How the 2024 Election Results Will Impact Your Financial World

Advance Your Wealth With Homer Smith

On the latest episode of Advance Your Wealth, we dive into the market’s reaction to the recent election results, exploring whether the response was in line with expectations or presented surprises. We discuss the reduced pre-election volatility, the modest post-election market increases, and what this might signal for future trends.

Our conversation delves into the anticipated economic and policy changes under a Trump administration with a Republican-controlled Congress. Key topics include:

• Extensions to Trump-era tax reforms, including the 199A Qualified Business Income Deduction and corporate tax rates.
• Potential adjustments to estate tax exemptions and their implications for wealth management.
• The future of Opportunity Zones and how they might evolve.
• The administration’s strategy for funding tax cuts, including proposed tariffs and their potential economic impacts.

We close by addressing how to navigate these complex changes. Our guest, Homer, shares strategies for cutting through the noise and helping clients make informed decisions during major transitions.

Chapters:

0:00 - Introduction

1:53 - The stock market's response

4:11 - Notable tax law changes

9:21 - Estate tax exemptions

11:50 - Trump's plan to pay for tax cuts

15:21 - Dealing with uncertainty

18:00 - How to contact Homer and his team

18:54 - Closing remarks