Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s

Earl said:
The sky is not falling.

It will fall in about two years if the national debt is not addressed.

Put on your big boy pants.
Click to expand...
Oh so we shouldn't do anything about Trump running the debt ? He has run it up over 11 Trillion and still raising ?
Trump has run up the national debt OVER 25% of what it was and still going up.
And MORONS like you think nothing about it IF it had been a DEM that did it you MORONS would be all up in arms,
Fact is when we have a Republican President the national debt goes WAY up and they drive us into recessions . and when we have a DEM President the debt does NOT go up as much ( except when Obama was in and he had to get us out of the DEEP, DEEP Recession ALMOST a DEPRESSION that Bush got us into. and if you look it up Economists say there is only one way to get out of a deep recession and that is spend your way out of it and that is what Obama did ) .
YEP it is a FACT if you want a recession , or the national debt to go up vote Republicans.
And another FACT our economy does better when we have a dem President then when we Have a repuke President.
 
Guno צְבִי said:
Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

“I looked at my 401(k) this morning and in the last two days that’s lost $58,000. That’s stressful,” said Victor Fettes, 54, of Georgia, who retired last week as a senior director of risk management and compliance at Verizon. “If that continues, I can’t stay retired.”

Click to expand...
OMG $58,000 in two days?

Sounds like he isn’t very diversified
 
Guno צְבִי said:
Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

“I looked at my 401(k) this morning and in the last two days that’s lost $58,000. That’s stressful,” said Victor Fettes, 54, of Georgia, who retired last week as a senior director of risk management and compliance at Verizon. “If that continues, I can’t stay retired.”

Click to expand...
Tariffs don't reduce 401k(s).
 
Tbird19482 said:
When it hits the MAGAS that voted for him I say YOU GOT WHAT YOU WANTED NOW SUFFER .
It is too fucking bad you voted for Trump and his BS and now it has come back and bit you in the ass.
You got what you wanted so now don't cry about it.
And it has ONLY started.
Click to expand...
MAGAS is not a word, Tball.
Void argument fallacy. TDS.
 
Tbird19482 said:
Oh so we shouldn't do anything about Trump running the debt ? He has run it up over 11 Trillion and still raising ?
Trump has run up the national debt OVER 25% of what it was and still going up.
Click to expand...
The President doesn't add to the debt, Tball.
Tbird19482 said:
And MORONS like you think nothing about it IF it had been a DEM that did it you MORONS would be all up in arms,
Click to expand...
The President doesn't add to the debt, Tball.
Tbird19482 said:
Fact is when we have a Republican President the national debt goes WAY up and they drive us into recessions.
Click to expand...
You cannot blame the economic depressions on Republicans. They are caused by Democrats.
Tbird19482 said:
and when we have a DEM President the debt does NOT go up as much
Click to expand...
The President does not add to the debt, Tball.
Tbird19482 said:
( except when Obama was in and he had to get us out of the DEEP, DEEP Recession ALMOST a DEPRESSION that Bush got us into. and if you look it up Economists say there is only one way to get out of a deep recession and that is spend your way out of it and that is what Obama did ) .
Click to expand...
You cannot blame the economic depression during Obama/Biden on Bush.
The President cannot initiate a spending bill, Tball.
Tbird19482 said:
YEP it is a FACT if you want a recession , or the national debt to go up vote Republicans.
Click to expand...
Go learn what 'fact' is. Buzzword fallacy.
You cannot blame the economic depression during Obama/Biden on Republicans.
Tbird19482 said:
And another FACT our economy does better when we have a dem President then when we Have a repuke President.
Click to expand...
Go learn what 'fact' means. You cannot blame the economic depression during Obama/Biden on Trump. You cannot blame the economic depression during Biden/Obama on Trump

TDS.
 
cawacko said:
I’m reading the WSJ and the headline story was about the S&P and Nasdaq records. I flip over to here and see that subject line and I was like WTF?! LOL.

AI boom carrying the market.
Click to expand...
My son's business is taking companies public. He has been the CFO of a handful of companies. He tells me he believes the economy is rolling along at a healthy pace. He believes the Trump administration has given a shot of optimism to many large corporations and venture capital firms, and his outlook for the US economy is solid.
His only complaint is the runaway spending. He felt DOGE was too hurried, and they had three years instead of three months, they could have been far more selective and thus more effective.

