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Average American is losing $34K and everything
else on Biden’s watch

Original Article

Posted By: formerNYer, 10/17/2022 12:20:33 AM

Have you taken a peek at the balance in your 401(k) retirement accounts lately? Here’s our advice: Don’t bother. It will ruin your whole day, week and month. Here’s why: We’ve now had seven straight months of 8%+ inflation. A year ago we were assured by the White House economic wizards that these rapid price increases in everything from groceries, to rental cars, to gasoline at the pump, to health insurance were merely “transitory.” Whoops.

Comments:

I retired in September of 2021 and our 401Ks have taken a beating too.

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Reply 1 - Posted by: Nimby 10/17/2022 1:33:12 AM (No. 1306747)
While taxpayers are struggling, Biden eats ice cream and takes weekend trips to Delaware, and his wife attends NFL game as captain. The taxpayers funding their sojourns cannot either, thanks to the clown’s policies. Despicable people
15 people like this.

Reply 2 - Posted by: mifla 10/17/2022 4:13:21 AM (No. 1306770)
KJP: Everything is fine and anyone who says otherwise is a right wing, racist, MAGA loving domestic terrorist.
4 people like this.

Reply 3 - Posted by: Trigger2 10/17/2022 4:15:41 AM (No. 1306771)
Well, one thing for certain. It certainly hasn't stopped the Biden's play for pay cash Scheme that the Clinton's made so famous for themselves. Joey is following suit since she never got in trouble for it.
5 people like this.

Reply 4 - Posted by: downnout 10/17/2022 6:44:54 AM (No. 1306814)
I wish it was only 34K.
14 people like this.

Reply 5 - Posted by: Pammie 10/17/2022 8:33:40 AM (No. 1306884)
The Fraudulent Selection with Dementia....FJB!
3 people like this.

Reply 6 - Posted by: Phantomll 10/17/2022 9:18:28 AM (No. 1306926)
What #4 said.
4 people like this.

Reply 7 - Posted by: DVC 10/17/2022 9:50:43 AM (No. 1306965)
My wife and I are sitting on over $1 million in paper losses due to these damned Dem destroyers wrecking the best economy of the last half century, and turning it into the biggest inflation in half a century.
5 people like this.

Reply 8 - Posted by: Strike3 10/17/2022 9:57:41 AM (No. 1306975)
Biden thinks it's cool to throw trillions of dollars at useless policies like green energy and COVID aid that is being used for everything from rebuilding cities burned out by BLM to paying Big Pharma to produce useless vaccines that are not vaccines and to finance the illegal alien invasion. We taxpayers knew that kind of frivolity would come around to bite us and here it is. FJB and the old nag that he rode in on.
2 people like this.

Reply 9 - Posted by: bpl40 10/17/2022 10:26:05 AM (No. 1307019)
And STILL New Yorkers will vote Democrat this November. This is our biggest problem. Not what the Democrats are doing. But the fact that they are getting away with it and getting re-elected!
4 people like this.

Reply 10 - Posted by: MDConservative 10/17/2022 10:46:10 AM (No. 1307053)
If you continue to hold an asset you haven't lost anything. You only lose when you sell. One wonders what asset was bought and its price then. What has been lost is unrealized asset value. So, roll your IRA into CDs or cash instruments to stop the market unrealized value decay. And for your taxable holdings, take a look at I bonds.
1 person likes this.

Reply 11 - Posted by: Amanoftwistsandturns 10/17/2022 11:09:03 AM (No. 1307081)
Mine is down 15% because I went into a defensive strategy when FJB took office . My advisor tells me the average account is down 27% and still falling.
3 people like this.

Reply 12 - Posted by: bighambone 10/17/2022 12:24:35 PM (No. 1307143)
If you are an American worker who during your career have paid your bills and have managed to build up enough savings to retire one day, and you recognize that Biden and the Democrats through their leftist and socialist political policies and programs are trying to destroy your savings, and that is not being done by accident. So your legitimate assessment of Biden when you lump inflation, his foreign policy debacles, and his attempt to destroy your savings, is bound to be that Biden is just about the worst President in your lifetime. But if you are a person who has nothing to your name, don’t have a clue about the way the world turns, and depend upon government largess to survive, you probably one who figures that Biden is the greatest President since ice cream cones were invented. The upcoming election result will depend on which way the majority of the electorate favors in the years ahead, those who are independent with their finances and lives, or those who have made themselves dependent upon the Biden style socialist Democrat government to have any hope of survival.
1 person likes this.

Reply 13 - Posted by: mifla 10/18/2022 7:10:34 AM (No. 1307731)
I guess that makes me above average.
0 people like this.

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Posted by formerNYer 10/17/2022 12:20:33 AM Post Reply
Have you taken a peek at the balance in your 401(k) retirement accounts lately? Here’s our advice: Don’t bother. It will ruin your whole day, week and month. Here’s why: We’ve now had seven straight months of 8%+ inflation. A year ago we were assured by the White House economic wizards that these rapid price increases in everything from groceries, to rental cars, to gasoline at the pump, to health insurance were merely “transitory.” Whoops.
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