Could Biden Be Bad for Your Retirement Account? Wall Street Begins To Worry

Democratic Challenger Joe Biden holds a double-digit lead over President Trump in most polls. While polls aren’t foolproof and can’t tell us what will definitely happen in November, it’s enough for some people to start to worry.

While many corporate leaders support Democratic causes, they’ve been all-too-happy to enjoy the lower regulations and lower taxes ushered in by the Trump administration. If Biden wins, and especially if he leads a sweep of both Houses, Wall Street could be facing an uphill battle for years, which could hurt the markets and the retirement accounts of many investors.

From Goldman Sachs to Credit Suisse, investment firms are warning clients to get ready. If Biden wins, they expect lower corporate profits in the years ahead, which should translate into falling share prices.

But not everyone is convinced.

Adam Crisafulli, founder of Vital Knowledge, said:

The markets “aren’t focused too much on this issue at the moment.  Part of this is a function of 2016, where polls also signaled a Trump defeat for most of the year (although Biden’s lead now is far ahead of where Clinton was at this point in 2016).”

He also points out that investors know things could be very different by November, especially if we get a treatment for COVID-19, more stimulus spending, and it looks like the recovery is taking hold.

Still, with the Nasdaq at record highs, investors wouldn’t be completely irrational if they protected some of their profits… just in case.

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Comments (9)

  1. Edna Glenn Freeman

    We are not ready for retirement, just yet, everyone is, and Biden isn’t bad for our retirement, anyways I’m still working at my job and basically anyone will save their money for their retirement if enough to save !!

    • J Barbara Alvord

      Unsubscribe, please. You are very biased.

  2. Esther

    Biden fought for cutting social security during his senate years. I don’t want to take a chance he’ll do that.

  3. Barbara Ervin

    Joe Biden is a threat to this country from all sides.The sociaist demoncraps MUST be stopped at all cost. If I were a multimillionaire I would gladly donate to stop them dead in their tracks!

  4. Robert M Liu

    If history is any guide, the stock market investors community certainly prefers a pro-business political party like the GOP. For instance, in late 1994, after the GOP became the majority party in the House of Representatives, stocks immediately started to rise. First, the Dow Jones Industrial Average broke above the 4000 level. Then, it passed the 5000 mark by the end of 1995. Besides, then-president Bill Clinton was more cooperative with the GOP, totally unlike today AOC Jaconins. Again, after the GOP retook the House from Nancy Pelosi in late 2010, the stock market first stabilized and then started to rise towards the previous all-time high of 14,000. As of this moment, the market seems to continue to expect a Trump victory in November. Traditionally speaking, the collective I.Q. of the investors community is very high. If it stays bullish up to the election day, I would bet on a Trump re-election victory.

  5. The Shadow Knows

    I take care of people with Dementia. Biden is already progressing to a stage where he will need 24/7 continuous care. I anticipate all sorts of angry, negative comments. However, the truth is the truth. Watch the steady decline in memory. I feel sorry for Biden and anyone else that has to go through this decline. Maybe both Democrats and Republicans could at least come together to find research to end this tragedy so those of us reading this now are not its next victim!

  6. Brenda Pfaff

    Biden and the Democrats will kill our retirements just to make theirs bigger. Vote Trump or lose all you have gained in the last 3 years.

    • Robert Nettles

      AMEN brother, The Democrats want to erase all of the good work that Trump has done and I for one am still voting for Trump,

  7. Al Lohn

    Biden and the democrats in office would be an absolute disaster.

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