Why: House and Senate need to resolve all differences to get a bill passed by year end.
This site is intended to be neutral as far as politics are concerned. However, tax reform and investing go hand in hand. There is so much talk about this bill in the media right now that it is important for the personal finance community to discuss it. When senators pop up on everyone’s television talking about sweeping tax reform people start to get nervous.
I am a big believer in not letting the tax tail wag the dog. In my opinion no one should be getting worked up about these changes to the point of shifting around any major investing strategy. Long term consistent strategies regardless of policy are what will make you the most money. If you have a sound plan in place that has been working for you stick with it. There will be ups, and downs with any plan and it is important that you stay the course.
I am very interested to hear everyone’s opinion. Feel free to get after it in the comments and speak your mind. Are any of you worried that you will be affected in a big way (as far as your investments are concerned)? Is anyone going to try to time the market? Personally, I plan on staying with my strategy regardless of the changes. My guess (for what it is worth) is that the market will become much more volatile as we head into 2018.
My words of advice would be to make sure you learn what is happening but do not let it freak you out. This to shall pass stick with the strategy that has gotten you to where you are today and continue to build wealth.
What Are Your Thoughts?
- Are you hoping the tax bill gets pushed through?
- What parts of the tax bill do you favor?
- What parts of the tax bill do you oppose?