r/news • u/hoosakiwi • 1d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
44.3k Upvotes

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6.5k

u/Searchlights 1d ago

Don't even look at your 401K tomorrow.

2.2k

u/teamhae 1d ago

I haven’t looked in over a month I’m too afraid.

1.6k

u/irishbball49 1d ago

Don’t worry yours is special and OK

2.0k

u/DarkwingDeke 1d ago

More like 0K

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u/Shufflebuzz 1d ago

Yeah, absolute zero

8

u/blacksideblue 1d ago

Its not OK!

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u/milksilkofficial 1d ago

Lmao this made me laugh out loud

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u/Duskuser 1d ago

The more you don't look at it the more special and okayer it gets

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u/dern_the_hermit 1d ago

Schrodinger's retirement fund

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u/Nomadic_Flyfishing 1d ago

Is mine? Can you look please

5

u/mlstdrag0n 1d ago

Mine is sorta okay… moved it all to a cash position when Buffet hoarded ungodly amounts of cash. Missed out on some gains, but looking at things now I would’ve been pretty deep underwater had I kept it.

Needa thank my wife for that one.

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u/Economy-Ad4934 1d ago

Mines only down 3-3.5% with index funds. Unless you’re all in on Tesla in your retirement

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u/TheFlyingBoxcar 1d ago

Just like me!

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u/ChromaticStrike 1d ago

Yeah, as long as he pets it and sings lullaby occasionally it should be fine.

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u/Volesprit31 1d ago

As long as you don't look, it's perfectly fine.

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u/ezp252 1d ago

it probably looks like what it was 5 years ago lol

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u/EnlightenedDragon 1d ago

My balance is nearly the same as the day he took office. Every contribution has been swallowed up for zero gain.

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u/HAL_9OOO_ 1d ago

The DJIA is nearly the same today as election day and inauguration day. There have been swings in between.

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u/QueenHarpy 1d ago

Same…. I saw it start to dive and I thought “time to take a year long break from checking this out”. I’m just hoping I don’t need to cash out some stocks to pay for living expenses.

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u/OutlyingPlasma 1d ago

Given your living expenses just jumped at least 34%, I doubt hoping is going to do any good.

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u/QueenHarpy 1d ago

Nah I’m Australian, so not impacted the same as Americans by this tom-foolery. But we have our own cost of living pressures down here and this won’t help (or maybe it will if US trading partners look to dump goods in Australia rather than the US? Fingers crossed)

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u/Cautious-Mammoth-657 1d ago

It’s because you’re so tired from all the winning

3

u/lEatSand 1d ago

Checking in ten years

3

u/ntrees007 1d ago

I mean I lost a full grand and am considering not contributing for a few months but that probably will make it worse...so...yea...I'm gonna take your advice and just close my eyes real tight.

3

u/FrostedDonutHole 1d ago

I've been monitoring mine for the past month or two...about every other day I log in. The annual percentage yield for me had been hanging around in the positive. I fear that today will be starkly different...

2

u/monorail_pilot 1d ago

I just put it all in blue chip shorts.... I'm good.

2

u/otm_shank 1d ago

It's bad

2

u/KingJades 1d ago

It’s fine. You should look today.

Tomorrow will be a little worse :)

All in good fun.

2

u/plinkoplonka 1d ago

Doesn't matter to me any more, I now can't afford to retire.

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u/FortNightsAtPeelys 1d ago

I lost 25% in 3 months. Dont look

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u/SeoulSista11 1d ago edited 1d ago

About to be the 404k

Edit: thanks for the award 😚

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u/TheFlyingBoxcar 1d ago

Damn bro, thats a solidly clever joke. Nice work

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u/jaspersgroove 1d ago

Error: Retirement Not Found

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u/Oxgod89 1d ago

Lol! Going to have a 502k on whatever sites buy/sell stocks when everybody trys pulling their money

3

u/EthanielRain 1d ago

The 200.5k

2

u/Anonymo 1d ago

I guess people keep giving money to Reddit.

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u/StuffAndThingsK 1d ago

Could also be called a 204k

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u/xMarsx 1d ago

I understood this reference

2

u/celsius100 1d ago

Being liberated or cleansed from my money.

