What now?

[rugorak]

So I am putting this hear instead of off topic because I am concerned on the financial side of the election for myself.

I work in higher education. In IT so theoretically could get a job elsewhere. But I really like where I work. We do important work serving primarily adult learners. We are a non-profit and do not have a very large endowment.The GOP and Trump have basically said they want to cut education spending. Less grants, no more federal loans, etc. I am honestly afraid many schools who are not blessed with gigantic endowments will be forced to close. They basically want us to be the bank and college.
https://www.insidehighered.com/news/2016/05/13/trumps-campaign-co-chair-describes-higher-education-policies-being-developed

Then my girlfriend works in medical research for a non-profit research hospital/college. All indications are he would cut most spending on science. Since her position is dependent upon research grants and most of those for any research originate from the federal government chances are her lab will be closed once their current grant runs out. (She does research on cancer if anyone cares. So it isn't something trivial.) And she is potentially in a similar boat as me since if none of the students can afford to go without loans then the PhD she works under could potentially get cut from teaching which would also close the lab. (We do not work at the same college either)
https://www.statnews.com/2016/06/13/donald-trump-hillary-clinton-medical-research/

Both of these do not bode well for us. Especially when you throw in the ACA being scrapped as my girlfriend does have some pre-existing conditions (one of them is just being a woman). Even if we were married (we will eventually just hasn't been a priority for us) she still could be denied coverage. Even I could be denied coverage for some things. We were planning on buying a house next year too (which would make getting married a priority just so people don't dwell on that). As of right now we have scraped the house idea.

So other than hanging tight and saving as much as possible is there anything else people would recommend? I really feel like this is setting us back years (on many levels).

[bye-bye Ms. FancyPants]

I'm sorry things feel so unsure for your house right now. I do feel your pain. I work for the VA which he has promised to "tear down".  My husband works for a union company and after last night, our state is now on track to become right to work. Who knows what that will mean for our future healthcare and pension. My plan, save like crazy, set myself up to be marketable if he makes good on his promises, and hope for the best. If the worst comes true, you/we will find a way. I don't know you personally, but I do know the mustachian community are, if nothing else, creative and resilient.  Hang in there my friend.

[ooeei]

First off, remember that while you should plan for bad situations, don't stew on them and let them control you.  Workers in all sorts of industries have to deal with similar issues of uncertainty, so you can do it too. 

For now, focus on saving and doing really well at your jobs, along with expanding your skillset where possible.  Since you're in IT, you shouldn't be too worried.  Yes, you may have to go to a new job that isn't quite as fun, but sometimes shit happens.  For all you know your new job will be really interesting and great.  You're in a great career path for changing industries, I wouldn't stress too much.  Also keep in mind that it's entirely possible that the election won't affect your jobs for years or at all. 

As for your girlfriend, she can start looking around at jobs in the private sector and figuring out where she might like to go.  If you truly think her funding will be cut, it's better to be the first person to leave than the last.  There are numerous pharmaceutical companies in the United States, I'm sure she could find a job somewhere that has IT jobs as well.

I believe Trump has publicly said he wants to keep the pre-existing conditions portion of the ACA, so try not to stress too much about that either.  Just try to take a few deep breaths, relax, and kick ass at life.  If you've got a decent monetary buffer and some valuable skills (which you seem to have), you should be able to handle just about anything.  Keep in mind many of his campaign promises were sparse with details, so once it comes down to it he might not have an alternative for the ACA, and try to improve it a bit.  His victory speech already showed a very different demeanor than we saw in any part of the election.  He's not going to hit the giant "self destruct" button in the oval office his first day in the Whitehouse.  Hopefully.

[ChpBstrd]

So far, 100% of the early information regarding the election has been proven false. It is bold to suggest we have a clue what happens next.

[frugaldrummer]

I believe Trump has publicly said he wants to keep the pre-existing conditions portion of the ACA,

You can't keep the pre-existing condition portion without a mandate for everyone to buy insurance, it simply doesn't work financially.  He MIGHT put in something that says if you are CONTINUOUSLY COVERED that they can't exclude you for a pre-existing condition if you change plans.  This doesn't help the poor schmuck who loses his job and can't afford to pay the COBRA while he has no income coming in, and then can't get back into any insurance because of pre-existing conditions (I saw this happen a LOT in the pre-Obamacare days).

