Understanding Wall Street: Financial expert talks impact of tariffs on economy

LEADING THE WAY. WELL, THE STOCK MARKET HAS BEEN A VOLATILE, TO SAY THE LEAST, HERE LATELY. BIG SWINGS UP AND DOWN, AND THAT CAN MAKE THE MARKET DIFFICULT. I KNOW, FOR YOU TO NAVIGATE, ESPECIALLY WHEN YOU’RE KEEPING AN EYE ON YOUR RETIREMENT. SO HERE TO HELP US WORK THROUGH ALL OF THIS, MAYBE GIVE YOU A LITTLE BIT OF A SENSE OF SECURITY. IS SPENCER FORD. HE IS THE CEO AND THE WEALTH ADVISOR WITH CONSERVATIVE FINANCIAL SOLUTIONS. SPENCER, THANKS FOR JOINING US. YEAH, ABSOLUTELY. APPRECIATE IT. I KNOW WE KIND OF CALLED YOU SAYING, CAN YOU COME IN TODAY BECAUSE WE GOT TO TALK ABOUT THIS. OKAY. A LOT OF ECONOMISTS OF COURSE ARE TALKING ABOUT THESE TARIFFS THAT IT’S GOING TO LEAD TO HIGHER PRICES ON ON GOODS. AND THE THINGS THAT WE’RE BUYING. WHAT IMPACT DO YOU THINK THAT’S GOING TO HAVE ON INVESTORS. AND MAYBE THE BROADER ECONOMY IN GENERAL WHEN WE’RE LOOKING AT THIS. SO REALLY ONLY TIME WILL TELL BECAUSE WE DON’T KNOW THE ANSWER TO SEVERAL QUESTIONS. THAT WOULD BE LIKE, HOW LONG ARE THESE TARIFFS GOING TO LAST. ARE THEY GOING TO BE NEW TARIFFS THAT ARE IMPLEMENTED ON MORE GOODS. AND ARE THESE TERRORISTS JUST BEING USED AS A BARGAINING TOOL TO MAYBE RENEGOTIATE WITH OTHER COUNTRIES THAT WERE IN TRADE WITH, OR DOES IT REPRESENT A FUNDAMENTAL SHIFT IN U.S. POLICY? AND MY PERSONAL OPINION, I BELIEVE THESE TARIFFS ARE BEING USED AS A BARGAINING TOOL TO RENEGOTIATE SOME OF THOSE TRADE DEALS THAT WE HAVE WITH OTHER COUNTRIES IN ORDER TO BENEFIT THE UNITED STATES. NOW, SOMEONE MIGHT DISAGREE WITH THAT STRATEGY, BUT THAT SEEMS TO BE WHAT THE STRATEGY IS. YOU KNOW, ULTIMATELY, THE CURRENT ADMINISTRATION, THEY WANT TO WIN IN THE EYES OF THE AMERICAN. AND THE WAY THEY’RE GOING TO DO THAT IS THROUGH A STRONG ECONOMY. AND YOU DON’T DO THAT THROUGH PROLONGED TARIFFS, BECAUSE IT JUST MAKES THINGS MORE EXPENSIVE. THEY’RE INFLATIONARY. AND AS WE’VE SEEN, IT’S NOT REALLY GOOD FOR THE INVESTMENT MARKETS. I THINK A LOT OF PEOPLE ARE HOPING MAYBE WE’LL SEE WHAT HAPPENED FROM FRIDAY TO TODAY WITH UKRAINE, WHERE SUDDENLY THERE’S A CHANGE OF HEART THERE. I KNOW MANY INVESTORS HAVE BEEN EXPERIENCE EXPERIENCING RATHER STOCK MARKET WHIPLASH, IF YOU WILL, LATELY. ANY PREDICTION ON WHAT DO YOU THINK THAT THE MARKETS WILL DO HERE IN THE COMING WEEKS AND MONTHS? I MEAN, WE SAW IT CRASH LAST NIGHT AND WE’RE SEEING IT AGAIN TODAY. I FULLY EXPECT THOSE UPS AND DOWNS TO CONTINUE THAT VOLATILITY TO CONTINUE. MARKETS HATE UNCERTAINTY AND WE ARE IN NO SHORT SUPPLY OF UNCERTAINTY RIGHT NOW WITH EVERYTHING THAT’S GOING ON. THE TARIFFS UKRAINE ALL THOSE THINGS. BUT EVEN IF YOU LAY ALL THAT ASIDE WE’RE COMING OFF BACK TO BACK YEARS IN THE S&P 500 WHERE IT WAS UP OVER 20% BOTH OF THOSE YEARS. AS YOU LOOK ACROSS THE INVESTMENT LANDSCAPE, EVERYTHING JUST APPEARS TO BE OVERVALUED. SO WE SEEM TO BE RIGHT IN LINE FOR THERE BEING A DECLINE. NOW, I DON’T SAY THAT TO BE DOOM AND GLOOM. I’M ACTUALLY VERY OPTIMISTIC LONG TERM. BUT IF YOU FLY, YOU KNOW, YOU KNOW, TURBULENCE CAN BE A PART OF THE EQUATION, BUT IT STILL MAKES YOU FEEL GOOD WHEN THE PILOT COMES ON AND SAYS, HEY, BUCKLE UP, SIT DOWN. WE’RE GOING TO BE EXPERIENCING SOME TURBULENCE OVER THE NEXT 30 MINUTES OR SO. IN MY OPINION, THAT’S WHAT EVERY ADVISOR SHOULD BE DOING WITH THE FAMILIES THEY SERVE RIGHT NOW IS SAYING, HEY, WE’RE GOING TO BE EXPERIENCING