My 401K has been suffering under the Biden admin.
I'm out of equity funds in my 401K and Roth IRA and taxable account. I'm about 50% in long term treasury funds (similar to the TLT ETF) where I can (my 401K doesn't have that option).
“My 401K has been suffering under the Biden admin.”
You really need to get a new financial planner if that is the case.
I have many mutual fund accounts and they have all done 22-30% on average.
My wife has a Morgan Stanley account and it did 44% last year.
“My 401K has been suffering under the Biden admin.”
The Fed had dumped a fantastic amount of money since Covid. The only place that money can go is the stock market. Thus, everything is at insane evaluations. They are now trying to soft land an over inflated economy that has no basis for its present altitude. Their only tool is interest rates. But fifteen years ago, when the amount of money created was only “high” by comparison, an interest rate of four percent would have resulted in every cent taken in by taxes being spent on bond interest payments. To bring the economy under control would require interest payments much higher than seven. At seven the stock market would deflate, the government would need to raise taxes to double or triple their present position. We can forget about growth. They will wait until Trump is president to do that.
On top of that the Baby Boomers will all retire by 2025. They will take their money out of the market because they can’t take the volatility. The Boomers own a huge percentage of that stock. Our 401k’s are on a shaky foundation.
There is a way to bring all this under control. Get rid of about two thirds to three quarters of the government and the regulations they create and enforce. We might get some dirtier sky’s and water, but the nation would grow like crazy. Yeah, it would never happen.
I look at the dailies and am happy if my losses are only in triple digits. Nothing is escaping this, stocks or bonds. Even straight cash holdings are being diminished by inflation.
What is your financial guy putting you into? Earthworm Farms? Stinky's Bob's Chain of Fish and Chips?
Really, get another guy.
Mine’s down 38k in last few days :-/
I was so close. But alas the great reset and the great brandon set back.
“How do you cut demand for cars? You make the middle class poorer…” - Cotton Mind Joe.
Do you have your 401 in the stock market? You should have been matching inflation all through 2021. Of course, the wheels are now beginning to fall off.