Community Experience
Billytal
Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.
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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.
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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.
“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.
Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”
Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.
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Two strangers met on a train. Then they decided to travel the world together
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Savery Moore and his wife Jan always talked about traveling across Canada by rail.
The American couple shared a dream of waking up to the sun rising over the tracks and spending days winding through forests and across prairies, glimpsing snow-capped peaks and frozen lakes through the train’s domed glass roof. Making memories together.
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For most of their 35 years of married life, Savery and Jan didn’t travel much, spending long days working in advertising.
But when the couple finally retired in their 60s, leaving New York City for a small town in Massachusetts, they were excited for a new chapter and new opportunities.
“We both retired the same day,” Savery tells CNN Travel today. “We looked forward to having our life forever, together.”
Savery and Jan finally looked into booking their dream trip on VIA Rail’s “Canadian” service, a luxury train journey that winds from the West Coast of Canada to the East over four days.
“We were going to spend some money and take The Canadian in a class called ‘prestige,’ which is VIA Rail’s most expensive way to travel,” says Savery.
This was a “bucket list trip,” explains Savery. The couple wanted to splurge, figuring “we were only going to do this once, so let’s just do it right.”
But just as they started planning the trip, life took an unexpected turn.
“Jan was diagnosed with cancer, and it was lung cancer, and it was aggressive,” explains Savery. “Within a month-and-a-half to two months after her being diagnosed, the cancer had already spread.”
In the months that followed, Jan had brain surgery. She was enrolled in a couple of clinical trials.
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