Easing Financial Anxiety Around the Dollar, U.S. Debt, and Retirement
Are you feeling a little more anxious than usual about your money?
Given everything that's happening in the world right now, that's perfectly understandable.
What concerns me is the rising number of Americans who say that their money worries are nudging them towards high-risk speculation in crypto, meme stocks, and prediction markets.
And what's even more concerning is that folks aren't taking massive money risks just because they want to get rich quick. They're afraid that their peers and some of the bedrock assumptions of our financial system are leaving them behind.
Unfortunately, substituting a disciplined financial plan with speculative gambling rarely helps anyone catch up, let alone build wealth to secure retirement.
On today's show, we try to ease some of this financial anxiety by answering three listener questions that touch on some very common money fears.
1. "Is the U.S. dollar dying? Should I move into gold or foreign currencies?"
Two of the internet's favorite financial misconceptions are intertwined here.
First is anxiety about the dollar's status as the world's reserve currency, meaning the currency in which most trade happens. According to the International Monetary Fund, as of December, 2025, the $11.5 trillion that banks around the world hold in reserve, around 57% of funds are held in U.S. dollars. The next closest currency is the Euro at 19.8%. China's yuan is at 2.2%.
As unsettled as the markets and our politics have felt over the last few years, the United States still has the largest and most stable financial system in the world. That's not going to change anytime soon.
The second misconception is the idea that the dollar is "collapsing" when, in fact, what folks are really observing is the impact of normal inflation. Yes, a dollar buys less today than it did 25 years ago. Hopefully, a dollar will buy less 25 years in the future too! That's a sign of healthy economic growth, not a cause for panic.
Outpacing inflation is also a core reason for investing.
Since 1950, the S&P 500 has compounded around 11% annually. If, starting 30 years ago, you invested $1,000 into the S&P 500 every month, that account would have compounded to roughly $2.3 million today. If you'd started 40 years ago, you'd have around $7.2 million.
"Time in" the market, rather than "timing" the market – or getting out altogether – has proven to be the most reliable hedge against inflation. And the market will continue to run primarily on U.S. dollars, not gold or the yuan.
2. "The Treasury just declared that the U.S. is insolvent. Should I be repositioning my retirement?"
A long-time client was understandably concerned when they read this story, which included some potentially alarming data. According to the U.S. Treasury's 2025 financial statements, our government is carrying $47.78 trillion in liabilities against $6.06 trillion in assets. That's in addition to another $88.4 trillion in unfunded Social Security and Medicare obligations.
In black and white, you could interpret those numbers as "insolvent." But the government's "balance sheet" includes current assets and liabilities, while the Social Security and Medicare obligations are projections for the next 75 years.
That balance sheet also fails to include the approximately 640 million acres of land that the federal government owns, with an estimated value of $150 trillion. The mineral, oil, gas, and timber rights associated with that land would add another $200 trillion in estimated value.
I agree with the writers of this article that the national debt and government spending are important topics worth debating, hopefully before they become serious problems. But their headline is a bit overblown. Don’t let this kind of hyperbole lead you to emotional money decisions.
3. "Should 401(k) plans be allowed to invest in private equity and private credit?"
To quote Christine Benz of Morningstar, this idea is "a solution in search of a problem.”
There can be a place for "alternative investments" like private equity in a balanced and diversified portfolio. But these investments aren't a foolproof path to becoming a billionaire either. Many of these products are illiquid and come wrapped up in complex rules and fees. And the "stability" that many investors find so attractive is really just a function of how the investment is priced.
Your 401(k) plan doesn't need that extra hassle to grow wealth for retirement. What it needs is as much participation as you can give it, within the guardrails of a comprehensive financial plan. Folks who aren't maxing their contributions every year and taking advantage of employer contributions are missing out on a much simpler and more reliable path to retirement.
Your Million-Dollar Question
So, why do some financial firms want private equity in your 401(K)?
Why do posts about government insolvency never include a full balance sheet?
And why the constant panic about the dollar's reserve status?
Unfortunately, in the digital media age, successful investors have to start asking a more pointed question:
"Whom does this benefit?"
Social media wants clicks.
Brokers who deal in gold and alternative investments want to sell you ... gold and alternative investments.
Some financial institutions want more access to the money growing in your retirement accounts.
And not all financial professionals are held to the same standard when providing financial advice.
But you don't have to wonder who benefits when you're working with Keen Wealth. We operate under a fiduciary standard, which means we have a legal duty to act in our clients' best interests.
If the headlines have you feeling anxious about your progress or your current asset allocation, get in touch and let's talk about our comprehensive approach to helping people feel more confident about their financial future.
About Bill
Bill Keen is a financial advisor with over 30 years of industry experience. As the founder and CEO of Keen Wealth Advisors, a registered investment advisory firm, he focuses on providing personalized retirement planning designed to help people thrive before and during their retirement years. With a passion for educating others, Bill regularly blogs about retirement planning, hosts the podcast Keen on Retirement, and has contributed to Forbes, U.S. News and World Report, Reuters, Wall Street Journal’s Market Watch, Yahoo Finance, and other publications. Based in Overland Park, Kansas, Bill and his team work with clients throughout the greater Kansas City area and across the nation. To learn more, connect with him on LinkedIn or visit www.keenwealthadvisors.com.
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