I don't know your beliefs as to how CA has handled the overall operation of the state, but you have a mess that is going to be very difficult to turn around.

1BEcBCx.gif
 
Last edited:
I still can't stop laughing that this thread was bumped 18 months later on the day the S&P and Nasdaq set record highs, but not in a celebration of that.

I saw this quote in a SF Chronicle article today about mortgage rates:

But San Francisco “is not just AI,” said Compass agent Helena Zaludova. The stock market “has been on a tear.” She sees buyers from finance, venture capital, AI-adjacent industries and entrepreneurs. “Often they don’t even work any more,” she said.


It's nothing new, partisans and tribal folks celebrate good or bad economic news based on whether they like the President or not. My goal is to be rich enough to be in a position to do so.
 
cawacko said:
I still can't stop laughing that this thread was bumped 18 months later on the day the S&P and Nasdaq set record highs, but not in a celebration of that.

I saw this quote in a SF Chronicle article today about mortgage rates:

But San Francisco “is not just AI,” said Compass agent Helena Zaludova. The stock market “has been on a tear.” She sees buyers from finance, venture capital, AI-adjacent industries and entrepreneurs. “Often they don’t even work any more,” she said.


It's nothing new, partisans and tribal folks celebrate good or bad economic news based on whether they like the President or not. My goal is to be rich enough to be in a position to do so.
Click to expand...
Just for the record, I don't care who the president is and I will never cheer declines in the markets or a spiraling economy. I embrace the successes of capitalism regardless of political leanings.
 
Lionfish said:
Just for the record, I don't care who the president is and I will never cheer declines in the markets or a spiraling economy. I embrace the successes of capitalism regardless of political leanings.
Click to expand...
My comment wasn't directed at you, or any individual. It's just often kind of the nature of partisan politics.

I share your belief above. I don't have F U money, so I can't afford to root for negative economic outcomes because I don't care for the people in office.
 
cawacko said:
My comment wasn't directed at you, or any individual. It's just often kind of the nature of partisan politics.

I share your belief above. I don't have F U money, so I can't afford to root for negative economic outcomes because I don't care for the people in office.
Click to expand...
I understand. There was no offense taken.
 
Economists told Trump that tariffs would be inflationary and the costs would be passed on to American consumers. Trump thinks everyone else is wrong. Only he knows how things work. He is, in fact, poorly educated because he fucked around in school. He blustered ahead with them anyway.
 
Nordberg said:
Economists told Trump that tariffs would be inflationary and the costs would be passed on to American consumers. Trump thinks everyone else is wrong. Only he knows how things work. He is, in fact, poorly educated because he fucked around in school. He blustered ahead with them anyway.
Click to expand...
I despise tariffs. I am a Milton Friedman free trade disciple (and have been told on this board that I don't care about working class people because I support free trade). So my comment is not a defense of Trump and certainly not a defense of tariffs.

When Biden ignored warnings in 2021 that his stimulus would be inflationary and signed it anyway, was that because he was poorly educated or is there another explanation for him doing it?

And interesting no one is talking about markets hitting record highs yesterday? Think people are still complaining about their 401(k)s?
 
cawacko said:
I despise tariffs. I am a Milton Friedman free trade disciple (and have been told on this board that I don't care about working class people because I support free trade). So my comment is not a defense of Trump and certainly not a defense of tariffs.

When Biden ignored warnings in 2021 that his stimulus would be inflationary and signed it anyway, was that because he was poorly educated or is there another explanation for him doing it?

And interesting no one is talking about markets hitting record highs yesterday? Think people are still complaining about their 401(k)s?
Click to expand...
While i am not saying you or anyone has to agree with Biden's stimulus strategy it was pretty near consensus that a lot of post covid stimulus was needed and he smoothie should not make the mistake, many said Obama made in not going big enough and allowing the economy to lag to long.
 
Unlike Trump who had zero reason to pump stimulus into the market in either of his terms and like Clinton could have run surpluses and not piled in the debt
 
You must log in or register to reply here.
Back
Top