Judging by his cabinet choices, his tweets and many of his campaign promises, President-elect Donald Trump seems hellbent on changing the economy to make sure it works not only for those on the coasts but also for those in middle of the country.

As the details of Trump's plan begin to leak out, his course of action may not only affect unemployment, wages and the broader economy, but it could negatively impact people's retirements -- if they're not careful.

Yields on the 10-year U.S. Treasury have surged since the election, sitting near 2.4%, up from 1.88% just prior to the election. Much of that rise in yields has been due to the anticipation of rising inflation caused by a Trump administration, as it looks to spend money on infrastructure projects, while also cutting taxes on many Americans.

In doing so, it's impacted bond prices (prices and yields move in opposite directions), leading some strategists to think that they may negatively impact high dividend paying stocks, if yields continue to rise.

"I think as Treasury yields approach the 3% level that we are closer to a tipping point than ever," said Christian Magoon, CEO of Amplify Investments. "One caveat is that stocks with significant dividend growth potential may be able to still retain the type of appeal we have seen for dividend stocks the last 8 or so years."

Many older investors look for dividends to be a source of income and returns to help fund a lifestyle that is suited for them in retirement. With the average dividend yield on the S&P 500 below 2%, thanks in part to rising stock prices, there is the potential for investors to pull out of dividend stocks until the yields are more attractive again.

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