As I write this on Monday, it appears that President Trump’s
and the Senates Republicans’ attempts to repeal (and potentially replace)
Obamacare have failed. By the time you read this, though, that may certainly
change. For if there is one thing this story has taught us, it is that there is
little one can count on during contentious political times.
Heck, it’s not like passing the Affordable Care Act was an
easy thing even when the Democrats were in power during (slightly) less
contentious times.
Getting into the political debate over the issue is not
necessary or proper for this spot. If you want blogs that do that, you can find
enough of them to keep you occupied until … well forever most likely as it is
not likely this battle is end sanytime soon. From the moment Trump was elected,
though, questions abounded as to how one’s tax picture would change if our
country’s current health care plan went away.
Those questions were plentiful, and possible answers to
those questions were probably more plentiful. Note though that they were only
possible answers at the time and seem ever less likely to be possible the
longer it takes for this saga to play out. It is impossible to say that
prognostication plays no part in the financial world (the stock market is run
by it in some way, after all), but it really should only go so far.
After all, if anyone made any significant changes because
they were certain changes were coming in their company’s obligations concerning
health insurance, they are hurting now as they roll back some numbers to what
they were before any of this predicting began.
In here are many lessons …
First, work only from the numbers that are definite in your
reporting. I have warned against fudging such things in an optimistic way
before, for no matter how glass half-full you want to be, dealing with real
numbers is what will allow you to get to the point where you can feel great
because things are actually great.
Second, just as you have to work with real numbers, you have
to work with real situations. If things happen in the political realm that
suddenly improve your situation, celebrate that bonus when it happens. Counting
on serendipity, however, is not sound financial advice.
Third, understand the timing of the political world. Things
felt like they were going to completely change when Trump was elected, as it
symbolized a great new world for some and a feared new world for others. Both
sides, however, would now have to admit that whatever hopes or horrors they saw
coming did not come to pass as quickly as felt possible at the moment. One must
look to the future to be successful, but dealing with the present takes
precedence.
Finally, try to keep your political views separate from your
financial ones. You may wish that things were different than they are, but
those wishes will not change your legal obligations. Be active in the political
world if there is change you want to help enact, but concede that you must
operate in the world as it now is.
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