[JAYSLOL]

So I am putting this hear instead of off topic because I am concerned on the financial side of the election for myself.

I work in higher education. In IT so theoretically could get a job elsewhere. But I really like where I work. We do important work serving primarily adult learners. We are a non-profit and do not have a very large endowment.The GOP and Trump have basically said they want to cut education spending. Less grants, no more federal loans, etc. I am honestly afraid many schools who are not blessed with gigantic endowments will be forced to close. They basically want us to be the bank and college.
https://www.insidehighered.com/news/2016/05/13/trumps-campaign-co-chair-describes-higher-education-policies-being-developed

Then my girlfriend works in medical research for a non-profit research hospital/college. All indications are he would cut most spending on science. Since her position is dependent upon research grants and most of those for any research originate from the federal government chances are her lab will be closed once their current grant runs out. (She does research on cancer if anyone cares. So it isn't something trivial.) And she is potentially in a similar boat as me since if none of the students can afford to go without loans then the PhD she works under could potentially get cut from teaching which would also close the lab. (We do not work at the same college either)
https://www.statnews.com/2016/06/13/donald-trump-hillary-clinton-medical-research/

Both of these do not bode well for us. Especially when you throw in the ACA being scrapped as my girlfriend does have some pre-existing conditions (one of them is just being a woman). Even if we were married (we will eventually just hasn't been a priority for us) she still could be denied coverage. Even I could be denied coverage for some things. We were planning on buying a house next year too (which would make getting married a priority just so people don't dwell on that). As of right now we have scraped the house idea.

So other than hanging tight and saving as much as possible is there anything else people would recommend? I really feel like this is setting us back years (on many levels).

Trump has been nothing if not an inconsistent flip-flop sort of candidate.  Not sure how much of what he says or wants will really happen or change to something else once he becomes president.  Hopefully you guys pull through ok whatever happens.

[RedwoodDreams]

So I am putting this hear instead of off topic because I am concerned on the financial side of the election for myself.

I work in higher education. In IT so theoretically could get a job elsewhere. But I really like where I work. We do important work serving primarily adult learners. We are a non-profit and do not have a very large endowment.The GOP and Trump have basically said they want to cut education spending. Less grants, no more federal loans, etc. I am honestly afraid many schools who are not blessed with gigantic endowments will be forced to close. They basically want us to be the bank and college.
https://www.insidehighered.com/news/2016/05/13/trumps-campaign-co-chair-describes-higher-education-policies-being-developed

Then my girlfriend works in medical research for a non-profit research hospital/college. All indications are he would cut most spending on science. Since her position is dependent upon research grants and most of those for any research originate from the federal government chances are her lab will be closed once their current grant runs out. (She does research on cancer if anyone cares. So it isn't something trivial.) And she is potentially in a similar boat as me since if none of the students can afford to go without loans then the PhD she works under could potentially get cut from teaching which would also close the lab. (We do not work at the same college either)
https://www.statnews.com/2016/06/13/donald-trump-hillary-clinton-medical-research/

Both of these do not bode well for us. Especially when you throw in the ACA being scrapped as my girlfriend does have some pre-existing conditions (one of them is just being a woman). Even if we were married (we will eventually just hasn't been a priority for us) she still could be denied coverage. Even I could be denied coverage for some things. We were planning on buying a house next year too (which would make getting married a priority just so people don't dwell on that). As of right now we have scraped the house idea.

So other than hanging tight and saving as much as possible is there anything else people would recommend? I really feel like this is setting us back years (on many levels).

Having similar thoughts today, and trying not to get too discouraged just yet. 2 of 3 in my family have pre existing conditions. Hopefully I'll be able to get 18 mos of cobra from my ex employer, and after that ????  Let's see how it plays out. Puzzled over how many would willingly give up health insurance for all. Some day it could be them being uninsurable.

[Cerastez]

I am in the same boat.  I am afraid that losing the ACA will blow my budget.  I am retired and I have a relatively small nest egg, so my budget is pretty tight.  I still have years to go before I qualify for medicare. 

