Unless you’ve been hiding in North Korea, you’ve probably know a little about the US presidential election that Donald Trump has been campaigning for a long time now.
Most of the information probably revolves around the crap he spews every time they put a mike in front of him.
What some of my friends consider to be the worst case scenario has happened today.
Donald Trump has won the presidential race and is now the President of the United States.
Without a doubt, everyone is going to be talking about the election results today. As the results surfaced in Google, there’s was five minutes of buzz in the office from colleagues discussing about the results. A mere five minutes! That’s right, everyone got back to work and the world continues to spin.
As a regular employee in a multinational corporation striving for FIRE (Financial Independence and Retiring Early), let me offer four contrarian reasons about why I think the impact of the US presidential election result isn’t going to have a big impact on your retirement strategies.
Donald Trump wants to move jobs back to the United States and kudos to him if he manages to do that and get more Americans employed.
Global companies set up shop in Singapore to establish a regional presence in Asia and their Singapore offices primarily functions as a regional hub to connect to countries in Asia. Nothing has changed.
There’s no compelling reason for your global office to shut down regional offices just because Donald Trump is President of the United States.
In fact, your regional office is probably more important now than ever because Asia may be the only region that is bringing in the revenue.
So continue working and squirrelling away your savings as planned for FIRE.
What you need to know is that if the government announces that the Singapore economy is down, it means that in reality, the Singapore economy has been heading south for quite a while.
Through my contacts, I’ve been hearing news about how many startups are dropping like flies, small and medium enterprises in Singapore are suffering and how it’s harder to generate new revenue nowadays.
If you haven’t been managing your expenses and making adjustments, it’s definitely a good time to start.
Europe is already in a mess. Donald Trump as the new President of the United States will bring a lot of uncertainty into the country.
Global investors will have nowhere to turn to except Asia and Singapore will have a high chance to be in the center of everything.
With more foreign investment potentially on the table, I’m confident that Singapore will be able to tide through this rough patch.
We’ve had two major events this year. Brexit and the US presidential elections. If you were swayed by emotions on hopes that Britain would remain in EU and Hillary Clinton would win the presidency, you would have gotten caught by market sentiments by making irrational decisions.
Personally, I’m comfortable with my current retirement strategy and don’t see the need to make any drastic changes just because of the US presidential election. There’s no reason to panic.
What are your thoughts about Donald Trump being the new President of the United States?