Why Is Everyone Pulling Funds Out of Their 401k In The Great Biden Economy?

[DudleySmith]

Where else do you save PRE-TAX dollars? With employer match up to a few percent. In gold under your bed? Not Pre-Tax you don't.

They would all be gone without the govt. bailouts. 'Free markets' are for poor people, not middle and upper income welfare bunnies.

 

[StoneCold]

If the Biden economy is half as good as The Banker keeps telling us, then why are people emptying out their savings up by over a THIRD?

Seems to me, that so many increasing people tapping into their nest eggs which were SUPPOSED to be there for their retirements suggests that things are getting worse, MUCH worse, and our economy is anything but sound.

If I were an investor, with the spending of Biden and the democrats, the national debt, the Biden war chest digging deeper and deeper, the looming China Problem, the Immigration problem (Biden has now invited in as many illegal unskilled foreigners we need to take care of in 2 years equal to the population of seven states the size of Montana), the banking problem, the AI problem, the degraded dollar problem, and now the looming threat of a government takeover forcing us to switch to an all electronic currency, now is the last time I'd want to take any financial risk.

https://www.cnn.com/2023/08/08/economy/401k-hardship-withdrawals/index.html

Everyone? Or just you?
Damn, the projection on this board Is over the top stupid!

 

[DudleySmith]

Everyone? Or just you?
Damn, the projection on this board Is over the top stupid!

Nobody here has ever lost their asses gambling on market stuff, no matter how deep 'Duh Markets' crash; they're all clever shrewd Jeenyuses n stuff. lol

I think the only gambler who had posted here who ever admitted to a loss was Snouter, and he doesn't seem to post here any more.

 

[Harpy Eagle]

Nobody here has ever lost their asses gambling on market stuff,

The only way to lose in the market is to sell when your stocks are down. Most people that use the market as an investment tool do not do that.