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Kiplinger
Kiplinger
Business
Maurie Backman

I Heard Tariffs Will Cost Families $2,800 This Year. I'm a Retiree on a Fixed Income. How Can I Prepare?

Older man buying milk and looking at the price. Holding basket with fresh lettuce and vegetables. Living on retirement.

Question: I heard tariffs will cost U.S. families $2,800 this year. I'm a retiree on a fixed income. How can I prepare?

Answer: Though retirement can be an exciting period of life, it can be scary to move from a steady paycheck to a fixed income. Granted, that fixed income may have multiple components: Social Security benefits, retirement plan withdrawals, and maybe even a modest pension.

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