[Metric Mouse]

I believe Trump has publicly said he wants to keep the pre-existing conditions portion of the ACA,

You can't keep the pre-existing condition portion without a mandate for everyone to buy insurance, it simply doesn't work financially.  He MIGHT put in something that says if you are CONTINUOUSLY COVERED that they can't exclude you for a pre-existing condition if you change plans.  This doesn't help the poor schmuck who loses his job and can't afford to pay the COBRA while he has no income coming in, and then can't get back into any insurance because of pre-existing conditions (I saw this happen a LOT in the pre-Obamacare days).

The ACA hasn't worked financially since it was implemented. Why should it be held to a higher standard now?

[CarrieWillard]

So far, 100% of the early information regarding the election has been proven false. It is bold to suggest we have a clue what happens next.

This.
Anyone read any Nassim Taleb?

[ooeei]

I believe Trump has publicly said he wants to keep the pre-existing conditions portion of the ACA,

You can't keep the pre-existing condition portion without a mandate for everyone to buy insurance, it simply doesn't work financially.  He MIGHT put in something that says if you are CONTINUOUSLY COVERED that they can't exclude you for a pre-existing condition if you change plans.  This doesn't help the poor schmuck who loses his job and can't afford to pay the COBRA while he has no income coming in, and then can't get back into any insurance because of pre-existing conditions (I saw this happen a LOT in the pre-Obamacare days).

I'm not trying to predict what his plan is, I'm just saying I don't have reason to believe he'll totally dismantle the ACA and give a big middle finger to everyone with pre-existing conditions, like a lot of people seem to think he will.  As for what he does to change it, your guess is as good as mine.

[crazyworld]

I believe Trump has publicly said he wants to keep the pre-existing conditions portion of the ACA,

You can't keep the pre-existing condition portion without a mandate for everyone to buy insurance, it simply doesn't work financially.  He MIGHT put in something that says if you are CONTINUOUSLY COVERED that they can't exclude you for a pre-existing condition if you change plans.  This doesn't help the poor schmuck who loses his job and can't afford to pay the COBRA while he has no income coming in, and then can't get back into any insurance because of pre-existing conditions (I saw this happen a LOT in the pre-Obamacare days).

I'm not trying to predict what his plan is, I'm just saying I don't have reason to believe he'll totally dismantle the ACA and give a big middle finger to everyone with pre-existing conditions, like a lot of people seem to think he will.  As for what he does to change it, your guess is as good as mine.

Yeah we don't know, but this is the same person who denied money from an inheritance to his own nephew with cerebral palsy (please someone google the story for exact details) - so I would have to assume he is the kind of person that says if you are not strong (which is the same as wealthy), you are worth nothing.  I am not holding my breath for a just and fair administration.  If they come through, what a lovely surprise.

[deadlymonkey]

You are focusing on the wrong person.  It almost doesn't matter what Trump wants.  For at least 2 years, Paul Ryan and Yertle can and will push through almost anything they want.  They will get at least 1 supreme court justice.  I just hope that RBG stays healthy.  If the Dems can take the senate in 2 years (haven't looked at races yet to see if possible) they can stall another vacancy (if the R's can stall for 1 year, the D's can stall for 2).  Look at Paul Ryan's ACA replacement because that is what you will get.  (hint:  exactly what you have before the ACA, but you can have an HSA if you earn enough to put money in there)

[ChpBstrd]

The political left is in decline in democracies worldwide. Europe, Brazil, the UK, etc. Now the US is a one-party nativist, semi-theocratic state, on a path toward a Turkish or Russian outcome, with one dominant party and a scattered, disorganized opposition.

I think this is a long-term change, because the left has reached its ideological point of self-destruction. Extreme individualism discourages group identity, and without that you don't get the infrastructure right-wing parties can organize, or the willingness to sacrifice on an individual level. Leftists can organize protests, but not enduring institutions (see Occupy "movement").

We can expect US economic growth to approximate the outcomes of similar systems for at least the next few years. The days when you could just buy an index fund and multiply 2-4% GDP growth by corporate leverage are over.

The US will catch many colds in the near future, which makes emerging markets even more at risk of getting the flu - even those EMs who are executing well. Developed markets whose exports are tied to economic growth (e.g. Japan, Canada, Australia, S. Korea, China) will be constrained by the growth of their US end client.

With both bonds and real estate at nosebleed levels, I'm challenged to find a rationale for anything, which probably means it's time to sit in cash. That adds years to my path to ER, but keep in mind Jacob at Early Retirement Extreme spent the majority of his five-year path to ER hoarding in a bank account!

