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By David Scranton, Founder, Sound Income Strategies The country has a new president, a president whose economic views differ greatly from his predecessor in many ways. What does this mean for you and how will the Biden Presidency impact your retirement? With all of the new changes going on, you may be asking If Investing Should Be Part of Your Retirement Plan. What Does a Biden Presidency Mean for Your Retirement Plan? President Biden’s proposed changes to 401(k) retirement savings plans would have a major impact on the tax break provided to plan participants. If the plan were to become law, the tax deduction for contributing to a 401(k) would be replaced with a tax credit. This change would likely result in high earners getting less of a tax break on their 401(k) retirement savings, with low- and middle-income earners getting a bigger tax benefit.

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