Business
It’s possible we could have another contested election result and won’t know a winner for a while. What happened to the market last time that happened? The 2000 race between George W. Bush and Al Gore took 5 weeks to sort out. During that time between election day and New Year’s Day, the market dropped 7.8%. If you plug that into today’s market numbers, it would be a drop over 2000 points. We’re going to take you back in time: Do you remember anything special that happened around this time (10/22) in 1986? President Ronald Reagan signed a major tax reform bill into law. Among other things, it lowered the top income tax rate from 50% to 28%. Unfortunately, it was not permanent. Since then, Congress has raised the top rate to 37% … and it looks like more tax hikes may be on the way. So, I’m guessing this might be a good time to consider having a tax strategy for our retirement? The time to act is NOW. With the Election days away, big changes are coming - one way or another. Get prepared TODAY! Call John for a Complimentary Consultation!