Reports of a trade war between Canada and the United States have been growing increasingly louder since March 2018, when U.S. President Donald Trump announced that he planned to impose steep tariffs on steel and aluminum from three of America's biggest trading partners, including Canada, Mexico, and the European Union.
Since Mr. Trump’s announcement over three months ago, stock markets around the world have been on somewhat of a wild ride, making older Canadians who are considering retiring within the next five to ten years understandably nervous about their investments. For his fellow citizens who are thinking about how these current events could affect whether they are able to retire within the timeframe they anticipate, he says the most important thing anyone can do is not try to time the market.
“Remember that abandoning the stock market to reduce potential losses could mean missing out on potential financial gains when the market recovers,” Leslie Griesdorf shares. “Even though no stock market recovery can be guaranteed, if you withdraw your investments during a decline or tumultuous few months, it means that unless you get back in at the right time, you will certainly miss out on the full benefit when the market recovers.”
