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

Tbird19482 said:
I DON'T want to see anybody get hurt by all Trump's BS but if you voted for him you got what you wanted so now when it comes back and bites them in the ass they have NO RIGHT to cry about it.
And a lot of them already are.
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Yep. Spring planting has barely begun in warmer areas but already farmers are extremely worried about what markets they will have for their crops. We went to the boat and RV show yesterday. One of the RV vendors was saying that he hoped they would move most of their products this weekend because the tariffs are "going to kill us." They aren't the only ones who will pay.
 
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.
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I thought the US Constitution only gave congress the authority to tax, which is exactly what a tariff is. One man should not have the power to start a global trade war and crash the stock market.
 
TOP said:
Change was absolutely necessary.... We're all definitely awake and paying attention...;)
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The far left loons can not think beyond what they are going to have for breakfast.

The national debt is 36.2 TRILLION dollars.

The US government is projected to spend $892 billion in 2024 on interest payments for its national debt, which is more than the government is projected to spend on defense and almost a third higher than what the United States spent on debt interest payments in 2023.
 
Cypress said:
I thought the US Constitution only gave congress the authority to tax, which is exactly what a tariff is. One man should not have the power to start a global trade war and crash the stock market.
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That is FOR SURE.
Trump is and has been overstepping his authority and Congress has to wake up and stop his BS before he destroys this country.
It is finally looking like some Republicans are seeing what he is doing and don't like it.
Now if they get off their asses and do something about it.
We will have to wait and see.
 
Tbird19482 said:
That is FOR SURE.
Trump is and has been overstepping his authority and Congress has to wake up and stop his BS before he destroys this country.
It is finally looking like some Republicans are seeing what he is doing and don't like it.
Now if they get off their asses and do something about it.
We will have to wait and see.
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I think a lot of Republicans want a dictator and will do nothing to ameliorate Trump's trade war.
 
TOP said:
I'm always paying attention.... I'm sorry that you can't be more positive... I would have to be so frustrated all the time ..That being said are you involved in any special activities this month?
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I am and have been involved in a lot of " special activities " most of them helping my fellow VETs.
Who are now starting to feel the repercussions of Trumps cuts to the VA.
 
Cypress said:
If he voted for Trump, he gets no sympathy from me.
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I didn't ask about that of course, but yes, you're right. I just wonder how many ppl attending are too concerned now to want to spend big bucks on the toys they are selling there. One RV we looked at was $212K! Even the 4bys and snow machines and e-bikes and motorcycles and boats were super expensive. Hopefully ppl will figure now is the time to grab that toy before the tariffs kick in.
 
Tbird19482 said:
That is FOR SURE.
Trump is and has been overstepping his authority and Congress has to wake up and stop his BS before he destroys this country.
It is finally looking like some Republicans are seeing what he is doing and don't like it.
Now if they get off their asses and do something about it.
We will have to wait and see.
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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.
 
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.”

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None of this was a secret when trump got elected. Retirees who don't have the bulk of their money in fixed income had terrible advisors.

For people with a strong stomach, it's a great time to buy at bargain prices. Once we see exactly how much damage the flaccid orange moron can possibly do.

There are some sectors that are immune to trump's mood swings, but people who have others investing their money (funds) are going to have a roller coaster ride.
 
ThatOwlWoman said:
I didn't ask about that of course, but yes, you're right. I just wonder how many ppl attending are too concerned now to want to spend big bucks on the toys they are selling there. One RV we looked at was $212K! Even the 4bys and snow machines and e-bikes and motorcycles and boats were super expensive. Hopefully ppl will figure now is the time to grab that toy before the tariffs kick in.
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In theory, current inventory should not be affected. But we both know that isn't how things work.
 
ThatOwlWoman said:
Irony can be amusing in a sad sort of way. The MAGATs were all gleeful about the mass federal govt. layoffs which are supposed to save the taxpayers $$. But now that Trump has started a trade war, any of those alleged savings are going to have to go to bail out farmers, manufacturers, laid-off idled workers, and others who are being harmed by them. In fact, if the predicted deep recession occurs, we can expect that billions will also be spent on stimulus checks.

So much winning.
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As we see on this board...MAGAs are simply too ignorant to understand that.
 
Guno צְבִי said:
www.nbcnews.com

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

Some are changing their spending habits while others are worried about their future quality of life.
www.nbcnews.com www.nbcnews.com
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Another example of Trump voters saying "I voted for Trump but didn't expect this".

Sadly, Trump doesn't care about you, me, or them.

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