Financial Sense: Terrifying tariffs and tacos

By Jason Glisczynski

“The most important quality for an investor is temperament, not intellect.” – Warren Buffett

If you know me well, you know I love tacos. They’re one of my favorite foods. I especially love them when they’re on sale — more tacos for the same money? Yes, please. Let’s just say if it’s lunchtime on a Tuesday, there’s a good chance you’ll find me at a local Mexican place.

I love a good deal on tacos. So why is it, when the market goes “on sale,” most people panic?

With more than 20 years of experience as a certified financial planner and certified wealth advisor, I can tell you — the answer is simple: we’re human.

Market volatility is emotionally challenging. That’s natural. But it’s also the price of long-term performance. And for those still in the accumulation phase — working toward retirement or building wealth — these dips aren’t a signal to retreat. They’re often a signal to assess, reallocate, and refocus.

Of course, if you’re already retired and drawing income, your needs are different. But even then, volatility is a feature of investing, not a flaw. When planned for properly, it doesn’t need to derail you.

What’s Causing Today’s Market Stress?

Lately, the markets have taken a hit in response to renewed tariff policy discussions. President Trump’s actions with aggressive tariffs have shaken investor confidence.

Markets don’t like uncertainty, and headlines like “Wall Street Tanks After Trump Tariff Comments” or “Investors Worry Over Escalating Trade Tensions” have fueled sell-offs in recent days. While it’s too early to predict long-term effects, it’s clear: political rhetoric can rattle the markets, and headlines can rattle investors.

So, what should you do? Let’s walk through that.

1. Acknowledge Where You Are Emotionally

In times like this, it’s important to take a breath and ask: How am I feeling about my money right now?

There’s a classic chart called the Emotional Investment Cycle that tracks how investor emotions tend to swing from optimism to euphoria — and eventually to panic and despair — as markets rise and fall. Knowing where you are on that cycle is key to making rational decisions.

Self-awareness is the first line of defense.

The Investing Cycle of Emotions:

2. Revisit Your Risk Tolerance

Many people say they’re “comfortable with risk” — until the market drops.

That’s why it’s so important to reassess your actual tolerance for loss during volatile moments. This isn’t just about how much risk your portfolio can technically handle, but how much you can handle emotionally. Behavioral finance tells us that people often fall into patterns of overconfidence, herd mentality, and loss aversion — even the smartest among us.

If your current portfolio is keeping you up at night, it may be time to re-evaluate whether it matches your true comfort level.

3. Have a Real Conversation With Your Advisor

Now is a great time to check in with your advisor — not just to ask “What’s going on?” but to get clarity on the strategy behind your plan.

A thoughtful advisor should:

• Help you process your emotions
• Explain your plan in plain English
• Share what they’re doing for clients like you
• Offer access to tools beyond traditional stocks and bonds, such as private lending, direct indexing, or tax strategies like 30/30 extensions on tax loss harvesting 

If you’re not getting that level of engagement — or if it feels like your advisor is reading off a script — it might be time to explore other options.

4. Remember Why Experience Matters

There are more than 300,000 licensed advisors in the U.S. Many are good people. Some are excellent professionals. But others? They’re skilled salespeople or media personalities with no real fiduciary responsibility to you.

Navigating market downturns isn’t just about staying invested — it’s about having a plan that’s designed to weather storms. That takes more than a few YouTube videos and a motivational quote. It takes time, expertise, and yes, real-world experience.

You wouldn’t perform heart surgery just because you watched a how-to video. Likewise, managing wealth — especially in volatile times — is best left to seasoned professionals.

Final Thoughts

Yes, markets are uneasy. Yes, political headlines are adding fuel to the fire. But panic doesn’t lead to progress.

If you’re already working with an advisor and feeling calm, great — that’s a sign of a well-structured plan. If you’re not, or if you’re left wondering whether your strategy is still sound, consider this your invitation to have a deeper conversation — with your current advisor or someone new.

Investing is emotional. But your plan shouldn’t be.

Jason Glisczynski is co-owner and principal advisor for Silvertree, LLC. He is a CERTIFIED FINANCIAL PLANNER™ Professional and a Certified Private Wealth Advisor Professional, and specializes in working with business owners, executives, and workers in manufacturing.

Investment advisory and financial planning services offered through Summit Financial, LLC., a SEC-Registered Investment Advisor, doing business as Silvertree, LLC. Insurance products may be offered through Summit Risk Management, LLC., an affiliate of Summit Financial, LLC. Summit and its affiliates do not provide tax or legal advice. Please consult with your tax and/or legal advisors before taking any action that may have tax and/or legal implications.