If the 'My 401k' trend is ANY indication, Democrats are in seriously DEEP cr*p come November (here are some of the ANGRIEST tweets)

Twitchy.com ^ | 4/24/2022 | Sam Janney

[CatOwner]

Look at the bright side for 401k balances. Lower balance means taking a smaller RMD, so you pay less taxes. Biden’s giving those over 72 a tax break.

This year's RMD is based on *last* year's value on December 31, 2021. For mosts, their investments were worth a lot more than they are now. If you are still waiting to take an RMD in 2022, you get to lock in the loss of value since that date.

[Mr. Jeeves]

It isn’t so much about mistakes - 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.

But Wall Street has made incredible profits off of the 401(k) - because that is who it was designed to benefit.

Today’s structural problems are bigger than Biden - but the foolish Green Utopians who own and operate him have made those problems much worse than they had to be.

[bray]

Why should anyone in DC care about working people?

[Theophilous Meatyard III]

Preparing for the Red Tsunami ...

And prominent Rat fraudsters locked up for their misdeeds.

[damper99]

Yeah, should have said “tax break for next year” since 2023 RMDs will be based on the value at this year’s end.

[EQAndyBuzz]

I had to stop looking. Too painful. Went from a retirement age of 62 to 70 in little over 18 months. Like everything, I know it will bounce back. However, if the rats hold congress and the senate, I’m cashing out what little I have left, finishing my MBA from work and next spring I’ll look at a friendly country where I can be an expat and hopefully I can work remote.

Between that, my VA, being an adjunct and what little I would get with SS, I should be okay. Now the question is, how do I get the little woman to go along with it?

I’m tired of this.

[Skooz]

Your 401k is racist, you bigoted, transphobic, colonialist, xenophobic, defender of the cisheteropatriarchy.

Shut up and eat your bugs.

[38special]

I’m certainly expecting shenanigans in Pennsylvania and Michigan

[dljordan]

They’re going to pull something. They have emergency orders out the wazoo they can bring to bear. Now they want to give WHO the power to declare a pandemic in our country.

[MayflowerMadam]

“Preparing for the Red Tsunami, November 8, 2022.”

Really? Do they look scared? They look about as scared as they looked when PINO Joe was (not) campaigning from his basement. Something is up — again.

[dynachrome]

Donate to FR. You get a better return.

[TexasFreeper2009]

Biden is not on the ballot this year. People need to stop saying Biden when talking about how bad things are and replace it with “Democrats”.

Biden is simply implementing Democrat policies. And the only way to stop that is voting Democrats out of power in November and give congress over to the Republicans would will stop their agenda.

[Aevery_Freeman]

A metaphor for our nation...too many riders

[Redplum]

You are exactly correct and the echo chamber in here is deafening. People are refusing to face reality.

There will be no more Red Waves, not in November and not ever. The blueprint was proven in 2020 and it will be shoved into overdrive this time around.

[maxwellsmart_agent]

The democrats have shrunk my retirement account almost in half. VOTE REPUBLICAN!

[rockrr]

Mine is a gone 01(k)...

[Bon of Babble]

We also have to factor in - along with voter fraud - the 5 million illegals who have freely crossed the border since the Biden admin.

All have been registered as Democrats.

[Leaning Right]

> the 401(k) simply can’t work as a simultaneously growth-oriented and safe retirement vehicle <

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.
It works for me. But I do worry about what I’m going to do once I’m over 100 years old. 🙂

Anyway, many mutual fund companies now offer funds that automatically get less stock-heavy as you get older. That makes sense too.

[plain talk]

“My neighbor who proudly had a Biden sign out was complaining to me yesterday about not being able to buy a car because your 401(k) is so low.”

LOL. Yeah as long as the MSM covers for them they will continue with these suicidal policies.

[Lazamataz]

I had to stop looking. Too painful. Went from a retirement age of 62 to 70 in little over 18 months.

I will be able to retire when I fall over dead.