In my case, 3.67% is my mortgage rate, and my risk-free rate of return. Years ago, I swore I'd never, ever prepay a dime at such a low rate, but now I'm not so sure it isn't my best risk-adjusted option. I could move funds into my mortgage and then have a pre-approved HELOC lying in wait in case a 2008 style market crash created better opportunities.

It might also be a good time to invest in educational upgrades that would make me more compeitive during the dark days ahead.

[ooeei]

The political left is in decline in democracies worldwide. Europe, Brazil, the UK, etc. Now the US is a one-party nativist, semi-theocratic state, on a path toward a Turkish or Russian outcome, with one dominant party and a scattered, disorganized opposition.

I think this is a long-term change, because the left has reached its ideological point of self-destruction. Extreme individualism discourages group identity, and without that you don't get the infrastructure right-wing parties can organize, or the willingness to sacrifice on an individual level. Leftists can organize protests, but not enduring institutions (see Occupy "movement").

We can expect US economic growth to approximate the outcomes of similar systems for at least the next few years. The days when you could just buy an index fund and multiply 2-4% GDP growth by corporate leverage are over.

The US will catch many colds in the near future, which makes emerging markets even more at risk of getting the flu - even those EMs who are executing well. Developed markets whose exports are tied to economic growth (e.g. Japan, Canada, Australia, S. Korea, China) will be constrained by the growth of their US end client.

With both bonds and real estate at nosebleed levels, I'm challenged to find a rationale for anything, which probably means it's time to sit in cash. That adds years to my path to ER, but keep in mind Jacob at Early Retirement Extreme spent the majority of his five-year path to ER hoarding in a bank account!

In my case, 3.67% is my mortgage rate, and my risk-free rate of return. Years ago, I swore I'd never, ever prepay a dime at such a low rate, but now I'm not so sure it isn't my best risk-adjusted option. I could move funds into my mortgage and then have a pre-approved HELOC lying in wait in case a 2008 style market crash created better opportunities.

It might also be a good time to invest in educational upgrades that would make me more compeitive during the dark days ahead.

Quite the fortuneteller you are, I'll be interested to check back on this in a few years if I remember and see if you're right. 

[frugalnacho]

The political left is in decline in democracies worldwide. Europe, Brazil, the UK, etc. Now the US is a one-party nativist, semi-theocratic state, on a path toward a Turkish or Russian outcome, with one dominant party and a scattered, disorganized opposition.

I think this is a long-term change, because the left has reached its ideological point of self-destruction. Extreme individualism discourages group identity, and without that you don't get the infrastructure right-wing parties can organize, or the willingness to sacrifice on an individual level. Leftists can organize protests, but not enduring institutions (see Occupy "movement").

We can expect US economic growth to approximate the outcomes of similar systems for at least the next few years. The days when you could just buy an index fund and multiply 2-4% GDP growth by corporate leverage are over.

The US will catch many colds in the near future, which makes emerging markets even more at risk of getting the flu - even those EMs who are executing well. Developed markets whose exports are tied to economic growth (e.g. Japan, Canada, Australia, S. Korea, China) will be constrained by the growth of their US end client.

With both bonds and real estate at nosebleed levels, I'm challenged to find a rationale for anything, which probably means it's time to sit in cash. That adds years to my path to ER, but keep in mind Jacob at Early Retirement Extreme spent the majority of his five-year path to ER hoarding in a bank account!

In my case, 3.67% is my mortgage rate, and my risk-free rate of return. Years ago, I swore I'd never, ever prepay a dime at such a low rate, but now I'm not so sure it isn't my best risk-adjusted option. I could move funds into my mortgage and then have a pre-approved HELOC lying in wait in case a 2008 style market crash created better opportunities.

It might also be a good time to invest in educational upgrades that would make me more compeitive during the dark days ahead.

Quite the fortuneteller you are, I'll be interested to check back on this in a few years if I remember and see if you're right.

Yea if we aren't all dead by then!

[Crushtheturtle]

The political left is in decline in democracies worldwide. Europe, Brazil, the UK, etc. Now the US is a one-party nativist, semi-theocratic state, on a path toward a Turkish or Russian outcome, with one dominant party and a scattered, disorganized opposition.

