When I started writing this article, my intent was to cover the impact on all retirees, not just those with financial resources. However, as I progressed through my research, it became evident that the impact will be more or less painful in certain areas, based on your financial position.
For example, tariffs tend to increase the price of goods, which has more of an impact on low-income households. Higher-income households tend to spend more on services, which are not as impacted by tariffs. My firm tends to work with those who are retired or about to be, with $2 million to $10 million in investment assets. This article focuses on the impact for those high-net-worth individuals.
