Half of Americans Expect 2025 Election to Impact Their Personal Finances
With the 2025 U.S. presidential election on the horizon, half of Americans anticipate that the election results will influence their spending, saving, and investment decisions.
Key Insights
- As the 2024 U.S. presidential election nears, 50% of Americans believe the outcome will directly affect their personal financial situation.
- Many expect changes in their ability to spend, save, and invest based on who becomes the next president.
- Voters also foresee impacts on their stock market investments and retirement plans tied to the election results.
With the upcoming 2024 U.S. presidential election, half of the American population feels the election’s outcome will have a meaningful effect on their financial wellbeing.
According to a recent survey by financial advisory firm Empower, one in two Americans believes the election will influence their financial status, and nearly 25% think the winner could determine their wealth prospects.
Given the challenges of high inflation and rising borrowing costs, economic concerns have taken center stage in this election cycle. A Pew Research Center poll from earlier this month found that 81% of voters consider the economy a crucial factor in choosing the next president.
The Next President’s Influence on Affordability and Savings
About 42% of Empower’s survey participants expect to see their financial resources increase or decrease depending on the election outcome.
One-third anticipate their capacity to spend, save, and invest will fluctuate. Additionally, 41% plan to boost their emergency savings contingent on who assumes the presidency.
With a slowing job market and rising housing costs causing concern, many Americans worry whether their income will allow them to purchase a home. However, 33% believe the incoming president will make homeownership more affordable, and 57% think the election winner will influence the job market.
Election’s Impact on Investments and Retirement
Nearly one-third of respondents feel the next president will affect their retirement timeline and financial security.
Opinions vary on the election’s effect on retirement: over 25% fear they may never retire, while 29% anticipate increased retirement savings.
Regarding the stock market, more than half agree that election uncertainties affect market performance. Depending on the results, nearly 25% plan to increase stock investments or adjust their asset allocation.
Have a news tip for our reporters? Contact us at tips@investopedia.com
Explore useful articles in Personal Finance News as of 11-06-2024. The article titled " Half of Americans Expect 2025 Election to Impact Their Personal Finances " offers in-depth analysis and practical advice in the Personal Finance News field. Each article is carefully crafted by experts to provide maximum value to readers.
The " Half of Americans Expect 2025 Election to Impact Their Personal Finances " article expands your knowledge in Personal Finance News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.