Meet the Trump Voters Downplaying Hits to Their 401(k)s
Meet the Trump Voters Downplaying Hits to Their 401(k)s
From the Wall Street Journal. Select quotes, rearranged for maximum irony:
The average 401(k) balance was $131,700 at the end of 2024.
“What’s more important to me than having a few extra dollars in my retirement is that this country is set up for success,” Paris said.
The couple have lost $70,000 in retirement savings since January.
“He’s doing some hard work, some things that are very difficult for people to understand and difficult for people to accept,” Williams said, “but it’ll be to our long-term benefit.”
Meanwhile, the share of Americans who haven’t retired and are confident in their retirement prospects fell to 67% from 74% the prior year.
She said she takes solace in the fact that Trump is surrounded by a cabinet full of handpicked experts whose advice she thinks could help avoid further losses.
She said she takes solace in the fact that Trump is surrounded by a cabinet full of handpicked experts whose advice she thinks could help avoid further losses.
... out of their fucking minds...
Was about to comment almost exactly this.
His "experts" are all cronies - and they're not even slightly interested in the plight of the people, including the retirement prospects of 71 year old Mrs. Redlich.
Having any faith that Trump's administratiom will do anything except line their wallets with tax payer money and do their upmost to fuck over Ukraine is morbidly stupid.
It's worse than that. Most of his cabinet picks are not only not experts in their assigned fields, not even knowledgeable in them, but are actively antagonistic toward them. They wish to limit, downsize or outright destroy the departments under them, or else twist them so severely that they are essentially the polar opposite from their intended purpose. They sure as shit are not here to fix anything. They're here to actively break things they hate.
So far into the Kool-aid she might as well just go to Jonestown
Respectfully, I feel I must disagree. I believe the beverage served in Jonestown was Flavor Aid, rather then Kool-aid.
Regarding your other point, yeah, she's staunchly in favor of Coco Puffs.
These people are so delusional.
And wealthy. That they could lose 70k and not feel anything, tells us that they're wealthy.
Hard to feel much over the pain of having your own head in your ass
Yes, they are.
To add some context to this headline, I estimate that 401k to be well into the seven figure range if it lost $70k since January. That's just a guess based on the changes I've seen in my own account, though.
Based solely on DJIA's YTD loss of 2.35%
$70,000/0.0235≈$3,000,000
It just depends on the portfolio. Some stocks in mine have lost 25-30% for reasons entirely attributable to Trump.
this is what a political cult looks like.
Any cult, really.
That's a funny way to say stupid!
I know people like this. Some are intelligent, but the propaganda they consume warps their minds. They are engulfed in it and it is difficult to throw out all the sources they trust.
No, delusional is the right word. You can be mind numbingly stupid but still see cause and effect; food prices going up after his inauguration is a very basic and tactile thing.
Delusion is taking that lived experience and warping reality to fit your mental narrative.
copium as well.
So much cognitive dissonance for most of them, very very few of them will ever admit any mistake of theirs or his. They'll just sort of tap dance around the failings
They're in so deep that they'll take any life buoy that their feed/infowars/fox news throws. Its like an automatic reaction they're conditioned for.
The least shocking thing in this article is retirees in denial. Mental gymnastics is their full-time job; not like they've got anything else to do.
I honestly think the vast majority of them don't think any mistakes have been made. They don't know how fucking awful his cabinet is, etc.
They FAFO but never actually learn. That's why elections are not about teaching people they were wrong.
but never actually learn.
Then they're not FO'ing.
They do FO, but then they blame anything else but themselves, their cult, the conservative ideology, or their cult leader.
Remember: conservatism can never fail anyone, it's only people that fail conservatism. It means we have to do it even harder. If "doge" fires 50% of government and things are a total hellscape and their 401Ks go to 10% of what they were before, it's because "doge" should have cut 90% of government employees.
She said she takes solace in the fact that Trump is surrounded by a cabinet full of handpicked experts whose advice she thinks could help avoid further losses.
🤣 🤣 🤣
That's next-level stupid.
Probably shouldn't focus on the short term stock movements.
If the Fed turns on the money printer, the stock prices will go up.
I would point to prices of housing and groceries, because that will not go down if the Fed turns on the money printer.
I sold off all my stocks and etfs, but my 401k is still there and is STRUGGLING. It wasn't much to begin with but damn it's getting fucked both ways and back
Mine has wiped nearly 6 months of growth. And it's fairly diversified.
Since he won the election in November, in spite of putting in over $1k with employer match every month my balance has actually gone down. This is fucked up.
Its fine though, because Social Security is a ponzi scheme, pensions hurt the company's bottom line, and everyone knows the stock market only goes up, so everyone should just have a 401k.
Spoken from bizzarro world / Republican voters for the last 40 years untill this very moment, apparently
I am pointing and laughing at anyone who voted for this and is now being hurt by it. I have zero sympathy. Absolutely none whatsoever. It’s a sociological Darwin Award, more or less.
lol