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Title: 7 Ways Your Retirement May Change in 2025 (Good and Bad)

Retirement planning is entering uncharted territory as Trump's policies bring both opportunities and challenges for over 50 million U.S. retirees:Investment risk: The Retirement Security Rule requires that financial services providers be fiduciaries to their clients under federal pension law. A fiduciary must act in the best interest of their clients. Given Trump’s previous repeal of a similar law, there’s a strong possibility of another rollback, exposing retirees to the possibility of poor investment recommendations.Higher nursing home costs: 6.9% of home health aides and 4.4% of personal care aides are undocumented immigrants. 142,000 work in the care economy. With their deportation, seniors can expect higher long-term care costs due to labor shortages. Yehuda Tropper, a life settlement expert, stated, “I have been hearing worry from seniors and their caregivers in nursing homes about the coming shakeup. Similar to agricultural work, many caregiving jobs are ones Americans simply won’t do.”Decreased Social Security funding: DOGE cost reductions, the Republican Study Committee’s “flat benefit” proposal, and elimination of taxes on Social Security benefits would all reduce program funding. This could lead to reduced benefits and increased wait times for new Social Security applications. However, Trump has pledged not to cut Social Security funding.Lower tax rates: Extension of the 2017 Tax Cuts and Jobs Act would continue low tax rates, enabling greater retirement savings and making Roth IRA conversions more advantageous.Stock market rally: Planned corporate tax reduction to 15% might boost stock market performance, benefiting retirement accounts. The same is true of Trump’s promise of “fully expedited approvals and permits” for companies or people who i...

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