NBC News - Trump has said tariffs will force businesses to relocate manufacturing and production back to the U.S.,
but the more immediate impact was felt by millions of Americans who saw
their retirement funds diminish along with the stock market.
“I looked at my 401(k) this morning and in the last two days that’s lost $58,000. That’s stressful,” said Victor Fettes, 54, who retired last week as a senior director of risk management and compliance at Verizon. “If that continues, I can’t stay retired.”
One in five Americans age 50 and over has no retirement savings, and 61% of Americans are worried they won’t have enough money to support themselves in retirement, according to an AARP survey published last April.
Trump’s tariffs, which are steeper and more widespread than any other in modern American history, have encouraged some retirees to hold out on big-ticket items.
"We can’t change anything right now, except our spending," said Paula, 68, a former occupational health professional who retired three years ago. Read the full story here.
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