President Trump warns that your 401(k) could 'disintegrate and disappear' if he loses the 2020 elect
Source: Market Watch
By Shawn Langlois
How is your 401(k) doing?
With tech stocks leading the advance, the Nasdaq Composite COMP, 2.21% just broke into uncharted territory. Tesla TSLA, +13.47% took out a fresh high. So did Netflix NFLX, +3.54%. And Amazon AMZN, +5.76% reached $3,000 for the first time ever.
Whatever the current status of your retirement account if you actually have one President Trump, in a tweet on Monday, warned that any gains you might be enjoying could disintegrate and disappear in a hurry if he doesnt win another four years in the White House:
Link to tweet
Snip: Not according to strategists at JPMorgan Chase & Co. JPM, +2.52% who say that a win for former Vice President and presumptive Democratic nominee Joe Biden, currently ahead of Trump in recent national polls, would be a neutral to slight positive for stocks.
Read more: https://www.marketwatch.com/story/as-the-stock-market-soars-and-the-nasdaq-breaks-records-trump-warns-that-your-401k-could-disintegrate-2020-07-06
Renew Deal
(81,900 posts)The stock market expects big gains after Trump is gone.
IronLionZion
(45,667 posts)Polly Hennessey
(6,817 posts)FloridaBlues
(4,014 posts)401's lost already for most people over past 4 months
George II
(67,782 posts)Ohiogal
(32,196 posts)redstatebluegirl
(12,265 posts)ChazInAz
(2,580 posts)I cashed out my entire retirement policy in December, when I saw what was coming.
It had been devastated by the Bush recession, and had taken this long to get back to its pre-Bush level.
cojoel
(959 posts)Sometimes sacrifices are necessary to achieve a better outcome.
George II
(67,782 posts)MyOwnPeace
(16,955 posts)While you sat there with your golf clubs pleasuring your "special place" (Lindsey and Moscow Mitch don't like to share, by the way), I lost EVERYTHING that I had gained after PRESIDENT OBAMA rescued the economy and our country.
And, amazingly enough, those "OBAMA YEARS" should have been good to you, too, but you're too f*cking stupid to realize it!
So, NO, yet ANOTHER FAIL on your part!
Lulu KC
(2,579 posts)Make that three.
Fuck off, Trump.
chwaliszewski
(1,514 posts)keithbvadu2
(37,051 posts)Pay attention when Trump claims the economy is going down the drain if he is not reelected.
He is telling us what condition he is going to leave the country in.
Bernardo de La Paz
(49,075 posts)mobeau69
(11,169 posts)bucolic_frolic
(43,511 posts)Is Powell ok with it?
DBoon
(22,430 posts)Bengus81
(6,939 posts)How'd that work out Trump??
Mendocino
(7,533 posts)"You got a nice economy, shame if something happened to it"
Evolve Dammit
(16,818 posts)Hip2bSquare
(291 posts)I wonder who taught mr. trust fund about 401ks. He's never done an honest day of work his entire privileged life. Yeah, I'll take my chances.
wishstar
(5,273 posts)so if he got his way, which he hasn't so far, those of us Federal employees or retirees with savings in the stable Govt security fund would have had our returns severely reduced even before this quarters' reduced interest.
Orrex
(63,291 posts)RussBLib
(9,058 posts)That was my first reaction.
Trying ANYTHING to scare people into voting for him. What an example.
Skittles
(153,311 posts)flibbitygiblets
(7,220 posts)That, or my dog just farted. Nope, it's trump. I get those smells mixed up a lot.
blakstoneranger
(333 posts)progree
(10,948 posts)thru July 6 close.
https://www.morningstar.com/funds/xnas/vtsmx/quote
scroll down past the graph to the table.
Includes reinvested dividends.
The Vanguard S&P 500 index fund (VFIAX): -0.59%
Edited to update the "Thru July 2 close" to "Thru July 6 close"
onetexan
(13,081 posts)sinkingfeeling
(51,498 posts)lettucebe
(2,337 posts)Nitram
(22,971 posts)have to check his record on promises kept and predictions proved right.