Tariffs: Boomer Agony and Options
Predictably, the Trump administration's latest moves on tariffs have unhinged global markets. Here in the US futures are down 400 points. As the day goes on, the actual operation of the Dow can represent a meltdown.
That leaves Boomers accelerating the angst about outliving their money.
Meanwhile, it has become more difficult for those over-65 to acquire added income through paid work.
Actually, so difficult is landing even gigs is that I, as a coach, I have stopped accepting as clients those who have decided to "unretire" in the traditional way: that is, looking for a job or gig.
Plans to journey back to laboring for income as a contract worker or employee, after a time-out, has morphed into a kind of a fantasy.
Most haven't kept up with the fast-changing technology. What AI apps do they have down cold?
Ability to navigate the interviewing process has atrophied. Plus they would have to understand what the AI screeners for interviews are looking for. What knocks them out of the box often has nothing to do with the job description. I know. I have assessed such AI-conducted interviews.
Needless to say, resumes and cover letters also have to be reset for the initial review by another kind of AI screener.
And what can they offer those hiring? How they earned a living may no longer be marketable in 2025. Or, there's now a glut of them? Are they aware how to differentiate themselves?
Of course, though, there's always a way. For those who want or need more money the potential is in self-employment.
It could be a micro enterprise. There's the person in the neighborhood who makes it their new business to do handywork or run errands. They let everyone know they're available. Or the self-employment could be larger in scope. Think purchasing a franchise. What about training to be animal groomer, then structuring a mobile service?
Another survival option? It could mean financial survival to pull up roots and relocate from a HCOL (high cost of living) area to a LCOL (low cost of living) one. Of course, that could be soul-wrenching. However, it might eliminate having to hustle for more money. Or, fearing becoming homeless. One in five of the unhoused are 55 years of age or older.
In HCOL Manhattan a bit over 200 square feet (216) rents at $1,500. In LCOL Toledo, Ohio, 750 square feet, with all utilities paid, goes for $760.
So here we are. Bracing for another bad Friday for investments. When will the rollercoaster trigger a tipping point to consider coming up concrete solutions how not to outlive one's money?
UPDATE:
There has also been a weak jobs report, impacting futures. Only 73,000 jobs had been created in July 2025. The burden is on you for your long-term financial survival.
UPDATE:
Dow down almost 600 points, at 9:45 AM New York Time.
UPDATE:
Not a good day in BoomerVille
Thrown off your game, maybe the first time since you
started working? You made all the right moves and then the world moved in
another direction.
Intuitive Coaching. Special expertise with transitions,
reskilling and aging. Psychic/tarot readings, upon request. Complimentary
consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com).
Yes, test out the chemistry. There’s no risk.
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