Politics tops Americans' list of money fears, financial planners say. How you can protect yourself

Group 1 - A CFP Board survey indicates that politics is the top money-related fear for Americans at 46%, surpassing concerns about inflation (39%), market stability (34%), and rising healthcare costs (33%) [1] - Political fears among financial planners are largely driven by uncertainties regarding tax policy changes and the implications of tariffs, particularly related to President Trump's proposed legislation [3] - Consumer confidence has been declining, with the Conference Board's Consumer Confidence Index dropping for the fifth consecutive month, reflecting negative assessments of business and labor market conditions [4] Group 2 - Experts caution that reacting impulsively to political news can harm long-term financial outcomes, emphasizing the importance of avoiding knee-jerk reactions to headlines [5] - Despite increased political stress, 80% of CFPs report that their clients still expect to achieve long-term financial goals, highlighting that financial stability relies on solid planning rather than political forecasts [6] - Successful investors focus on long-term strategies rather than short-term market fluctuations caused by political events, as fundamentals ultimately drive performance over time [7]