Financial wiz says the drop in the stock market ‘literally means nothing’ to the average American

Financial wiz says the drop in the stock market ‘literally means nothing’ to the average American

On Friday, we learned that the Dow had plunged to its lowest level since November 2020, falling by more than 800 points at one point. Earlier, we reported how tweets about “my 401(k)” indicated that Democrats are in deep trouble this November. President Joe Biden thinks things are swell, though.

The Inflation Reduction Act will save working families hundreds of dollars a year on energy costs thanks to tax credits and rebates that’ll help folks buy new efficient appliances, weatherize their homes, and more.

— President Biden (@POTUS) September 23, 2022

That tax credit on your new $70,000 electric car will help you save every time you drive past a gas pump.

So it makes up for this or nah pic.twitter.com/VRrP1pa2MK

— ⚒️NickyZee⚒️ (@nickzbutcher) September 23, 2022

Please … the plunge in the stock market means nothing to the average American:

To the average American this literally means nothing. Before you start barking about 401ks, most of those who have them are 20 to 30 years away from retirement. So, any other empty gaslighting that you want to throw out there?

— Mike Darling (@mikedarling177) September 24, 2022

My 401(k), which is very conservatively allocated, has lost 20% of its value since inauguration day 2021. This despite actually increasing contributions.

I’m 62. That money is gone, with no time to recover it.

And I really sorta feel like an average American.

— Suburban Sheepdog (@RobertKuntz) September 24, 2022

Well my parents were planning on retiring soon. Now they can’t. It seems like that’s a big deal.

— Justine (@BruinJustine) September 24, 2022

I think you’ve got the empty gaslighting covered with your reply here.

— The Underhill’s Tab (@bfmva7xsp) September 24, 2022

I’m losing twice the amount of my contributions. #BuildBackWorser

— Dale Ford (@JesusMetal1689) September 24, 2022

What kind of idiot are you? Current retirees are living on them & I am 15 years away. Biden has completely fucked up my plan after the anemic growth when he was VP. Clinton, Bush 2 & Trump it did great. Sit down moron.

— Stacey – Radical Federalist (@ScotsFyre) September 24, 2022

Are you really this stupid? Plenty of people retiring in the next few yrs. Anybody w/in just a few years of retirement is severely hurt when their 401(k)s take a dive. Very little time left to allow those accts to recover before they need to start withdrawing $$ for retirement.

— Lady L. North 💙❤️🏀 (@LadyLNorth) September 24, 2022

Darling, my 401(k) lost more than 30%, even with continued funding, just this year. I don’t have 20-30 years to recoup that.

— 🇺🇲GrandMomsterMel🇺🇸 (@MomsterMel) September 24, 2022

Gaslighting? 20 to 30 years and you are screaming gas lighting. Lol.

— Dog guy (@Catsorange1) September 24, 2022

I’m very sorry, but we have a 401(k) and we are already retired.

— 🇺🇸 USMC Lady Vet (Redacted) (@Arkypatriot) September 24, 2022

79 year old retiree here…means a lot to us!!

— Proud Texas Girl (@proudtexasgirl) September 24, 2022

I’m thinking I don’t have 20 years of life left, but thanks for the warning about gaslighting.

— Pedro Disaster (@PedroDisaster) September 24, 2022

Hi there. Average American here. I’m at retirement age and my retirement plan has dropped more than 30% in value. So, shut the fuck up about people being 20-30 years away. I still work so I don’t have to pull from my retirement plan right now. There’s more of us than you know.

— Kang Of Seattle🙄 (@KangofSeattle) September 24, 2022

Holy cow. You are out of touch. This is a huge deal to me and millions of others who are already retired. Inflation stock market crash has reduced my savings by 18%.

— Ferraris (@turningabout) September 24, 2022

“Most are 20-30 years away from retirement.”

Dude.

— civil-libertarian (@civillibertari2) September 24, 2022

The tail end of the largest generation in American history are entering their sixties

— Ben James (@Ivebenjames) September 24, 2022

What a ridiculous thing to say. For those of us planning to retire in the next 5-8 yrs, this isn’t the first time we’ve had to recover from crazy Dem financial disasters. This is the 3rd for me and there isn’t much runway left to recover the losses.

— katymom (@debross123) September 24, 2022

when the “failed businessman” was running things, my 401k was in MUCH better shape. I’m 63. I’ll die at my desk. pic.twitter.com/mxoYPOcIMr

— BuckFiden (@jenntenn) September 24, 2022

Movie nerd, not a financial planner?

Oh, Darling, bless your confused little heart.

— Chuck Sperling (@chuckontheright) September 24, 2022

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Editor’s Note:

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Related:

If the ‘My 401k’ trend is ANY indication, Democrats are in seriously DEEP crap come November (here are some of the ANGRIEST tweets)https://t.co/4Sa5LCwCd4

— Twitchy Team (@TwitchyTeam) September 24, 2022

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