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Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.
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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.
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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.
“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.
Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”
Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.
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While many visitors come to the area for the otherworldly landscapes of Badlands National Park, roughly 60 miles east of the city, or the wildlife viewing at Custer State Park to the south, the city offers its own unique scenery.
Rapid City borders the Black Hills to the west and prairie grasslands to the east. Rapid Creek meanders through town and an adjacent greenway connects much of the city’s 1,650 acres of park land.
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Two beloved decades-old parks Dinosaur Park and Storybook Island have recently been upgraded to be disability accessible. Wheelchair-friendly Dinosaur Park includes seven life-size dinosaur statues and panoramic city views. At Storybook Island, six pieces of playground equipment are wheelchair accessible and have Braille panels and sensory panels for children with autism. The park is renowned for fairy tale character playsets, an antique carousel and a miniature train. Admission to both parks is free.
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Mountain bikers and hikers favor the panoramic views from trails within the 150-acre Skyline Wilderness Area, or from spots along the more than 20 miles of trails in Hanson-Larsen Memorial Park, where M Hill pays tribute to science and engineering university South Dakota Mines. All of these trails are located within city limits.
Jason Kingsbury is a tourist-turned-resident who relocated largely because of the city’s outdoor recreation. Kingsbury is an avid camper, mountain biker and fly fisherman.
“I was absolutely blown away with how much there is to do in Rapid City,” Kingsbury said. Accessing outstanding outdoor recreation in just minutes is unique, he said.
“A lot of people do not have that experience. They can go to Memorial Park and ride world-class (trails). They can ride there from their hotel that really impresses people,” Kingsbury said.
“What a lot of people always say is ‘I can’t believe how cool this is. I never thought South Dakota had things like this,’” he said. “They realize real quickly we’re far more than just Mount Rushmore.”
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