3 Money Moves To Consider Now That You’ve Heard Trump’s State of the Union and the Democratic Response
Written by
Sean Bryant
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
President Donald Trump’s 2026 State of the Union address discussed several issues that could affect how you save for retirement and budget for everyday expenses, as reported by the New York Times.
The policies discussed could have a major impact on taxes, the price of goods and your investment returns. Here are three money moves you should consider making based on President Trump’s State of the Union speech.
Prepare for Potential New Retirement Options
One of President Trump’s key talking points was potential new retirement savings options. He wants to create 401(k)-style retirement accounts for workers who do not have access to traditional employer-sponsored plans.
The main selling point of these accounts is that the U.S. government will match contributions, up to $1,000 per year.
If these accounts become law, they will open up new savings opportunities for millions of American workers. However, if you’re already contributing to 401(k) or IRA plans, you should continue taking advantage of any employer match and then consider whether this new option affects your contribution strategy.
“Millions of Americans do not have access to a workplace plan and this expansion could provide a pathway to savings for low- and moderate-income workers that was not previously available to them,” said Zachary Mineur, chartered financial analyst (CFA), certified financial planner (CFP), chief investment officer at Independence Square Advisors.
“I suggest that for folks who may qualify, start working the $85 per month savings into their budget now. This is the amount they would need to contribute to earn the $1,000 match,” Mineur added.
Prepare for Continued Price Volatility
President Trump defended his tariff policies, calling them a key driver of economic growth. He also claimed the affordability crisis is behind us; however, many economists don’t see it that way, according to the BBC.
As President Trump seeks additional options to implement tariffs, Americans should prepare for continued price volatility, especially on imported goods. This means paying close attention to how much things actually cost.
Tariff uncertainty will also affect investors. Diversification will be important, especially if you have exposure to industries with high import volumes.
Have a Stock Market Reality Check
President Trump’s speech claimed America has entered a “Golden Age” of economic growth. He highlighted that his administration had defeated inflation, that job growth was alive and well and that the stock market was reaching new highs.
However, if recent volatility in the stock market is any indication, you should make sure you’re rebalancing your portfolio to avoid being overweight in any one sector.
Additionally, even though President Trump has said the economy is booming, it’s crucial to remember sound personal finance advice. Budgeting is crucial, along with building a solid amount of savings while avoiding high-interest debt.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
