These yahoos don’t seem to realize that the 401ks are tied to the stock market.
The more the market tanks, the less they can grab in taxes from the 401k...and they been trying to get at folks 401ks early.
I have stock in Proctor & Gamble but that’s all. I lived on my 401K for four years after retiring and before I turned 62. Even though it runs up and down a lot since Biden, it’s still fairly steady and dividends are good.
We don’t owe anything. The farm has been paid off for 25 years, I paid cash for my Equinox by selling some P&G stock, and any CC’s I use online are paid off monthly to avoid interest charges. My husband and I both draw good SS checks since we both had high paying jobs. He retired at 50 and I retired at 58, many years later. He’s almost 20 years older than me.
I do worry about my stock account. Per P&G rules, I have to start taking regular distributions at 70-1/2 or cash it all out. I earned the stock accounts through P&G profit sharing. I’m really hoping President Trump is back in office by then to fix the mess FJB has caused. I’d hate to remove it under his rules.