How Tariffs and Immigration May Impact Your Finances

Anyone paying attention wants to understand how the proposals for tariffs and immigration may impact their finances. The answer is a billion-dollar nugget. If implemented, these proposals will impact everything from the cost of goods to how much money we can save to the solvency of Social Security and Medicare. And while there is no guarantee of what will happen, today we dive into insight to help you create a plan and best prepare for what may lie ahead.

Specifically, you will learn what a tariff is, how to prepare for their impact based on your spending patterns, and how immigration reform may also impact you and your family’s financial plan.

In this episode, you will learn:

>>  (5:51) One of the most searched topics post-election (This is a big one!)

>> (6:48) How tariffs work and what they may cost you

>> (9:42) Understanding the tariff proposal on imports from Canada & Mexico

>> (12:50) Why imports are essential to the U.S.

>> (17:18) Which tariffs will impact you and your family, and the potential cost

>> (19:47) What China exports to the US (How much more you may pay for their imports!)

>> (23:33) Some positive impacts of tariffs

>> (33:10) Understanding immigration and what it may cost you and your family

If the proposed tariffs and immigration reforms come to fruition, they will impact many aspects of your life, including your spending, savings, and retirement.

The best recommendation is to create a flexible plan that you can adjust based on what actually happens. If you start spending less and saving more, you will win regardless of what occurs.

Today’s episode will help you and your loved ones create a plan that will help you secure your financial future.

Links Referenced in the Show:

The Retirement Planning Checklist: https://themillionaireinsider.com/rpc

Get your Free Financial Checkup: https://themillionaireinsider.com/fc

Show notes and more information: https://themillionaireinsider.com/87

This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.