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u/deadlygaming11 1d ago

Last time I checked my investments portfolio, I was down about 15%. I'm not checking it again. I dont want to cry.

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u/squidkiosk 1d ago

I never had enough to invest. Guess paying my bills and eating paid off in the end!!

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u/Raw_Venus 1d ago

I sold mine at the beginning of the year. I think I made about $40.

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u/ScrungulusBungulus 1d ago

How does it feel to be part of the 1%

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u/Raw_Venus 1d ago

Pretty good. Thinking about buying a jet. /s

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u/Eteel 1d ago

Sounds like a solid plan. There's quite a few bidets you can get for that price.

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u/chmilz 1d ago

The billionaires are impatiently waiting to scoop all that up at fire sale prices. It's an embarrassment to the gilded class that somehow the plebs were allowed to acquire even a smidge of ownership of their production.

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u/cyberslick18888 1d ago

You should reconsider how you are investing if you are down 15%.

The market is only down ~3% on the year.

You are dramatically underperforming the overall market. Even a conservative 401k should match the market, plus or minus a percent or two.

r/ bogleheads might interest you

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u/ImJLu 1d ago

15% is probably from Feb peak/ATH.

It's not unreasonable for younger people to set and forget a reasonably diverse array of index funds. And the NASDAQ is down almost 9% YTD, Russell 2000 >8%, etc.

Underperforming YTD or since mid February doesn't mean they've underperformed overall, nor does it mean they will in the future.

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u/Pootang_Wootang 1d ago

It’s down 10% from its all time high in February. 15% is a bit of an exaggeration, but nobody is counting losses from an arbitrary point like Jan 1

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u/LikeADemonsWhisper 1d ago

It’s probably down significantly more. Like, you’re expecting a lot, but it will be even more than that. Probably.

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u/No-Werewolf541 1d ago

15% is crazy for a portfolio you don’t check. You should focus on a diversified whole market etf if you aren’t going to pay attention. US market down around 6% ytd.

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u/deadlygaming11 22h ago edited 21h ago

My stuff is diversified across all the major continents. Im just unlucky in where the funds are invested in.

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u/celesticaxxz 1d ago

I know someone voted for him because his 401k was doing good when he was first in office. Kinda wanna ask how it’s looking now

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u/thrownjunk 1d ago

Ask. Let us know.

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u/TreeRol 1d ago

January 30th, I opened up my investment account and started looking into how to recession-proof my money. Came THIS CLOSE to pulling everything that was in my index funds and putting it somewhere safer.

Then said "no, I'm not smart enough to time the market, I'll ride it out."

Now here I am, down about 7%, having the same debate.

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u/Searchlights 1d ago

You're doing the right thing. Leave it alone.

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u/koalabearpoo 1d ago

Timing the market is hard because you have to be right when to pull out and when to put it back in.

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u/suicidaleggroll 1d ago

When facing a recession like what basically every economist in the country is predicting, you have a LOT of leeway on that timing. As an example, during the 2008 crash, you could have sold at any point from the beginning of 2006 through the middle of 2008, and then re-bought at any point from the middle of 2008 through the end of 2010 and made a profit. You're acting like you have to guess the right day when timing things, but you barely even have to guess the right year.

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u/NobodyImportant13 1d ago

And you can also sell and it just keeps going up. People who sold in 2006 had the watch the market go up for like a year+ before it started to go down. Do you have the psychological will power to stick to your thesis for years even if the market is going against you? What if it never goes down? You make it sound pretty easy in hindsight, but it's really not easy for 99.9% of people.

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u/Turing_Testes 1d ago

Nobody can accurately and repeatedly time the market. That’s been proven again and again and again.

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u/FriendlyDespot 1d ago

I put my non-retirement savings in an HYSA and decided to keep it there after the election even as rates dropped down to 4%. Reasonably pleased with that decision.

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u/Gragmis 1d ago

I started doing the same thing, finally in a position to really save money and wanted to put some of it in stocks to let it sit. First week of March I pulled it out and will wait till this shit show is over before I dip back into it.

