Looking To Retire? Here Is What Inflation Has Done To Your 401(k)

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ptif219

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You can thank Biden for your retirement account not keeping up with inflation

https://dailycaller.com/2023/12/06/retire-inflation-401k/


Americans’ retirement savings have been hit hard by sky-high inflation under President Joe Biden, culminating in thousands of dollars in losses per person, according to a new report from the Committee to Unleash Prosperity.

When both declining real stock indexes and high inflation are taken into account, the value of Americans’ 401(k)s declined on average $33,200 in real terms, or 24.8%, since Biden took office in January 2021, according to the report. The losses follow declines in real purchasing power due to high inflation, which has also led to inflation-adjusted losses in major stock indexes that 401(k)s are tied to.The average 401(k) retirement plan, owing to real stock declines, has lost around $17,000 since Biden first took office in January 2021, or 12.7%, equating to losses of around $1 trillion cumulatively for Americans when accounting for additional investment, according to the report. From the first quarter of 2021 to the third quarter of 2023, the major stock indexes DIJA, NASDAQ and S&P500 have declined 12.5%, 3.1% and 7.0%, respectively, in inflation-adjusted termsInflation reached a peak under the Biden administration in June 2022 at 9.1% year-over-year, slowly decelerating to its current yearly gain of 3.2% for October, far higher than the Fed’s 2% target. Americans’ 401(k)s have lost around $16,200 since Biden took office, just from inflation-linked depreciation.

The amount in pension funds for Americans increased by $500 billion since Biden first took office, but due to inflation, it has declined 12.1% in real terms, equating to around a $3.3 trillion loss, according to the report. Retirement accounts relying on bond markets are especially hard hit, following exceptionably poor performance under Biden, particularly in 2022, which was the worst year for bonds since 1928.
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Guno צְבִי;5881456 said:
The Daily Caller is a right-wing news and opinion website based in Washington, D.C. It was founded by former Fox News host Tucker Carlson and political pundit Neil Patel in 2010. :palm:
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That means it is far more truthful than Democrat run liberal media sources
 
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