Americans nearing retirement and recent retirees are feeling anxious and frustrated as the global economy reels from President Donald Trump’s tariffs, causing market turmoil that is affecting their 401(k)s. Many are concerned about the impact on their quality of life and retirement savings. Some are pausing big-ticket purchases and reconsidering their spending habits.
Trump’s decision to impose sweeping tariffs has ignited fears of a global trade war and sent the stock market into a tailspin. Millions of Americans are watching as their retirement funds diminish along with the stock market. Trump has defended his tariffs, saying they will bring back jobs and help the U.S. economy, but critics argue they will lead to higher prices for consumers.
Some Americans, like Paula, a retired occupational health professional, are living with anxiety about their financial future. Others, like Alison Carey, a freelancer in the theater industry, feel their economic stability is being played with. One in five Americans age 50 and over have no retirement savings, and more than half are worried they won’t have enough money to support themselves in retirement.
As the stock market continues to fluctuate, many Americans are calling on lawmakers to put more checks and balances on the president’s policies. They are also being cautious with their spending and monitoring their retirement accounts closely. The uncertainty caused by Trump’s tariffs has left many retirees wondering when their funds will run out and how their quality of life will be impacted.
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