Posted on 09/24/2022 6:24:13 AM PDT by NetAddicted
Twitchy US NEWS MEDIA ENTERTAINMENT CARTOONS Premium Content My Account × Search twitchy.com.... If the ‘My 401k’ trend is ANY indication, Democrats are in seriously DEEP crap come November (here are some of the ANGRIEST tweets) Posted at 8:44 am on September 24, 2022 by Sam Janney
As the Biden admin desperately tries spinning this disastrous economy (look, you’re paying less for gas but still more than before but hey, you should be grateful), it’s becoming more and more obvious that they either have no idea what the Hell they’re doing OR there is sadly some truth to the ‘conspiracy’ that they’re trying to tear down and rebuild … not better, but what that they think our country should be.
And if that’s the case, that ain’t good.
Americans are losing thousands of dollars under this administration:
Americans have lost $4.2K in income under Biden, says study https://t.co/hf59KO0ghR pic.twitter.com/VMLYeVbyAT
— New York Post (@nypost) September 23, 2022
From The New York Post:
The average American has lost $4,200 in annual income since President Biden took office — entirely wiping out gains made under the Trump administration, an analysis from the Heritage Foundation shows.
The losses come down to surging inflation and higher interest rates, experts at the conservative think tank said in a Thursday report.
Their analysis found that the average American has lost about $3,000 in annual purchasing power because consumer prices, which have risen 12.7% since January 2021, have spiked significantly faster than wages.
Not to mention what the stock market is doing …
A live look at your 401k … pic.twitter.com/rJbp9XVtCf
— Carol Roth (@caroljsroth) September 23, 2022
*sigh*
My husband has lost 30% of his 401k since Biden took office. I guess “Build Back Better” means tear it all down first. 😒
— TruthMommaMel 🐾❤️ (@truth_momma) September 23, 2022
A third of his 401k … gone.
The Democrat Party is Wiping Out your entire LIFE SAVINGS? Every day since Biden took office, my 401k is sinking into the abyss! Biden does NOT CARE about YOUR finances. He is stealing our savings every day!!! Ukraine is getting your 401K! Happy???
— Amy Kennedy (@Rotruck5670) September 23, 2022
Ukraine is getting your 401k.
Not entirely inaccurate.
thinking about my 401K like pic.twitter.com/GODKcEqvGw
— 𝑒𝓁𝓁𝑒 📿 (@FletchMatlock) September 24, 2022
We’re seeing a lot of this.
People have lost so much that they’re scared to even look.
The inflation rate was certainly gaining.
Last time I looked at my 401k I've had nothing but straight decline since January. https://t.co/JAJn2zMpgo
— Grumpy (@SweatimusPrime) September 23, 2022
Life-changing … just not in a good way.
These people.
Don’t know about you, but my 401k was doing a hell of a lot better under Trump than the fraud in there now.
— First Words (@unscriptedmike) September 21, 2022
. How you enjoying the economy under Joe Biden ???
Dow Jones down 821 pts now we are at 29,250
My 401k is now a 201k Haha !!! .
— Love Like JESUS (@_LoveLike_JESUS) September 23, 2022
😒 No need to check my 401k anytime soon. https://t.co/ecVsX397O1
— noelle (@Noelle60587511) September 23, 2022
Since Biden took office my 401K has lost $80,000. Yes, I am retired.
— JustMeTom (@thomashourigan3) September 23, 2022
No words.
Last I checked, my 401K is down over 15%. Infuriating! Not only hurting people planning to retire someday, but holy crap, what is it doing to people already retired, depending on that money for income now? Yes, get that clown out of office, and start with dems this Nov.
— Joe (@JoeC1776) September 19, 2022
Down 15%.
I cannot even bring myself to look at my 401K.
— Marcia In Texas 🇺🇸 🇮🇱 🐬 📜 (@MarciaInTexas) September 23, 2022
Nasdaq Performance 612 days in office
President Trump: +44.17 President Biden: -19.24%pic.twitter.com/DOitQP1a7h
— InteractivePolls (@IAPolls2022) September 23, 2022
Woof.
There’s a reason Democrats want us focused on abortion and made-up fascism and NOT the economy.
********************************************************** trending (current Twitchy articles) ------------ Peter Doocy makes KJP look even WORSE at her job in HEATED back and forth over abortion restrictions (watch) ---- EPIC thread takes Tweeps on a 'journey' of Leftist VIOLENCE to mock toolbags still claiming J6 was a THREAT to our Democracy ---- Say it ain't so Joe, epic explanation for inflation conveniently emerges, surprise - Republicans are to blame!
“the 401(k) simply can’t work as a simultaneously growth-oriented and safe retirement vehicle. It was not a bad idea as a supplement to an old-style defined benefit plan, but it can’t reliably replace it. There is too much abstraction between a share of stock and the underlying company operating profits that it purports to represent - and the burden on the average investor to try to figure that out has grown much too high.”
An investor doesn’t really need to figure out much. Many 401Ks have the choice of multiple funds including one that sort of mirrors the S&P 500. You don’t want to invest it all in a single stock. Invest 10-20% or more of your paycheck in the equivalent of the S&P 500 index fund and leave it alone for 30 years or more. You will likely achieve critical mass. aka Lazy investing.
