I know that DU has to have some financial guru's here. What is your advice for the next year?

[Ferrets are Cool]

Asswipe will be riding on the coattails of a very good economy when he is inaugurated. I fully expect that to fade within a year.
What is the advice coming from knowledgeable financial people?
If the dollar is going to be destroyed by this administration, what should normal American's do to somewhat protect themselves financially.
This worries me greatly.

[elleng]

1. Check

https://www.democraticunderground.com/?com=forum&id=1121

[Ferrets are Cool]

3. Thank you. I wasn't aware of this forum.

DU has so many pleasant surprises.

[gab13by13]

2. The bond market may be in trouble.

[bucolic_frolic]

4. Diversify and hedge your bets

Have full confidence in your financial institutions. I want banks in well-regulated states, not in lax ones. I want sound advisors, if I use one. Watch insurance levels if you have that problem. Multiple banks, FDIC, SIPC limits.

The US dollar? Advisors recommend silver and gold etfs, and foreign, global etfs. Perhaps oil and commodity (resources) funds.
No one can protect you against market risk and timing. Leveraged short and long funds are designed to chew your capital.
Inflation is now a risk again. Trump doesn't care about inflation. He will say it's not happening, and many will believe him when eggs are $1 each.

Have some $ in things that grow fast in a fast economy, that participate in growth. There are large cap growth funds, there are stocks that are in their growth faze. Think Apple, Amazon, Google in 2010. AI is a trend. If it's not your expertise, get a stock broker, or an AI ETF.

Just my observations from readings and what I'm thinking with markets at all time highs.

[in2herbs]

7. None of that advice is any good unless you understand discretionary investment authority. nt

[bucolic_frolic]

9. Well it's good advice for me, I follow it, and am happy with it. /nt

[oldmanlynn]

5. The economy will do very well the first trump year

Not because of trump but because of potential tax cuts and lifting of regulations to go with a already great economy will amp up the economy before anything bad happens. So keep your money in your 401ks for at least the next couple years

[GreatGazoo]

6. Interest rates will come down

The market will rise. If you have money in high interesting savings accounts (5.0%), you could think about moving some of it into the market or CDs because high interest savings accounts have already started to drop rates.

For the market the safest plays (mid to long term) are always SPY, QQQ and other broad index funds that diversify your holdings easily.

For monthly dividends I like covered calls (renting out the stocks as you own them). Pays 12% annual; 1% per month so $10,000 gets you $100/month in dividends. QYLD is an ETF that makes it very easy to do that while holding a diverse, managed portfolio that indexes the top 100 NASDAQ stocks.

https://finance.yahoo.com/quote/QYLD/

Talk to a relative or friend that you trust and who has done well. Beware of panic, fear and hyperbole. Good luck.

[Ferrets are Cool]

8. Thank you for the reply.