This week has been a rollercoaster for the markets, and I know many of you are feeling anxious. My inbox and phone have been overflowing with questions. Some clients are wondering if they should pull out of the market entirely, while others see this as an opportunity to invest while prices are low (i.e. “buy the dip”).

I want you to know that I hear you.

No matter where you stand politically, financially, or emotionally, I’m here to guide you through this. We’ve faced uncertainty before, from the 2008 crash to the COVID market downturn in 2020, and we got through them together.

Because so many of you have reached out about the new tariffs and what they mean for your investments, I want to take a moment to break down what’s happening in simple terms, what we expect moving forward, and most importantly what practical steps you can take to protect and grow your portfolio.

So, what should you do? Let’s dive in.

What You Need to Know About the New Tariffs

On April 2nd, President Trump announced new tariffs on imports, raising them higher than expected. These changes will impact businesses, consumers, and the markets.

What’s Changing?

• A 10% tariff will apply to most U.S. imports starting April 5th. The goal is to generate government revenue.
• Beginning April 9^th additional tariffs— ranging from 20% to 54% — will be placed on major U.S. trading partners like China, the European Union, Japan, and India.
• Canada and Mexico are not affected for now, as trade discussions continue.

What Happens Next?

• More tariffs may be introduced on key industries like semiconductors, pharmaceuticals, and minerals.
• The 10% tariff is likely permanent, while the other tariffs may change as trade negotiations unfold.
• Other countries may respond with their own tariffs on U.S. goods and services, which could impact American businesses. That said, since the initial announcements, several nations have already reached out to the White House to begin negotiations. We’re closely monitoring how these talks progress and what they may mean for the markets and your investments.

How Will This Affect the Economy?

• Prices may rise as businesses pass higher costs to consumers.
• Economic growth may slow, especially if businesses delay investments and hiring.
• The risk of recession increases if tariffs stay high for a long period.

What This Means for Your Investments

• Diversification is key: Holding a mix of assets, including core bonds, real estate, and gold, can help manage risks.
• Equity markets will be volatile: U.S. stocks could face short-term pressure, but long-term leadership may return as trade uncertainties settle.
• Active investing is important: Some companies and sectors will be hit harder than others. Companies with strong pricing power and a focus on U.S. consumers may fare better.

Our Outlook

• We expect market volatility in the short term but do not see an immediate recession.
• Inflation remains a concern, so we’re watching Federal Reserve policy closely. We anticipate at least 1 to 2 rate cuts this year.
• We continue to favor quality, value investments and diversification across asset class, regions, and duration to navigate these changes.

The Bottom Line

The U.S. has announced major new tariffs on imports, raising concerns about inflation, economic slowdown, and market volatility. While these changes may create short-term uncertainty, we do not see an immediate recession, and long-term fundamentals remain intact. Staying diversified and focusing on quality investments is key right now. Markets may remain choppy in the near term, but we’ve weathered storms like this before and we will again with calm and confidence.

Key Considerations as an Investor

1.) Know Your Time Horizon

How you adjust your portfolio should depend on when you plan to start withdrawing from your investments.

• If you’re more than five years away from retirement, this could be an opportunity to “buy the dip.” Lower prices allow you to purchase more shares, which can benefit you over the long term.
• If you’re already in retirement or planning to withdraw funds within the next 12 months, it may be wise to harvest gains and shift a portion of your portfolio into more stable, income-generating investments like bonds or CDs.

2.) Tune Out the Noise

With so much happening in the news and opinions flying from every direction—friends, family, media—it’s easy to feel overwhelmed. But remember: your financial plan is built around your goals, not someone else’s. What works for a neighbor may not be right for you.

3.) Revisit the Basics

• Reflect on how your portfolio has performed since you started investing.
• Reevaluate your short- and long-term goals. Are you making a decision out of genuine need or out of fear?
• Consider the type of account you’re making changes in—selling in a tax-deferred account like an IRA is very different than selling in a taxable brokerage account, where capital gains taxes may apply.

Final Thought

Markets will always have ups and downs. What matters most is how we respond—not with fear, but with perspective, discipline, and a plan. If you’re feeling uncertain, you don’t have to figure this out alone. I’m here to help you make smart, informed decisions and stay on track toward your financial goals.

We’ve been through rocky times before, and we’ve come out stronger. I believe we’ll do it again.