Biden economics has devastating impact on retirement accounts
Fox Business:
Retirement accounts lose trillions in stock rut
Americans are feeling the pain when they look at their 401(k)s
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The S&P 500, the broadest measure of U.S. stocks, is down 21%, the Nasdaq nearly 30% and the Dow 16% so far this year, and Americans are seeing the value of their retirement accounts dwindle along with the drops.
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Alicia Munnell, director of the Center for Retirement Research at Boston College, wrote in a blog post this week that retirement plans have collectively lost upwards of $3 trillion since the beginning of January.
According to Munnell's latest data, 401(k) plan participants have lost about $1.4 trillion from their accounts and IRAs have lost $2 trillion since the end of 2021.
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These look like depression-era losses in investment accounts. It is giving investors more reasons to vote against every Democrat on the ballot.
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