoral process is over. 401(k) is considered to be a very important aspect or feature in the personal finance of American citizens. This particular term is associated with retirement savings. As a matter of fact, you need to be extremely cautious in maintaining these accounts. As part of this particular savings facility employees do get the advantage of putting in a considerable percentage of their income into individual accounts. The recent percentage of rates on these accounts is to some extent conducive to the growth of individual economic status.