#40 - 3 Action Items to Consider When Tariffs Rattle Markets
Greetings!
We just hit 50,000 downloads in the first month of the podcast’s going live, AND we cracked the Top 10 on Apple’s Top Biz Podcasts! (I don’t know much about these metrics yet, but that seems like a solid start?!?) Thank you for all of the amazing support, and let’s keep climbing.
In this week’s podcast episode of Your Money Guide on the Side, I sit down with Victoria Ferguson, CFP® and we explore what happens when a top-tier financial planner ditches the suits and spreadsheets to help people make money decisions by delivering engaging guidance for free. Victoria Ferguson is an educator, creator, and all-around straight shooter when it comes to money.
On this episode, we cover the following:
-Why she and I both hate the concept of budgets (and what to try instead)
-How to spot a great financial advisor
-The emotional stuff most money experts ignore
-A better way to filter advice—and define success
Whether you're building wealth or just trying to feel less weird about money, this one’s honest, fun, and full of gold from a truly powerful financial voice.
Subscribe now so it’s waiting for you Monday morning → tylergardner.com | Apple | Spotify
And Now Because You’ve All Been Asking me to Talk About Tariffs…Here is Your 3-Step Action Plan When Tariffs Rattle Markets
1. Don’t Panic-Sell — Check Your Timeline Instead
If you’re not retiring tomorrow (and even if you are), tariffs are just another bump in the global economy’s endless road trip. I know it’s easy for us to “know” this stuff, but seriously, this volatility is normal, it’s happened before, and it will happen again.
Action: Ask yourself: “Am I investing for the next 30 days, or the next 30 years?”
Your answer tells you whether to take action or take a walk. And note: if you had been investing for the next 30 days, you shouldn’t have been in the stock market to begin with. Yes, the truth can hurt.
2. Watch for the Real Impact on Prices — Not Just the Noise
Tariffs don’t always hit your wallet the way headlines suggest. Sure, a new grill may cost $50 more, but you might not notice it in your day-to-day spending unless you’re big on imported goods (or building a fleet of electric scooters).
Action: Review your expenses and see what you’re actually spending on. Are prices rising in the categories you care about? If so, look for substitutions, or just delay that major purchase if you can.
AND: If you’ve been putting off buying something big, that might be impacted by the tariffs, consider pulling the trigger before the new tariffs kick in.
3. Rebalance Your Portfolio — Not Your Emotions
When the markets are shifting, it is often a great chance to rebalance your portfolio if you’d like — sell high, buy low — and make sure your asset mix still reflects your goals, not the news cycle. To be clear, this isn’t timing the market; it’s appreciating that we need to rebalance our portfolio from time to time, regardless of where the markets are, and a “dip” is just more of a reason to reallocate in a more cost effective way.
Action: Check your stock/bond mix and your sector exposure. If you’re way over-weighted in companies that rely heavily on imports (e.g., retailers), consider diversifying a bit more globally or defensively. Personally, I don’t play that game, but I’m also 42, and many of you might want to play a bit more defensively right now while the market figures itself out.
And hey — you don’t have to do this alone. That’s why I’m here and posting daily content. Notice, though, my content is not directed towards daily headlines. That’s a hint to all of you that your actions should also not be directed towards daily headlines.
Final Thought:
Tariffs will come and go. Markets will freak out and then calm down. The key isn’t predicting the chaos — it’s preparing to act with clarity when everyone else is panicking with noise. Have you noticed I say this in almost every newsletter? Let’s start to notice the trend.
Remember: headlines make news, but habits build wealth.
As always, hopefully this gives you something to think about throughout the week.
Tyler
Your Money Guide on the Side
