Have you taken a peek at the balance in your 401(k) retirement accounts lately? Here’s our advice: Don’t bother. It will ruin your whole day, week and month.
Here’s why: We’ve now had seven straight months of 8%+ inflation. A year ago we were assured by the White House economic wizards that these rapid price increases in everything from groceries, to rental cars, to gasoline at the pump, to health insurance were merely “transitory.” Whoops.
The most immediate sticker shock from Bidenflation, of course, has been to shrink real take-home paychecks of workers. We have calculated that over the past 20 months, this rise in consumer prices over wages means that the average family in America has lost nearly $6,000 in purchasing power. This from the Lunch Bucket Joe president who promised to help boost the incomes of the middle class. When, exactly?
But this pay-cut effect on family incomes is only part of the curse of runaway inflation.
We’ve just completed an analysis of how the highest inflation rate in almost 40 years has impacted the retirement funds of ordinary Americans. Here is what we found.
This was initiated by Pedo-Slow-Joe signing away our energy independence with his spate of anti-Trump executive orders within the first few days of his installation.
It’s really hard to believe that there are that many people that actually voted for the basement campaigner – especially after what happened during the Turd years!
Time to throw the Democrat Criminals OUT of our Govts !!!!!
Try living Loosing $$$ 34K !!!!!
Not to mention the vacancy announcements in OC for DPW folks. Starting in the low $30’s. Or Assateague Island Forester starting in the low $30s.
They can shove it !!!
Maybe the IRS will send out checks to everyone for $34 K !!!!!
And you can’t write it off unless you are a company !!!
Riots on the way like the Vietnam War all over again !!!!
Biden has Bank-Rupted Americans & time will show soon How Many !!!! No way can Middle class survive !!!!
Credit cards alone will Ruin Americans
Interest rates on everything will too
Food prices & on everything else will too
Gas & Oil define the economy & prices & life survival
Green is only a Democrat Lie to steal taxpayer $$$$ for themselves
Have to make a way to FIRE dirty politicians on the spot like any other job
take powers from congress & the white house that are excessive
fix elections all states to prevent any more coups & cheating
I have lost over 20% value of my mutual funds this year
Hmm,
what might George Washington do ?
What did President George Washington discover to win more battles ?
Stock market will crash like 1929 !!!! Wait & see
I am now using my IRA money to make ends meet. This is not what I skimped and saved for retirement for. Didn’t have all that much to begin with and will end up with nothing. I have cut every corner possible and am a frugil old retiree. For what? I should have had some fun on my money instead of losing it to that senile old bastard.