The majority of people that look at their 401K are not going to see a return of less than 7% for 2021. Most of them are going to see a return in the double digits which is well above the normal return for the last 50 years. Looking at their 401K will not be a reason to not vote for Biden unless they invested stupidly like you.
Trump vs Biden, this is why Trump is 10 times better
- Thread starter Stringfellow Hawk
- Start date
The majority of people that look at their 401K are not going to see a return of less than 7% for 2021. Most of them are going to see a return in the double digits which is well above the normal return for the last 50 years. Looking at their 401K will not be a reason to not vote for Biden unless they invested stupidly like you.
T. A. Gardner
Thread Killer
The problem here is that you have to have the wherewithal including a job that has one and the income to invest in one to do this. For the smallest savers, savings accounts, a traditional means to save your pennies, are now worthless. IRAs generally require a minimum starting investment that those at the bottom cannot afford. This is just The Rich and their crony political buddies (in both parties--that's correct, the Democrats too and they are often the worst ilk) have set this up to screw the little guy.
Vote them all out!
cawacko
Well-known member
That's on the Fed. The Fed determines interest rates. It's not politicians who put QE, ZIRP and other easy money policies in place. We can vote all politicians out of office and then what? It's not like people who run for office talk about what kind of interest rates we should have.
Take Trump for example. On the campaign trail in '16 he rightly called out the Fed for creating asset bubbles. Yet when in office he was trying to pressure Powell to lower rates (because President's only care about the short-term so who cares if bubbles pop once they are out of office).
The Fed is the driver of inequality and punishing savers.
Stringfellow Hawk
Member
Trump was 7 times Obama on returns and 9 times so far vs the idiot we have now. Idiots usually follow idiots, why should I expect more from you
T. A. Gardner
Thread Killer
And, the people on the Fed are appointed by those politicians...
And if Hitler had the same statistics...you would say that he would be a better choice?
If Stalin had the same statistics...you would say that he would be a better choice?
How about Idi Amin or Saddam Hussein or Jack the Ripper or Charles Manson?
This OP is pathetic.
The wherewithal has always been a problem. A lot of people don't think about the future so don't save. That often has little to do with earnings since I have seen people making 6 figures that are deeply in debt with no savings. About 50% of people that could contribute to a 401K are actually doing that. Biden has the right idea, 401K's should be opt out not opt in.
You can start an IRA with $100 or less. If you can't afford to save $100 in a year then you likely can't afford an IRA. FidelityGo is willing to invest the money in IRA accounts with only $10 so the problem isn't the amount of money needed to start one is too high.
Yes. IRAs need to be reexamined and restricted in the size they can actually grow to. An IRA with $100 million is ridiculous let alone one with $5 billion.
https://www.propublica.org/article/...s-into-a-5-billion-dollar-tax-free-piggy-bank
Restricting IRA size to 1000x the average US income would seem to be a reasonable amount. You don't lose it if it gets bigger than that. You just are required to move it to a taxable account.
cawacko
Well-known member
Have you ever really heard anyone running for President or the Senate talk about monetary policies and interest rates? Or talk about whether they would appoint doves or hawks to the Fed? I can't say I have. Thus simply replacing current politicians with new ones doesn't change a single thing IMO in that regard.
Most people in this country have little understanding of how monetary policy works. (Look at this board for a perfect example at how people only blame/credit President's for the stock market instead of understanding the role the Fed plays in the market). So politicians running for office aren't going to waste their time on it.
T. A. Gardner
Thread Killer
Different problem. You can't fix stupid.
As for restricting IRA's, I have no problem with people stuffing as much as they want in one. In fact, given how account growth is, I'd say that letting Social Security invest a portion of what it takes in into the stock market would be not just good for those contributing, but good for the US as that money is now being used to grow the economy instead of grow government.
The market was up over 200% over 8 years under Obama. How is that 7 times less than your claim of Trump's 63% over 4 years?
The problem you keep having is you somehow think your poor investing is the average for others. That makes you the idiot. Not anyone else.
https://www.marketwatch.com/story/s...ump-trails-only-obama-and-clinton-11611161401
Using actual metrics, the markets performed better under Obama than under Trump.
T. A. Gardner
Thread Killer
We should bring back what societies did to politicians who failed them in the 'good old days...'
Death by flaying
Death by hot poker up the ass
Death by stoning
Death by drawing and quartering
Death by public hanging
Death by beating by crowd
Death by incineration
Death by...
Well, you get the idea. With great power comes great pain if you fuck up.
PostmodernProphet
fully immersed in faith..
does anyone seriously deny that Biden is fucking up the US economy?.....
cawacko
Well-known member
Except there are plenty of people who like our easy money policies. So who is to say whether it should be more hawkish or dovish punishable by death?
Unfortunately you can't fix stupid. You can only try to make people not act quite so stupid with mandates and incentives. But as we know with masks and vaccines, you certainly can't fix stupid because people believe whatever conspiracy theory they want to believe.
Social Security has been investing what it takes in into government bonds. The problem is that the government refuses to raise the money to pay back the money they borrowed from SS. Cutting taxes means they don't have the funds required to pay off what they borrowed so they certainly don't have the money to invest it in the market.
T. A. Gardner
Thread Killer
What you propose tries to fix stupid. Better that we let it kill itself off, and the sooner the better, than try and coddle and preserve it.
That doesn't particularly help the economy. On the other hand, SS money into the market for both a better return and where it can be injected into the economy would be a boon. Companies would grow more and could produce more. That would have a positive effect on the economy as a whole in return.
SS money in the market would be more likely to create a bubble. Rising stock prices don't give companies money for ongoing operations. While it means there will be billions more in paper profits, it doesn't do that much for the economy itself other then people that feel richer may spend a little more. But then the money SS has in the market has to come back out to pay benefits. That could cause the bubble to burst crashing the market. There is no investment in the market without risk.
Stringfellow Hawk
Member
change your diaper and STFU stupid geezer
Stringfellow Hawk
Member
market up or down on average does not define rate of return dummy, the slow growth of Obama was not sustainable, hence why Hillary lost, people got their feelings hurt under Trump, now we are in that unsustainability again
Ahhh...couldn't answer the questions.
I thought so.
Go back to ass-kissing, sucker.