Suze Orman warns Americans about 401(k)s, recession fears now
Stock values have cratered in the two days since President Donald Trump unveiled his global tariff plan after the close of trading on April 2 — and millions of Americans have watched helplessly as their 401(k)s and other investments quickly crumbled.
The damage to markets was "significantly larger than expected," Federal Reserve Chair Jerome Powell said April 4 at a Society for Advancing Business Editing and Writing (SABEW) conference.
Personal finance author and media personality Suze Orman issued a warning for readers and offered some financial recommendations about how to handle the pressure-packed situation.
If the tariffs proceed as announced and affect trade, Orman explained, the economy could be headed for difficult times and the question of whether a recession is imminent looms.
Orman discussed those worries, how they affect people and suggested some important ways Americans can react.
Personal finance author and media personality Suze Orman is pictured. Orman warns her readers not to make financial decisions out of fear — and to continue contributing to 401(k)s for retirement savings.
Suze Orman warns Americans about fear, finances and 401(k)s
Regarding recession concerns, Orman acknowledged that workers, in addition to retirement savings worries, are also nervous about potential layoffs.
"I won’t tell you not to be fearful of the financial road ahead," Orman wrote in a newsletter. "But I need you to listen to me: Don’t make financial decisions out of fear."
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