What Trump’s Election Could Mean for Your Retirement

We’ve seen it all as teachers, haven’t we? New curriculums, shifting policies, and, of course, political changes that sometimes leave us scratching our heads. Well, buckle up, because with the recent election of Trump, it’s time to start thinking about how the next few years could impact your retirement plans as a NYS educator.

Let’s get real about what could happen and why it matters right now:

1️⃣ Potential Cuts in Education Funding 💸

Under Trump’s leadership, we might see a shift in federal priorities that could lead to cuts in funding for public education. Less funding often translates to larger class sizes, fewer resources, and increased stress in the classroom. While you might be a pro at adapting to change, these conditions can have a significant impact on your career longevity, health, and, importantly, your final average salary (which is crucial for calculating your pension!).

2️⃣ Will Your Final Average Salary Take a Hit? 📉

Your NYSTRS pension is based on your final average salary, which is usually calculated using your highest-earning years. If we start seeing budget cuts, wage freezes, or restrictions on contract negotiations, your potential earnings in those critical final years could be impacted. This would mean a lower pension than you may be anticipating. It’s time to ask yourself: Is my retirement plan prepared for this possibility?

3️⃣ What About Investment Returns? 📈💲

With Trump’s election, there are bound to be changes in economic policy, tax structures, and regulations that could affect market performance. While markets can be unpredictable, political shifts like this often lead to volatility. And if you’re counting on your 403(b), Roth 403(b), or other investment accounts to supplement your pension, we need to consider how these fluctuations might impact your portfolio.

The truth is, as educators, we’re used to rolling with the punches and adapting on the fly. But when it comes to your retirement, you can’t afford to take a “wait and see” approach. A strong financial plan is proactive, not reactive.

Let’s Make Sure Your Plan is Election-Proof! 🛡️

I’ve been a teacher for 30+ years, as well as a financial advisor so I know the unique challenges we face in the education sector. I’ve also navigated countless political and economic shifts, helping teachers like you secure the retirement they deserve.

Now is the time to take a hard look at your retirement strategy and make sure it’s built to withstand whatever changes may come. If you have questions or just want a second opinion, I’m here to help.