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Retirement Savings Severely Affected By Economic Uncertainty and Tariffs, Survey Shows

President Donald Trump holding an executive order he signed announcing tariffs on auto imports on March 26, 2025
President Donald Trump holding an executive order he signed announcing tariffs on auto impo🌼rts on March 26,𓄧 2025.

MANDEL NGAN / AFP via Getty Images

Key Takeaways

  • More than a third of respondents said that tariffs and economic uncertainty have had a severe impact on their retirement savings, according to a survey by Voya Financial released last week.
  • Nearly 40% also said they have delayed or are strongly considering delaying their planned retirement date.
  • About one-in-three also report either increasing or decreasing their contributions to their employee-sponsored retirement plan, making changes to their portfolio, or strongly considering doing so.

If you've looked at your retirement savings in dismay over the past month, you're not alone, according to a new survey.

A survey released last week by financial services firm Voya showed that more than a third of respondents said tariffs and trade policy uncertainty have had a severe impact on their retirement savings. Nearly 40% of respondents also said 🎶they deferred or strongly🐭 considered delaying their planned retirement date during the recent tumult.

The survey results highlight how retirement savers are reacting to recent market and economic volatility. Traders hope trade deals are on the way, and 澳洲幸运5官方开奖结果体彩网:stocks have recouped much of the 澳洲幸运5官方开奖结果体彩网:initial losses incurred after Trump announced 澳洲幸运5官方开奖结果体彩网:steep duties on trading partners. However, concerns persist throughout financial markets about how 澳洲幸运5官方开奖结果体彩网:import taxes w🧔ill affecꦓt the economy.

Many retirement savers are making some changes to their investments. Nearly 30% report making changes to their employee-sponsored retirement plan or are strongly considering doing so, according to the survey. Nearly 20% of savers said they moved money from investments to traditional savings accounts, while roughly tꦿhe same amount said they were strongly considering it.

What Should You Do During Certainty?

In times of uncertainty, it's important to have a plan in place for your retirement, said Kerry Sette, vice president and head of consumer insights and research at Voya.

“Market volatility, policy changes, regulatory shifts, and fluctuating investor sentiment can create uncertainty, but maintaining a steady retirement savings and investment strategy is key," Sette told Investopedia

Financial advisors said that the strategy during volatility could differ depending on how close to retirement you are. Those who are 澳洲幸运5官方开奖结果体彩网:closer to retiring could consider some changes, such as 澳洲幸运5官方开奖结果体彩网:Roth IRA Conversion or 澳洲幸运5官方开奖结果体彩网:rebalancing their 401(k)s, advisors said. Those further from retirement should be able to 澳洲幸运5官方开奖结果体彩网:regain their savings over time.

Either way, advisors said that retirement savers shouldn't drastically change their savings strategies during periods of uncertainty.

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  1. Voya Financial. "Voya Financial Tariffs Omnibus Survey April 2025"

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