Episode 09: Planning Through the Panic - Tariffs, Trade, and Your Portfolio
In this episode of Retirement Roadtrip, we tackle the topic of tariffs, economic fear, and how investors can remain confident through uncertain times. With recent headlines stirring anxiety about trade policy and consumer confidence, Greg and Tom break down what tariffs really mean, how history can help us put things into perspective, and what steps you can take to protect your financial future. Whether you're worried about market volatility or trying to make smart moves near retirement, this episode offers clarity and encouragement when the headlines feel overwhelming.
Understanding the Impact of Tariffs and Economic Fear
(00:09) What Tariffs Really Mean
How tariffs affect global trade.
Countries that overuse tariffs may find others “go around” them
Tariffs can be legitimate tools to protect emerging industries, but unfair demands often backfire.
(03:35) Trump’s Tariff Strategy: Negotiation and Positioning
Tariffs are part of Trump’s effort to bring manufacturing home and address national debt.
Trump sees everything as a negotiation—most statements are opening bids, not final plans.
Short-term pain (higher prices) may lead to more equitable global trade in the long run.
Historical Context: We’ve Been Here Before
(06:05) Learning from the Past
Every generation has faced major financial and geopolitical crises—resilience is part of the American story.
From the Great Depression to 9/11 to the 2008 financial crisis, we’ve always bounced back.
“There’s never a good time”—so don’t let fear paralyze your planning.
Steps to Stay Grounded as an Investor
(08:10) Meet with a Financial Advisor
Ask: Has anything truly changed in my situation?
Evaluate your asset allocation—are you invested appropriately for your age and goals?
If you're 65, you shouldn’t be investing like a 25-year-old with an aggressive portfolio.
(10:11) Rowing vs. Sailing: Adjusting Expectations
In strong markets, you can just “put up the sail” and grow—but now may be the time to row.
We may not see 12–13% annual returns going forward, so focus on interest and dividends.
Expect a reversion to the mean—long-term balance beats short-term hype.
(12:11) Build and Use Your Emergency Fund Wisely
An emergency fund is your financial umbrella for economic storms.
If you’re over-saved (e.g., $100k when you only need $50k), consider investing the excess during dips.
Professional investors keep cash on the sidelines for opportunities—amateurs tend to be all-in.
(14:41) Spend Wisely in a Changing Economy
Tariffs may increase prices, especially on imported goods—think before you spend.
Consider buying American—it may cost more, but it supports neighbors and local businesses.
Small shifts in spending habits can make a big impact over time.
Final Takeaways
(17:08) Control What You Can — And Let Go of What You Can’t
✔ You can’t game plan for everything. Control what you can—your spending, saving, and asset mix.
✔ Don’t let fear keep you on the sidelines. Use this moment as an opportunity for a financial check-up.
✔ If you don’t have a financial advisor, now’s the time to find one who’s a fiduciary.
(19:00) Resources & Contact Info
📖 Greg’s book: Have More by Giving More in Retirement
📍 Visit the Colleyville office at 607 Cheek-Sparger Road
☎️ Call 817-503-0100 to schedule a meeting.
Whether you’re nearing retirement or navigating market anxiety, this episode reminds you to focus on what really matters: a smart plan, steady hands, and perspective grounded in history. Let’s take the road trip together—with confidence.