Suze Orman advises that the best financial decision to make at present is.

Many individuals are excited to set new goals and modify their lifestyles during the New Year, frequently concerning financial matters.

If a new year and a new presidential administration coincide, some people may feel a stronger urge to take action to safeguard or expand their wealth after the inauguration.

Suze Orman advised in a LinkedIn post that the best financial move one can make is to not make any hasty decisions about money. It is important to avoid making decisions based on fear, worry, or excitement about potential outcomes.

It is tempting to believe you can predict the future of the stock market and economy based on politics and financial news. However, the truth is that no one can accurately forecast the future. Therefore, relying on speculation to achieve financial success is unlikely to be successful.

""Financial decisions based on speculation are not advisable, as we are uncertain about the potential effects of Washington's actions on your household's financial stability in 2025," Orman stated."

Think long-term to make major money decisions

The individual seated in the Oval Office has the ability to affect various financial factors that impact you. American presidents can bring about alterations in tax laws, healthcare reforms, and the cost of imported goods.

No matter where you go, it's unlikely that you can completely protect yourself financially.

Instead of focusing on short-term news or predictions, it is more beneficial to consider big decisions, such as relocating investments, purchasing significant items like a car or a house, or changing jobs, in relation to your personal objectives.

It may be the right time to make a major financial move in January, but only if you have thoroughly researched and planned it.

Avoid ending up with regrets

In 2021, Robert Giametta and Christopher Luquer discovered that purchasing a home based on a financial intuition was not a wise decision. They initiated their search in 2020 during the Covid-19 pandemic when mortgage rates were low and home prices had not yet escalated.

Giametta recently told CNBC Make It that she believed if they didn't purchase a house now, they might not be able to do so in the future. The couple bought their home in upstate New York in January 2021.

They had begun to regret their purchase by the next summer, as they were both working remotely and felt isolated from their friends. In the end, they realized they would have rather owned a home in a livelier area like Boston or Seattle, even if it would have come with a higher price tag.

Despite regretting their purchase, they learned a valuable lesson in financial decision-making. They plan to complete renovating the house and eventually sell it.

Giametta stated that although it wouldn't be enjoyable, she believed that if we proceeded cautiously in the next step, we would avoid another regret.

Patience and a thorough comprehension of all the information, regardless of your feelings, are crucial when it comes to investing in a home or adjusting your stock portfolio.

Orman advised taking time, staying informed, and making decisions based on facts and long-term goals.

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