For many Americans, planning for retirement may feel like a daunting financial goal.
Now, there’s another risk on the horizon that may stoke their worries — the 2024 elections.
Almost half of investors — 45% — surveyed by Nationwide Retirement Institute believe next year’s presidential and congressional contests will have a greater impact on their retirement plans and portfolios than market performance.
More than two-thirds — 68% — of Republican investors believe the election outcome will have a direct and lasting impact on the stock market, versus more than half — 57% — of Democratic investors.
The online survey, which was conducted in August, included 2,404 investors ages 18 and up, as well as 507 financial advisors and other professionals.
The results also showed respondents believe the stakes are high for the economy, with nearly 1 in 3 respondents — 32% — believing the economy will fall into a recession if the party they do not support wins.
Older investors are most fearful because of the lasting impact a recession may have on their retirement. Pre-retirees ages 55 to 65 are more concerned about an economic downturn and inflation, the results found. And, one-third, or 33%, of that cohort are managing their investments more conservatively ahead of the 2024 election, compared to 31% of non-retirees.
The online survey, which was conducted in August, included 2,404 investors ages 18 and up, as well as 507 financial advisors and other professionals.
The results also showed respondents believe the stakes are high for the economy, with nearly 1 in 3 respondents — 32% — believing the economy will fall into a recession if the party they do not support wins.
Older investors are most fearful because of the lasting impact a recession may have on their retirement. Pre-retirees ages 55 to 65 are more concerned about an economic downturn and inflation, the results found. And, one-third, or 33%, of that cohort are managing their investments more conservatively ahead of the 2024 election, compared to 31% of non-retirees.