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My fear is this. Trump's support appears to be building while Democrats are busy complaining to each other that Biden's too old. I work with guys who say, "my 401k was doing better under Trump. He's an ass but I think I'll vote for him." I'm legitimately nervous.
Yes, the stock market did so much better under Trump. There are many many reasons underlying the performance of the market under each of them.
For example most of the time trump was president was pre pandemic, but Biden was president through most of the pandemic. Trump was also president during the pandemic stimulus and enhanced unemployment payments, then Biden was president when all of that spending materialized into inflation which spooked the markets, and then caused interest rates to rise, prompting the tech layoffs
My 401k did considerably better under Trump. If that growth continued for 5-10 years I'd be able to retire quite early. But there are things that are much more important than a 401k.
(Saving for retirement is incredibly important if you haven't started yet. Please. Please. Start now! The secret sauce is time. The younger you start the better off you'll be - finger wagging PSA over)
Personally I've started three times!
Sadly retirement savings don't last long when emergency expenditures keep knocking on the door.
I'm sorry to hear that. You definitely can't save if you can't eat. I hope your situation gets better soon.
Considering 401ks are generally based on rich people getting more money, I wouldn't be surprised.
The stock market is one way the wealthy stay wealthy but that's different than a 401k, which is different than a Roth IRA.
Well of course there's differences, no one's saying it's exactly the same way in all forms and fashions. But that doesn't mean they don't have the same root, numbers on bar charts only ever going up and never coming down (which makes investors sad... and litigious). 401ks are a little more insulated from direct Stock Market transactions (depending on how you disperse it, of course), but that doesn't mean they're completely unaffected by it.
There's no guarantee that he goes to jail