Intermediate Draconian reduction to the US Social Security Agency (SSA) And fears that President Donald Trump's economic policies, including sudden new tariffs, will do so 401K accounts are losing valuemany older Americans have great concerns about their ability to retire.
in OP-ED published by The New York Times On March 24, William D. Cohan, a founding partner at Pack Media and former Wall Street Banker, warned older Americans that their retirement accounts could be in very poor conditions for the coming months.
“Our stock market is beginning to crack.” Kohan explains. “Investor trust is dissipating rapidly, and changes in the way Wall Street works mean that the impact on your retirement portfolio can be much more severe than you notice.
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Kohan adds“After three consecutive months of declines, the lowest level of consumer confidence has been around since July 2022. Retailers are struggling. Ralph Lauren stocks fell 19% last month alone. There are plenty of other tanking stocks too.”
According to KohanTrump's tariffs could have a “disastrous” effect on the economy, including retirement accounts.
“If history is a guide, it can get pretty bad. Financial calculations tend to be around once every 20 years, nearly 17 years away from the devastating financial crisis of 2008.” Kohan warns. “This time, we recently unleashed the recession because it was at least partially inflicted by the nine-week-old Trump administration.
Former Wall Street banker notes “Many normal retirement portfolios” have considerable exposure to “I believe some of the most expensive stocks we've seen in our lifetime are poised to return to Earth.”
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“This may be a good moment to check your retirement funds, because you may have thought you were safe because you are actually leaning heavily towards the biggest and worst tech stocks.” Kohan gives advice. “And they could be suddenly facing financial calculations.”
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William D. Cohan's Full New York Times Op-Ed is available With this link (Subscription required).
