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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:

When investors get their quarterly 401(k) statements in the next few weeks they’ll be hit with some bad news.

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.

The article goes on to state the following:

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 the report, the data from Munnell’s shows that 401K plans have lost around $1.4 trillion and IRAs have lost $2 trillion since the end of 2021.

One woman told FOX Business her 401(k) has “been decimated.” She said, “It’s horrible, I mean, I was thinking I might be retiring, you know, in the next year or two. And now, I don’t know. I don’t know when I can do that.”

WATCH the video for more reactions:

Retired business executive, Daniel Hill tweeted, “Biden and the Dems have caused destruction of our savings and retirement accounts on a Massive Scale.”

“Talked to two 60+ yr old friends yesterday who told me they have delayed their retirement plans and will now work longer because the Biden economy has ruined their retirement accounts.”

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To get more information about this article, please visit FOXBUSINESS.COM.

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10 COMMENTS

  1. When is this war supposed to start?
    Or should I say; when are Americans going to finally stand up and say NO MORE!!!!
    No to treason
    No to corruption
    No to Malfeasance
    Remember- These politicians are not one of us, and WE are not one of them!!!

    My hope is it doesn’t come down to shooting but hope is not a strategy is it..??

  2. I retired a little over a year ago and was living comfortably off SS and my 401k. Skip ahead to plunging stock market (my 401k is 1/4 of what it was 6 months ago), record high gas prices and highest inflation in 40+ years and me having to get a part-time job. So much for enjoying my retirement.
    FJB

  3. My 401k has lost over $35k since Jan this year! Biden is a complete piece of shit! His administration is a total joke! Worst “president” in history and it’s not even close!

  4. That was the plan from the beginning…. Destroy America from within! Obama warned us but people were too stupid or naive to think he could actually tell us the truth. We need to pray now for help from a higher source or we’re Done!!!!

  5. I’m so glad I have never put my retirement in the stock market. I invested some but never after I retired. When you get close to retirement if you are an average worker bail. People think they can build it back up again but how many years will it take? How much money do you need? Last but not least how many years are left for you? The last road (retirement) does not mean you will have the future to build on.

  6. I’m currently unemployed because it’s difficult to get a job at my age. I planned to take my retirement from my IRA in 5 years. I’ve lost $55,000 since January. Biden sickens me!!!😡

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