I think this is a long-term change, because the left has reached its ideological point of self-destruction. Extreme individualism discourages group identity, and without that you don't get the infrastructure right-wing parties can organize, or the willingness to sacrifice on an individual level. Leftists can organize protests, but not enduring institutions (see Occupy "movement").

We can expect US economic growth to approximate the outcomes of similar systems for at least the next few years. The days when you could just buy an index fund and multiply 2-4% GDP growth by corporate leverage are over.

The US will catch many colds in the near future, which makes emerging markets even more at risk of getting the flu - even those EMs who are executing well. Developed markets whose exports are tied to economic growth (e.g. Japan, Canada, Australia, S. Korea, China) will be constrained by the growth of their US end client.

With both bonds and real estate at nosebleed levels, I'm challenged to find a rationale for anything, which probably means it's time to sit in cash. That adds years to my path to ER, but keep in mind Jacob at Early Retirement Extreme spent the majority of his five-year path to ER hoarding in a bank account!

In my case, 3.67% is my mortgage rate, and my risk-free rate of return. Years ago, I swore I'd never, ever prepay a dime at such a low rate, but now I'm not so sure it isn't my best risk-adjusted option. I could move funds into my mortgage and then have a pre-approved HELOC lying in wait in case a 2008 style market crash created better opportunities.

It might also be a good time to invest in educational upgrades that would make me more compeitive during the dark days ahead.

Quite the fortuneteller you are, I'll be interested to check back on this in a few years if I remember and see if you're right.

Yea if we aren't all dead by then!

I heard Trump wants to start nuclear war because it amuses him! He's going to get us all killed! Such fear! Much terror! Exclamation mark!

[rugorak]

Thanks for most of the replies. It helps to know I am not the only one.

Honestly I am not immensely worried about me and my girlfriend overall. Chances are she would have to get out of the field. Pharma labs are cut-throat and not worth the stress for her. Plus it would require major relocation which she really doesn't want to do. But she doesn't make huge bucks. And she has lots of other skills. She is treasurer for the Animal shelter she volunteers at. She has written grant proposals for them as well (which have been awarded). She also does web work on the side from time to time (but mainly just for the shelter). And we could survive on just my income. It will more slow us down. Sure if a war is started all bets are off. But if the worst is like the George W. Bush years it is just going to slow us down a bit.

[Metric Mouse]

The political left is in decline in democracies worldwide. Europe, Brazil, the UK, etc. Now the US is a one-party nativist, semi-theocratic state, on a path toward a Turkish or Russian outcome, with one dominant party and a scattered, disorganized opposition.

I think this is a long-term change, because the left has reached its ideological point of self-destruction. Extreme individualism discourages group identity, and without that you don't get the infrastructure right-wing parties can organize, or the willingness to sacrifice on an individual level. Leftists can organize protests, but not enduring institutions (see Occupy "movement").

We can expect US economic growth to approximate the outcomes of similar systems for at least the next few years. The days when you could just buy an index fund and multiply 2-4% GDP growth by corporate leverage are over.

The US will catch many colds in the near future, which makes emerging markets even more at risk of getting the flu - even those EMs who are executing well. Developed markets whose exports are tied to economic growth (e.g. Japan, Canada, Australia, S. Korea, China) will be constrained by the growth of their US end client.

With both bonds and real estate at nosebleed levels, I'm challenged to find a rationale for anything, which probably means it's time to sit in cash. That adds years to my path to ER, but keep in mind Jacob at Early Retirement Extreme spent the majority of his five-year path to ER hoarding in a bank account!

In my case, 3.67% is my mortgage rate, and my risk-free rate of return. Years ago, I swore I'd never, ever prepay a dime at such a low rate, but now I'm not so sure it isn't my best risk-adjusted option. I could move funds into my mortgage and then have a pre-approved HELOC lying in wait in case a 2008 style market crash created better opportunities.

It might also be a good time to invest in educational upgrades that would make me more compeitive during the dark days ahead.

Quite the fortuneteller you are, I'll be interested to check back on this in a few years if I remember and see if you're right.

Yea if we aren't all dead by then!

I heard Trump wants to start nuclear war because it amuses him! He's going to get us all killed! Such fear! Much terror! Exclamation mark!

Well that's good. Here I was worrying about silly things like who he was going to nominate to the supreme court or if he might offend the President of Mexico.