Elections and taxes intertwine with your personal investments more than most people realize.

Most everyone has investments of some kind, and each of us chooses how closely we watch the growth of our investments. Many investments, such as a 401(k), are designed to be tax free today, but you will pay taxes on them when you receive the money as part of your retirement.

Recently, we saw how in one year the amount of estate taxes can change to zero. Without a doubt, taxes are paid on the income you make, whether you spend it or not. Of course, if you spend all or part of your income you will pay more taxes, usually in the form of sales tax or income tax. 

Many changes have occurred since the last U.S. presidential election. In fact, that was the main slogan -- change -- that everyone ran with as a vision. I have heard the comment many times now: “So how is that change working for you?” 

I do not like politics. I am fortunate that my father follows politics. He can sit through and listen to both sides debate about topics and issues. For me, it is just too frustrating, depressing and sounds a lot like arguing. 

Fortunately, we work together well as a team so I use my dad as a filter. That way, I can focus on the positive for my clients.  

The point is that we all need to be informed as to what is going on around us and how “change” affects our personal lives. Whatever your political views, I encourage you to look into the next election and what each candidate promises to do for you and the country.

Pay attention to these topics in the next election cycle, as they will likely affect your investment strategies: federal debt, energy policy, dividends tax, capital gains tax, estate tax, health care costs, federal flat tax, social security, Medicare and immigration.

Information in this column is not intended to be specific advice for anyone. You should use the information to help you work with a professional regarding your specific financial goals.