Tariffs, inflation… Is your retirement at risk?

Economic news is anxiety-inducing. Here’s how to protect your investment portfolio from volatility.

If you’ve been listening to the news lately, there’s plenty to make you break out in a cold sweat. Between the threats of new American tariffs hovering around 50% on Canadian products, 1 forecasts of slowed economic growth (barely 0.7% according to some firms) 2 3 and a tightening labor market 4, the current climate is, to say the least, uncertain.

In this context, it’s not surprising to learn that more than half of Quebecers admit they are afraid of running out of money once they retire.

Perhaps you’re eyeing the balance of your RRSPs or TFSAs with some trepidation. Perhaps you’re wondering if it wouldn’t be better to sell everything and hide your money under a mattress while waiting for the storm to pass.

Take a deep breath. This is the time to be rational.

Panic: The number one enemy of your retirement

In finance, the worst decision is often the one dictated by fear. Historically, investors who panicked and sold their investments during major economic crises (like in 2008 or 2020) not only realized losses, but, more importantly, missed the spectacular rebounds that followed 5 6.

Financial markets go through cycles. Volatility is not an anomaly; it is the very nature of the market. The real danger to your retirement is not short-term volatility, but rather the absence of a long-term strategy.

How to protect your portfolio today?

As a representative in group savings, my approach to uncertainty is not to try to predict the future with a crystal ball. My approach is to build portfolios capable of withstanding shocks.

Here are the 3 pillars of a resilient portfolio:

1. Extreme diversification: Never put all your eggs in one basket. A solid portfolio should be geographically diversified (not only in Canada), by sector (technology, health, consumer goods, etc.), and by asset class (stocks, bonds, cash). If one sector suffers from tariffs, another can compensate.
2. Strategic rebalancing: Over time and with market fluctuations, the allocation of your investments changes. If your stocks have risen a lot, they could represent too large a portion of your portfolio, increasing your risk level. Regular rebalancing allows you to sell high and buy low, in a disciplined manner.
3. Alignment with your time horizon: If you retire in 2 years, your portfolio should not be exposed to the same level of risk as if you were retiring in 15 years. The key is to secure the liquidity you’ll need in the short term while letting the rest compound over the long term.

The antidote to financial anxiety

The best way to counter the anxiety generated by economic news is to have a clear, quantified plan. Knowing exactly where you stand, how much you need to save, and how your investments are structured will restore control over your financial future.

Summer is often a calmer period, conducive to reflection. Take this time to take stock of your investments.

Schedule a meeting with me for a comprehensive portfolio review. We will analyze together whether your current investments still align with your retirement goals and your risk tolerance.

Don’t let the news dictate your future.

1.U.S. tariffs of 50% on Canada risk triggering a new trade war — CNN / WTTW News, July 28, 2026 — The Trump administration imposed 50% tariffs on certain Canadian products, including electrical equipment and machinery, covering about $20 billion of goods. ↩

2.Bank of Canada keeps its policy rate steady — The Globe and Mail, July 15, 2026 — “In its Monetary Policy Report, the Bank cut its GDP growth projection for 2026 to 0.7%, from 1.2% previously.” ↩

3.Canada Economic Outlook — National Bank Financial, July 2026 — “Our base scenario projects GDP growth of 0.7% in 2026 and 1.5% in 2027.” ↩

4.TD Economics Weekly Bottom Line — TD Economics, July 2026 — “Canada’s domestic economy is showing good momentum, underpinned by lower inflation and stronger real retail spending, but prospects remain clouded by trade uncertainty.” ↩

5.What 150 years of stock market crashes have taught us — Morningstar — “If you don’t panic and don’t sell your stocks during a crash, you’ll be rewarded in the long term.” / “The COVID-related March 2020 stock market decline was the shortest downturn: although the fall was sharp, the market fully recovered in just four months — the fastest rebound of any crash in the last 150 years.”

6.Market declines: a history of recoveries — MFS Investment Management — “Too often, investors who sold during a crisis locked in their losses and missed the rebound that followed.” ↩