Keep your financial plan on track amid election uncertainty

The 2026 midterm elections are still a few weeks away, but some investors are already making financial moves in anticipation of the outcome. According to new data from the Nationwide Retirement Institute^®, 40% of investors say they've made changes to their retirement savings or portfolio ahead of November.

Our survey also found that 75% of investors believe the election outcome could meaningfully impact their long-term financial plan. While it's natural to have questions about what November could mean for your finances, election uncertainty alone isn't necessarily a reason to change course.

Before making a move based on an election outcome you can't predict, consider whether that decision aligns with your long-term goals. A financial professional can help you separate election-related concerns from your financial priorities and make decisions based on your individual needs, regardless of the outcome.

Before changing your investments, consider what’s driving the decision

When election headlines raise questions about the economy and financial markets, it can be tempting to take action simply for the sake of taking action. But before you act, it's worth asking yourself a more important question: Would you be considering the same decision if there weren't an election coming up?

Our survey shows that some investors aren't waiting until November: 15% have moved money into more conservative or lower-risk investments in anticipation of the midterms, while 13% have diversified into different asset classes or sectors.

Making a change isn't necessarily the wrong choice, but it's important to understand what you might be giving up in return. For example, lower-risk investments may offer greater stability when markets fluctuate, but they may also have less potential for growth over time. And if you move money out of the market in anticipation of a downturn, you could miss some of the recovery when conditions improve.

Still, sometimes taking a new approach makes sense. Perhaps you're nearing retirement and want to protect savings you'll need to support your lifestyle. Or maybe your current investment mix no longer reflects the amount of risk you're comfortable taking. These are meaningful reasons to revisit your strategy, regardless of the election.

While elections can create uncertainty, long-term market performance has historically been driven more by fundamentals than politics. If you're contemplating a financial move, consider talking it through with a financial professional before taking action. They can help you understand what you stand to gain, what you might give up, and whether the change addresses a longer-term financial need or a temporary concern about the election. You may discover there's a good reason to make an adjustment, or that staying the course is a better decision after all.

Separate policy concerns from financial decisions

There's no shortage of policy issues competing for voters' attention this election season. Our survey found that several are top of mind for investors across party lines:

• Social Security reform: 42%
• Trade and tariff policy: 36%
• Healthcare and prescription drug costs: 33%
• Tax policy and potential changes to tax rates: 29%
• Federal spending: 28%

It's worth paying attention to the issues that matter to you, but being concerned about what may happen because of the election doesn't necessarily call for a change to your financial strategy.

Sure, some of these issues may have direct implications for your finances. For example, a change in tax law could affect how much of your income you get to keep. Social Security reform could matter down the road if you expect those benefits to provide a meaningful share of your retirement income. But until you know what, if anything, will actually change, you may find that sticking to your current approach makes the most sense for now.

A better place to start is with what you already know about your own finances. How much are you saving? How much income will you need in retirement? How much risk are you comfortable taking with your investments? And have any of those changed for reasons other than the upcoming election? Focusing on the factors within your control can help keep your long-term goals at the center of your decisions, independent of any election outcome.

Keep in mind, the goal isn't to prepare for a particular election outcome. It's to make long-term financial decisions based on your needs, priorities, and circumstances.

Keep your financial plan focused on your long-term goals

There's no single right response to election uncertainty. What makes sense for you depends on your goals, how close you are to retirement, your financial situation, and how comfortable you are with investment risk. Rather than letting uncertainty about the election dictate your next move, focus on the fundamentals of your financial plan.

• Revisit your goals. Think about whether you have had any life or financial changes since you last reviewed your plan. A new job, a change in income, or a shift in your retirement plans may be more relevant to your financial decisions than what happens in November.
• Take another look at your investments. If you're considering a change, ask yourself if it's because you're worried about what may happen after the election, or your portfolio genuinely no longer matches your goals and comfort level with risk.
• Review your plan regularly. Instead of waiting for an election, market swings, or another event to prompt a closer look, consider reviewing your plan periodically with a financial professional. These check-ins can give you an opportunity to adjust as your goals, financial situation, tax laws, or other circumstances change.

You can't control what happens in November, but you don't have to let election uncertainty take control of your financial decisions. A financial professional can help you understand your options and make changes prompted by personal circumstances, not political predictions.