EXCLUSIVE: Here are 5 Ways to Survive Trump’s Economic Whiplash
Explore 5 key strategies to survive Trump’s economic whiplash and navigate rapid market shifts.
April 28 2025, Published 6:30 a.m. ET
Global tariff wars recently rocked the stock market, leading many Americans to panic over their financial futures – RadarOnline.com is here to help you weather the economic storm.
Veteran Wall Street financial advisor Robert C. Ford said that now is not the time to lose your head.
Veteran Wall Street financial advisor Robert C. Ford urges calm, reminding Americans the stock market always rebounds over time.
He added: "The key thing is not to panic. Even when the stock market sinks, it inevitably rises again.
"In the meantime, there are things folks can do to keep their finances safe and lower their risk of winding up in the poorhouse."
Here are five key ways to protect your cash:
1. Build a Rainy Day Fund.
"You really want to have that buffer during an economic downturn so you're not left holding the bag in the event of a medical emergency or loss of your job," noted Ford.
"And if you hit a financial windfall, such as a tax rebate or bonus at work, add that to the pot to strengthen your financial reserve."
2. Diversify Your Investments.
Financial planner John Anderson of Equitable Advisors suggested a market downturn is the time to "shift to a portfolio with less risk."
Ford added: "As you get older and will need money in five to 10 years, you want to be more diversified by having a portfolio less weighted toward volatile stocks and more toward stabler investments like bonds, gold and real estate."
A personal finance creator stressed slashing high-interest debt to stay afloat during economic instability.
3. Reduce Your Existing Debt.
Personal finance content creator Angela Castillo believes that having your financial house in order is especially vital during trying economic times.
Ford noted: "You really need to pay off your highest-interest debt first while also considering consolidating debt and, most of all, not taking on new debt."
4. Protect Your Assets.
Ford said it is imperative to have sufficient insurance coverage for your health, home, vehicles and, in the case of business owners, liability.
"Lacking that protection when an emergency hits is the fastest way to go broke," he warned.
According to Ford, sufficient insurance is key to protecting your assets during crises.
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5. Budget Effectively.
During times of financial uncertainty, it is critical to keep a detailed account of your monthly expenses and identify where you can cut costs.
"Separate your fixed expenses, such as rent or mortgage, car payments, insurance, utilities and cell phones, from your variable expenses, such as groceries, clothing, dining out and entertainment," he suggested.
"You'd be surprised at the ways you can cut costs – and you'll be glad you did."
