“The president single-handedly wiped out Americans’ retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty.”

  • @peoplebeproblems@midwest.social
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    327 days ago

    How was Thursday and Friday not a recession? I lost > 10% of my 401k in 2 days.

    It took 4 years to get to where it was since I stopped contributing right after the 2020 panic. 4 years of happily let my money do what it should, BAM wiped out in 2 fucking days.

    • @ripcord@lemmy.world
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      -127 days ago

      Get your 401k out of stocks for now. Most plans have money market or other options you can exchange for.

      • @gigachad@sh.itjust.works
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        127 days ago

        Panic drop out of the market after stocks went down some percent, great advice.

        Just do nothing and keep your rates (or however US 401k works).

        Time in the market beats timing the market

        • @ripcord@lemmy.world
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          -127 days ago

          I guess. Other option is to ride it all the way down. I got mostly out after the election. I got the rest of the way out this year.

      • @Aux@feddit.uk
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        027 days ago

        That’s the dumbest advice ever! That’s how you lose all your money. Recession is the perfect time to buy even more stocks and shares. Don’t get out, get in!