The problem is not 401Ks or the market. The problem is many people will not invest 20% of their take-home pay into a retirement fund and leave it alone for 30-40 years.
My take on investing is that all of those talking heads who say they know what is going to happen really don’t know and it’s like Cramer (who is nauseatingly embarrassing most times with his predictions) trying to give you advice.
I play long - very long. 30 years or more.
I won’t touch it, ever until then.
Ups and downs happen. It’s good when it goes up, good when it goes down. And the reason is because the tomatoes just went on sale when it goes down.
A lot can happen in 30 - 40 years of investing. Of course with CBDC right around the corner we’re sort of in uncharted territory.
Took quite a loss but the change in lifestyle is worth every penny and we feel prepared for whatever may come. Life has never been so nice.
The RMD is calculated at the beginning of the year IIRC. Therefore, a larger chunk of a smaller balance is taken. We really are on the way to Halifax in a handcart.
Why not just take your RMD today and invest it back in the same investment that has lost 15%-30% of its value this year?
The $4,000 loss due to inflation is peanuts compared to the $100,000 to $200,000 people lost in their 401ks, people in their 50’s and 60’s planning for retirement.
Yet I haven’t heard the GOP mention this, at all.
Exactly, and that's alot of dough in a 500,000 to 1.5 million account.
Good point.
.... followed by .... "I agree. In a way, growth and safety are opposites when it comes to investing. (I know time is a factor, too.). I myself follow the (imperfect) rule of stock percentage = 100 - your age."
I suggest two things:
1. Wide diversification. I use over 40 mutual funds in my IRA (transfer your 401k/Roth 401k money into an IRA/Roth IRA so you can have way more investment options). 3/4ths of them are equity funds in various asset classes.
2. A relatively high equities-to-bonds ratio like 70%/30%. Yeah, I know it's common to do something like 50%/50%, or the 100-age technique. But those don't fight inflation. Having 70% in equities gives you a fighting chance to keep up with inflation.
Why I do that:
A withdrawal strategy of 4% annually means during a major stock downturn you have 7 years for stocks to regain their value without having to pull from them (the 30% in bonds divided by 4% = 7 years). Major diversification in both equities and bonds gives you even more margin for a stock recovery. If it's time to do an annual withdrawal and your S&P 500 index fund is down, maybe your tech fund isn't, or your energy fund, or your real estate fund, or your foreign real estate fund, or your small cap value fund, or your mid cap value fund, or your Europe fund, or your Latin America fund, or your retail fund, etc. In almost every stock downturn at least one of my 30 equity funds are up -- and even if they're not I have the 10 bond funds to pull from (2 of which are money market funds to give me a the safest ladder this side of FICA-insured savings accounts).
Take right now. Most of my equities funds are down since Brandon. But PRNEX (energy) is up 7.45%, TQMVX (large-cap value) is up 3.24%, and PRDGX (dividend) is up 1.89%. Even if I was retired now (I will be in a few years) I could pull my 4% annual withdrawal from them to let the other equity mutual funds have time to recover. (I'm actually out of equities waiting for them to quit falling before I buy back in, but that gets into timing strategies.)
As another example, look at the huge stock drop from March 2000 to fall 2002. If I had been retired then and was taking my 4% annual withdrawal even at the worst time (fall 2002), I could have pulled it form the TRREX fund (real estate, up 28.5%), PRWCX (common stock fund up 20.75%), TRMCX (mid-cap value up 18%), or PRSVX (small-cap value up 14.9%) even without pulling from bond funds like the PRULX (long-term treasuries) that was up 15.7%.
Finally, look at the huge Oct 2007 - Mar 2009 downturn. Yeah, if I was retired then and taking annual withdrawal at the worst time I'd have to pull from one of my bond funds (like the PRGMX, a GNMA fund that was up 2%) because all of my equities funds were down at least a little. But only for a few months. By the end of July 2009 my TRGRX (global real estate) was back in the positive, already up 5.7% from where it was when stocks started downturning. By the end of the year, TRULX (large-cap core) was up 19% since Oct 2007.
That would be a good start. It won't be enough though. Other methods will be required in addition to voting. The Democrats will not exit their offices voluntarily or peacefully regardless of elections.
“All have been registered as Democrats.”
That’s part of their in-processing. Next big push will be for amnesty so they can vote...legally.
Over 50% of Independents don’t like Biden, plus bunches of Democrats.
Sounds exactly like a Demonicrat tweet.
Thanks for the hopeful note.
That is surprising.
...Jesse (Mandela) Barnes,...
____________________________________
They shaved his beard, showed him in the kitchen unpacking a bag of groceries and assuring everyone that he never sought to defund the police.
I agree they are flailing.
I agree
Never thought of that one..good post
I agree.
Why dont the republicans stop telling Trump and us to shut up about stollen elections ???!!!!
I agree.
Why dont the republicans stop telling Trump and us to shut up about stollen elections ???!!!!
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