Americans work decades so that one day they will be able to retire and live out the rest of their days in a stable happy place. That is a key essential to the American dream.
The policies of the elites have destroyed this.
Over $3 Trillion in retirement savings have been wiped out by the stock market’s drop.
The U.S. stock market rout that has put U.S. equities in a bear market isn’t just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It’s also taking a toll on Americans’ retirement savings, wiping out trillions of dollars in value.
The selloff has erased nearly $3 trillion from U.S. retirement accounts, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. By her calculations, 401(k) plan participants have lost about $1.4 trillion from their accounts since the end of 2021. People with IRAs — most of which are 401(k) rollovers — have lost $2 trillion this year.
This year’s stock slump is the most severe market downturn since March of 2020, when COVID-19 erupted in the U.S. Historically, 401(k) investments take about two years after a market decline of this size to regain their previous value.
The Stock Market is now down below where it was when Biden took office:
This didn’t have to happen and everyone knows it.
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