Words of Wisdom: 3 Money Experts’ Takes on Trump’s Tariffs — and Whether You Should Worry
Written by
Travis Woods
Edited by
Amen Oyiboke
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In the wake of President Donald Trump’s shockingly steep tariffs levied against all of America’s trade partners, followed by retaliatory tariffs from those other countries (as well as multiple unpredictable pauses to Trump’s tariffs), the American stock market has resembled nothing less than a rollercoaster ride of late, with drastic ups and downs — including the most precipitous drop since the COVID-19 summer of 2020.
With such tariff-related insecurity permeating the finance world, it’s worth asking — should you be worried? Should stockholders sell? Should investors panic?
At least three major money experts have a very simple answer to all of the above questions: No.
Personal finance expert and founder of Ramsey Solutions, Dave Ramsey recently paid a visit to Fox Business, where he made one thing clear — if the stock market is a rollercoaster, the only people who are going to get hurt during this tumultuous period are the people who jump off in the middle of the ride.
“Calm down,” Ramsey assured investors during his interview. “You didn’t lose your money. You don’t lose anything until you sell. Just ride the coaster, pan back and look at the bigger picture: Where do you really believe America is gonna be five years from now? Oh, a lot better off than we are today.” Ramsey’s biggest take on the instability caused by the Trump tariffs is that the markets will stabilize, and the only people who will be hurt in the long term are those who panic and sell.
“You didn’t lose your money,” he reiterated. “I hear people say all the time, ‘I lost all my money!’ No, you didn’t. You may have lost 20% of it, but only if you sold.” Ramsey argued that those who weather the storm — or the rollercoaster — will stabilize when the markets stabilize. He finished by paraphrasing Warren Buffett, noting again that as long as you don’t sell off your stocks, you haven’t lost anything.
Popular financial advisor and author, Suze Orman, made a similar pronouncement, making clear that anyone beset with portfolio worries needs to avoid panic and maintain consistency regarding their investments.
As she noted on Facebook, “If you are contributing to a retirement account, do not stop. Stay the course. Keep investing steadily. That consistency is your power.” Further, Orman maintains that logic is needed to make market decisions, with no emotions. “Stay diversified. Don’t get angry. Stay smart.”
Finally, CNBC noted that Lee Baker, owner of Apex Financial Services and a certified financial planner, offered similar advice. “Don’t panic and make some crazy rash decision that veers away from your game plan,” he asserted.
Should you worry about Trump’s tariffs and their impact on the stock market and your retirement portfolio? You almost certainly should be concerned and informed. Panic, however, is what to avoid. Additionally, Ramsey, Orman and Baker all agree — stick to your diversified investment plan, don’t sell in a panic and don’t hop off the rollercoaster in the middle of the ride.
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