Some retirees staying positive despite stock market stumble

SALT LAKE CITY (KUTV) — Americans are holding their breath as the Trump administration enacts more policy changes, and many are worried about their financial future — including the ability to retire.

Pam Deppe just retired four days ago, but it was a decision she made months ago.

She’s waiting to see how things play out and is trying to keep a positive mindset.

“I’m in my retirement years, and I’m just hoping we’ll be able to do the things that we planned to do,” Deppe said.

Deppe decided to retire last September, but before she did, she made sure she had a plan.

“You cannot all of a sudden say, ‘I’m going to retire tomorrow.’ You’ve got to really plan it,” she said.

She saw a financial planner, and now she hopes that plan lasts..

“They ask you, ‘Are you a big risk taker? Are you conservative?’ I am not a risk taker,” Deppe said with a laugh.

Deppe retired on Monday, and on Wednesday, President Trump imposed tariffs on nations all over the globe, causing a significant dip in the stock market.

MORE | Tariffs

And with the future of social security also in jeopardy, there are a lot of questions about people’s ability to retire or stay retired.

“It’s important at this point not to lose hope,” said James Royal with the consumer website Bankrate. “Instead, pivot and make smart choices so that if social security benefits are reduced or the program undergoes changes, you’re in a strong financial position.”

That’s the advice Royal gave last month when 2News talked to him about social security uncertainty.

It’s advice Deppe is taking to heart.

“The stock market, when it drops, I always get a pit in my stomach, but I’m hoping it’s just correcting itself,” Deppe said. I’m not nervous. Just hoping we can slide right through it.”

Royal also suggested investing in the stock market, specifically an S&P 500 fund.

But that was before President Trump’s latest tariff announcement, which has caused stocks to stumble.

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