Ben Stiller

So it depends a little bit on what we're talking about when we talk about tariffs, right? If we talk about 145% tariffs on everybody, that's going to be a very bad situation for a lot of companies. But yeah, the uncertainty is a really big issue here.

So it depends a little bit on what we're talking about when we talk about tariffs, right? If we talk about 145% tariffs on everybody, that's going to be a very bad situation for a lot of companies. But yeah, the uncertainty is a really big issue here.

On some level, businesses can navigate a difficult environment if they know what it is that they're going to be facing and they can make appropriate decisions. But when you don't know when, you know, one day the tariffs are on, the next they're off, one day they're on, you know, China but not on Europe, the next day maybe that flips. And it's not just tariffs, right?

On some level, businesses can navigate a difficult environment if they know what it is that they're going to be facing and they can make appropriate decisions. But when you don't know when, you know, one day the tariffs are on, the next they're off, one day they're on, you know, China but not on Europe, the next day maybe that flips. And it's not just tariffs, right?

It's everything we're hearing around federal job cuts and doge. It's everything, the uncertainty around immigration policy. All of this makes it difficult for companies to make decisions. And so a lot of companies are on hold. One possibility, right, is we eventually get some certainty and companies start hiring again. Right.

It's everything we're hearing around federal job cuts and doge. It's everything, the uncertainty around immigration policy. All of this makes it difficult for companies to make decisions. And so a lot of companies are on hold. One possibility, right, is we eventually get some certainty and companies start hiring again. Right.

But there's another very real possibility, which is that eventually they do start cutting jobs. If we see these tariffs hit, if we see consumers pull back, if we see a real slowdown in the economy, companies won't be on hold anymore. They'll be cutting jobs and we'll see unemployment rise.

But there's another very real possibility, which is that eventually they do start cutting jobs. If we see these tariffs hit, if we see consumers pull back, if we see a real slowdown in the economy, companies won't be on hold anymore. They'll be cutting jobs and we'll see unemployment rise.

So yeah, I'm definitely not a financial advisor. And I'm definitely not in a position to tell anybody specifically what to do. But look, I think you're right that that is underlying a lot of these questions. And it's interesting to me, right, a lot of those questions sounded like they were coming from people in their 30s, even younger than that.

So yeah, I'm definitely not a financial advisor. And I'm definitely not in a position to tell anybody specifically what to do. But look, I think you're right that that is underlying a lot of these questions. And it's interesting to me, right, a lot of those questions sounded like they were coming from people in their 30s, even younger than that.

If you're in your 20s, if you're in your 30s, you've mostly experienced a stock market that has been rising. You've had some dips along the way, but it bounces back relatively quickly. And, you know, we hear buy the dip, right? Stocks fall like, great, they're on sale. Let's buy them up and profit from it. That's worked out pretty well over the last few years.

If you're in your 20s, if you're in your 30s, you've mostly experienced a stock market that has been rising. You've had some dips along the way, but it bounces back relatively quickly. And, you know, we hear buy the dip, right? Stocks fall like, great, they're on sale. Let's buy them up and profit from it. That's worked out pretty well over the last few years.

It doesn't always work that way, right? Stocks historically have gone up over time, but over time is a really important caveat there. Mm-hmm. The standard financial advice is don't put money into the stock market that you need in the next couple of years and put money in that you can afford to risk and don't try to time the market. If you're sitting here saying like, should I start my 401k?

It doesn't always work that way, right? Stocks historically have gone up over time, but over time is a really important caveat there. Mm-hmm. The standard financial advice is don't put money into the stock market that you need in the next couple of years and put money in that you can afford to risk and don't try to time the market. If you're sitting here saying like, should I start my 401k?

Start your 401k.

Start your 401k.

Well, first of all, it's a tough situation. And I think it's a reminder, you know, we sometimes say the stock market isn't the economy. It mostly affects rich people. You know, most of us have money in retirement savings, in college savings, right? There are real consequences to what happens in the stock market, not only for rich people.

Well, first of all, it's a tough situation. And I think it's a reminder, you know, we sometimes say the stock market isn't the economy. It mostly affects rich people. You know, most of us have money in retirement savings, in college savings, right? There are real consequences to what happens in the stock market, not only for rich people.

I will say, I don't know when Tracy looked at her 529 account, but there was a moment when the market was way, way down.

I will say, I don't know when Tracy looked at her 529 account, but there was a moment when the market was way, way down.