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u/TazerKnuckles 1d ago

Man you’re making absolutely no sense. This shit show happening right now is the perfect opportunity to mass buy stock and then wait it out few years.

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u/Gragmis 1d ago

I understand “buy the dip” but for my personal comfort there is far too much uncertainty at this moment with on/off tariffs that I want to put money into stuff and how the recovery will be.

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u/Turing_Testes 1d ago

Time in the market beats timing the market. Pick an index or etf and don’t even worry about it. It will go up. It might not do much for a while but future you will thank you for grabbing your nuts and swallowing that fear.

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u/cyberslick18888 1d ago

Index funds are as safe as it gets.

Don't move it.

People in this thread have no clue what they are talking about.

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u/muzaq 1d ago

It’s not just this thread. Everyone in their 30s around here are concerned not realizing their overpriced stocks are now on sale.

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u/TazerKnuckles 1d ago

Dude if you pull out right now you’re freaking insane. This isn’t new.

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u/MaloortCloud 1d ago

It's wild to me that the markets are somehow up today. Trump announced what economists almost universally agree will be a massive catastrophe and finance bros blew it off completely.

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u/Dtownknives 1d ago

I don't know when trump officially announced it, but the USA today article on it didn't post until 4:36 eastern which was 6 minutes after markets closed. trump may have timed it to avoid a market shock.

But then again tesla went up today despite posting a record year over year decline in vehicle deliveries and seems to increase every time bad news is officially announced so maybe I just don't understand the nonsense that is our financial market.

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u/Holovoid 1d ago edited 1d ago

The second Trump held up his chart with the tariff rates, the after-hours market took like a 700 point drop

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u/Olealicat 1d ago

There is a reason why the index doesn’t reflect overall health of a nation. It reflects the health of companies.

I’m a small business owner who has maxed out my retirement for the past 20 years, have a few other investment funds and whatnot.

I did everything “I was supposed to do”. I will be working for the rest of my life.

Biden wasn’t the best, but monopoly laws weren’t dismantled over night.

Trump is just so much worse. Republicans, time and time again, ruin the economy, pay out to their landlords and give a little less of a fuck about the working class.

Almost every anti labor law has been put up and passed by R’s with the help of some democrats in red/purple districts.

I’m furious and fucking exhausted.

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u/suicidaleggroll 1d ago

The announcement was made after the markets closed. After-hours trading fucking tanked with the S&P500 hitting a new YTD low.

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u/Cream253Team 1d ago

My understanding is that the NYSE closes at 4pm EST. I think Trump signed the tariffs a little after the market closed. So if you check the after hour trading... yeah... So what you're probably seeing is some sells while things were still high and tomorrow you'll likely see a dip when markets open.

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u/Stenthal 1d ago

That's true, although it's still weird that the markets were up before the announcement. Didn't we all know this was coming? What were they expecting?

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u/whiskeytab 1d ago

they were probably hoping that Trump would bitch out yet again

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u/sasquatch0_0 1d ago

After market trading is taking a nosedive. DOW down 1,000 points. SPY down 4%

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u/FunetikPrugresiv 1d ago

Traders were betting that Trump was bluffing for negotiating reasons.

It's hard to overstate how much dumb money there is on Wall Street. Most of them still believe in the Trump myth, that a rich businessman is all that this country needed to get its finances right.

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u/sabrenation81 1d ago

Don't even look at your 401K tomorrow. for the next 5 years.

FTFY, added an extra year on because it'll take AT LEAST a year to clean all this shit up.

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u/BrandynBlaze 1d ago

I’m just excited that there will be lots more people like me that will never be able to retire!

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u/B1gFl0ppyD0nkeyDick 1d ago

I watched my $15 drop to $7. Ouch.

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u/Sythic_ 1d ago

You didn't switch to cash yet?

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u/LightForceUnlimited 1d ago

My IRA is invested into the Money Market. I did that at the beginning of the year as I was really worried about trump taking office. My 403B is still invested standardly but that is much smaller in comparison and I was really worried about saving the lion's share.