SOME TURBULENCE, RIGHT? LET’S TAKE THE TIME. LET’S LOOK AT YOUR PLAN. MAKE SURE YOU’RE HEADED ON THE PATH THAT YOU WANT TO BE HEADED ON, AND YOU CAN WEATHER ANY POTENTIAL STORM THAT’S COMING UP. BECAUSE LIKE I SAID, WE’RE KIND OF IN LINE FOR THAT RIGHT NOW. YOU BRING UP SUCH A GOOD POINT HERE, AND LET’S ADDRESS TWO PEOPLE WHO ARE WATCHING RIGHT NOW, THE LONG TERM PERSON WHO’S SOCKING MONEY AWAY AND THEY’RE NOT RETIRING FOR TEN, 20 YEARS. FOR THAT PERSON, WHAT DOES THIS MEAN? SO FOR THAT PERSON, I WOULD SAY KEEP SOCKING IT AWAY. IF THERE IS A DECLINE, YOU’RE JUST GOING TO HAVE THE OPPORTUNITY TO BUY ON SALE. THAT’S EXACTLY RIGHT. YEAH. AND TIME AND TIME AGAIN IN STUDY AFTER STUDY SHOWS THAT THOSE WHO STAY THE COURSE INVEST THOSE SMALL CHUNKS OF MONEY OVER A LONG PERIOD OF TIME, AND THEY DON’T GET SCARED WHEN THE MARKET GOES DOWN. THEY’RE THE ONES THAT REAP THE BIGGEST REWARD IN THE END. WHAT ABOUT THAT PERSON, THOUGH? YOU’RE PLANNING ON RETIRING IN A YEAR OR TWO YEARS? I MEAN, INITIALLY I WAS THINKING, IF THAT’S YOU, YOU GOT TO YANK YOUR MONEY. WHAT WOULD YOU SUGGEST? SO THE STORY IS A LITTLE BIT DIFFERENT IF YOU’RE NEARING RETIREMENT, BECAUSE YOU’RE NEARING THAT POINT IN TIME IN WHICH YOU NO LONGER HAVE THAT PAYCHECK COMING IN TO BACK YOU UP, THAT MONEY THAT YOU’VE WORKED SO HARD TO BUILD FOR THE PAST 30 TO 40 YEARS, THAT BECOMES YOUR PAYCHECK. SO YOU NEED TO HAVE A PLAN OF WHERE YOU’RE GOING TO TURN WHEN YOU’RE IN THOSE PERIODS OF MARKET DECLINE, WHERE’S THAT INCOME GOING TO COME FROM? AND THAT’S THE BIGGEST THING THAT I WANT TO EMPHASIZE IS JUST HAVING A PLAN, NOT HAVING A PLAN. IT’S A PLAN TO FAIL. YOU NEED A PLAN FOR INCOME. YOU NEED A RETIREMENT PLAN, ESPECIALLY IF YOU’RE APPROACHING THAT TIME. YOU ALWAYS MAKE US JUST FEEL LIKE, OKAY, WE’RE GOING TO BE OKAY. SPENCER FORD, THANK YOU SO MUCH. I APPRECIATE IT. SPENCER FORD, AGAIN, THE CEO AND WEALTH ADVISOR FOR CONSERVATIVE FINANCIAL SOLUTIONS. ALWAYS APPRECIATE YOUR INSIGHT AND MAKING US FEEL A LITTLE SAFER

Understanding Wall Street: Financial expert talks impact of tariffs on economy

President Donald Trump imposed tariffs against America’s three biggest trading partners Tuesday, drawing immediate retaliation from Mexico, Canada and China.With these tariffs putting pressure on Wall Street and Main Street, financial experts are working to understand how they could impact people.The fast swings up and down can make the stock market difficult to navigate, especially when keeping an eye on retirement.On Tuesday, WLWT was joined by Spencer Ford, CEO and wealth advisor with Conservative Financial Solutions, who talked more about navigating the stock market.See the full interview in the video player at the top of the story.

CINCINNATI —

President Donald Trump imposed tariffs against America’s three biggest trading partners Tuesday, drawing immediate retaliation from Mexico, Canada and China.

With these tariffs putting pressure on Wall Street and Main Street, financial experts are working to understand how they could impact people.

The fast swings up and down can make the stock market difficult to navigate, especially when keeping an eye on retirement.

On Tuesday, WLWT was joined by Spencer Ford, CEO and wealth advisor with Conservative Financial Solutions, who talked more about navigating the stock market.

See the full interview in the video player at the top of the story.