Shitler's screaming "look at your 401ks" is the new

[kairos12]

I make the trains run on time.

History has seen this act before. Not so long ago.

[sinkingfeeling]

1. Well, mine took a 2% hit this week. If that continues each week

until the election, it will be gone.

[former9thward]

2. Is it taking a hit today?

Why would anyone just allow a 401k to go down week after week? You have complete control over it. You can change out of stocks anytime you wish.

[Revanchist]

6. Could be an employee based 401k.

Many of those are limited in stocks and transfer periods.

[sinkingfeeling]

7. Really it's a 403K and I've been retired for 4 years. I'm drawing a

RMD each month.

[former9thward]

9. I believe your fund is a 403 b not 403 k.

But no matter. 403 b's offer a money market fund which has almost no risk. But along with no risk there is little gain. The stock market has never been a one way street.

[proActivist]

11. That would not the best strategy

if you don't actually need the money for a few years. Consider the down turn a buy opportunity.

[former9thward]

12. Of course

The point is however that if you really believe the market is going to do nothing but go down then you do have alternatives. No one is frozen in these type of accounts.

[Revanchist]

3. If we do wind up in a recession close to the election

This will make one hell of a sound bite

[IcyPeas]

4. how many Americans even have a 401k?

[mahatmakanejeeves]

10. Let me Google that for you.

Does the Average American Have a 401(k)?

The answer might surprise you.

Maurie Backman
(TMFBookNerd)
Jun 19, 2017 at 6:29AM

There's a reason 401(k) plans are a popular choice for those looking to set aside money for the future. Not only are contributions traditionally tax-free, but because they're deducted directly from earnings, the process of funding a 401(k) is as seamless as can be. That's why it's surprising to learn that the average American does not, in fact, have a 401(k) -- especially given the number of employees who have the option to participate in one.

How many companies offer 401(k)s?
According to data from the U.S. Census Bureau, only 32% of Americans are saving for retirement in a 401(k). Granted, that owes partly to the fact that 401(k)s are employer-dependent, and not every company offers one.
....

[Moral Compass]

5. He ought to stay away from statements like this....

I look at my 401K(s) all the time.

Trump may think everything is hunky dory, but the numbers tell a different story.

The uncertainty he has created has caused my two accounts to flatline. They go up. They go down. But the trend since Trump usurped the Presidency has been a flat line.

This volatility is because this shitcake never shuts his fucking mouth and has created so much uncertainty that investors don’t know whether to shit or go blind.

Only thing I’ve made money on in the last 12 months was an OTC Canadian cannabis stock the went from .36 to .74. Wish I’d owned more.

If he thinks this is making the 401k investor happy he doesn’t understand anything. Which, of course, is the case.

[Fritz Walter]

8. I'm lucky

Years ago, my investment advisor at my Credit Union put the contents of my retirement “buckets” — numerous 401(k)s, 403(b)7s and a decades-old IRA — into a bonds-based annuity “barrel.” I’m guaranteed a well-defined (and growing) monthly distribution. If the annuity outlives me, my estate gets to cash it out for what’s left (balance minus distributions to date). No fees, unless I cash out before it matures next year. Contrast that with the fees that so many 401(k) plans and IRA accounts charge.

OK, guaranteed rate of return is 5.5% annually. But the key word here is guaranteed. Unlike stocks, mutuals, index funds, and other investment options.

This advisor took her fiduciary responsibility very seriously. Until she retired.

My luck includes:
• getting the message to save for retirement while I was in my 20s: “most seniors don’t plan to fail, they fail to plan”;
• the ability to sock away for retirement the same amount as I (used to) pay for cable TV; and
• having the discipline to avoid raiding retirement savings for other purposes (buying a home or car, taking exorbitant vacations, running up massive credit card debt).

I’m still going to take a beating with this upcoming recession, but I’ll survive.