US EditionRetirees ‘stunned' as market turmoil over tariffs shrinks their 401(k)s
- President Donald Trump announced a 10% tax on foreign imports, impacting supplies critical for businesses like Chris Bennett's print shop, which faces a 24% cost increase for materials.
- The new tariffs have already led to sharp declines in stock markets, with the S&P 500 closing down 6%, negatively impacting 401 retirement accounts for many Americans.
- Michigan's largest public companies collectively lost $11 billion following the announcement of the tariffs, as market capitalization dropped significantly.
- Americans nearing retirement expressed anxiety over their diminished savings and the potential long-term effects of the tariffs, with many considering delaying big purchases.
127 Articles
127 Articles
Susan Estrich: When the going gets tough
What do you do when the economy is going to hell, 401(k)s are going down the toilet and we're bracing for higher prices on nearly everything? If you're an average American, you worry. If you're Donald Trump, you go golfing, as he did twice last weekend, even as people took to the streets in every major city in the country to protest his policies. And if you're a Republican senator, you stay up half the night to push through a budget bill that pr…
Changing jobs can disrupt saving for retirement. Here's how to stay on track. - Overpasses For America
Read more: Retirement planning: A step-by-step guide analysis by the nonpartisan Employee Benefit Research Institute (EBRI). So having eight to 10 jobs over your career is likely, Craig Copeland, director of wealth benefits research at EBRI, told Yahoo Finance. Read more: How much should I contribute to my 401(k)? institutional pricing for the investments,” Scott said. “So they’re cheaper than the fees you might pay on the exact same mutual fun…
‘I am having nightmares.’ Florida seniors anxious over the economy
From community centers in Pembroke Pines to neighborhood coffee shops in Hollywood to the lively pickleball courts of Delray Beach, Florida seniors are voicing strong emotions as they navigate the economic turbulence.
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