“But over the longer term, it will be much more difficult to predict how either a Trump or Hillary Clinton presidency will affect economies and shape financial markets around the globe,” Ms Slattery said.

“[This] is why it is critical trustees adhere to their long-term investment strategies and don’t have a kneejerk reaction to the election.”

Ms Slattery said while it is important to keep track of events that affect financial markets and retirement savings, it is also crucial to remember that superannuation is for the long-term and short-term decisions can do more harm than good.

A good investment strategy that keeps trustees disciplined and focused on the long term is essential, she said.

“An excellent example of this was the market volatility post-Brexit, with the decision by UK voters to leave the European Union in June having an immediate and momentous impact on financial markets across the globe,” Ms Slattery said.

“But post-Brexit the markets have settled down. Indeed, some economists and market commentators are seeing some positives in the UK’s decision to leave the EU. In the same vein, SMSF trustees should not make any hasty decisions post the US presidential election.”

Ms Slattery said SMSF practitioners should take this time as an opportunity to discuss investment strategies with their clients to ensure they are still applicable to the client’s long-term retirement goals.