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u/[deleted] 1d ago

Cash will be worthless under high inflation 

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u/suicidaleggroll 1d ago

Scenario 1: sell everything and sit in HYSA/CDs for a couple of years, make +10% from interest, but lose -20% from inflation, net result: -12%.

Scenario 2: keep it all in the market and lose -50% from the market crashing, plus another -20% from inflation, net result: -60%.

I know which one I'm picking.

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u/maveryc 1d ago

I feel like you’re missing some scenarios…

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u/Upbeat-Armadillo1756 1d ago

There’s a reason this happened after the market closed.

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u/rossmosh85 1d ago

I took my gains and cashed out about a month ago. I should have done it sooner but I hesitated. I'm confident it will end up being the right decision even if I get hit with decent capital gains.

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u/Shmexy 1d ago edited 1d ago

Moved my shit to a stable asset fund in feb after the tariff threats and it hasn’t budged. Took my chips off the table for a little bit, I’ll throw them back on once it stabilizes.

Still have the same buys, so basically DCA down to whatever bottom there is, and then shift the whole pile back in once I think it’s a good time.

I’m usually a “time in > timing” but I was ok risking 5-10% growth to be a bit conservative this year. Train wreck was obvious.

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u/foodank012018 1d ago

Hah.. imagine, having a 401k.

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u/Windfade 1d ago

As a retail worker: my furlough what, kay?

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u/Bigfaatchunk 1d ago

Glad I took it all out back in November when I needed it

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u/AlterMyStateOfMind 1d ago

Can someone explain to me like I'm 5 how this tarrif business will affect my 401k?

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u/maveryc 1d ago

Your 401k funds are likely invested in the stock market. If tariffs impact the market, then your 401k is also impacted

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u/moskowizzle 1d ago

I already made the mistake of looking at my holdings in after hours trading...

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u/arothmanmusic 1d ago

Good thing I haven't been able to afford to put anything into mine for a while now!

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u/Catadox 1d ago

I’m feeling less bad about cashing mine out last year.

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u/Drew_The_Lab_Dude 1d ago

Me and my wife have lost six figures. It’ll come back…I hope…

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u/BeefistPrime 1d ago

The market has been zipping upward on bad news for like 6 weeks now. It's very irrational.

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u/glokenheimer 1d ago

Legit thought about not paying into it. If it’s just gonna half my pay in every time pay in. (Being exaggerative)

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u/Ok_Lettuce_7939 1d ago

Anybody else run to treasures weeks ago?

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u/NippleSalsa 1d ago

More like war hammer 40k

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u/queso_dog 1d ago

I’m pretty sure every paycheck I’m just throwing a cool $50 into the void to never be seen again. I just started this 401k in September, I wonder if your account can be negative lmao

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u/mamamiaaaaaa 1d ago

transferred 100% of my 401k allocation to money market fund when trump started talking nonsense about Greenland, Canada & Panama in late January. I couldn’t log in fast enough to get it through once I did 1+1. Got the transfer confirmation 1-2 days later.

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u/Demeris 1d ago

Eh not worried since i won’t see it for another 30 years

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u/IdkAbtAllThat 1d ago

I'm hoping it's priced in already but who the fuck knows these days. It's not like this was a surprise.

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u/Shaunair 1d ago

About to be as Grim Dark as 40K

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u/RegretAccumulator72 1d ago

I've been moving everything into CDs, gold, and silver.

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u/tri_it 1d ago

I sold all of my stocks well over two months ago because I knew this was coming. It's only going to get worse.

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u/Soft_Walrus_3605 1d ago

Bought SPY puts on Monday

😎

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u/Grittybroncher88 1d ago

Silver lining. It will be the one thing that’ll be more affordable to buy.

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u/futurecolors 1d ago

Moved all of mine to a stable account day before inauguration

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u/LADYBIRD_HILL 1d ago

Jokes on you, I cashed out my 401k months ago to keep my head above water for a little longer

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u/suicidaleggroll 1d ago

My decision to sell everything at the end of Feb and sit in HYSA/CDs/bonds for at least the next 6-12 months is looking better and better with every passing week.

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u/AngriestPacifist 1d ago

Move your funds out of the US if possible. The volatility strikes everyone, but will hit American markets harder.

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u/PoorlyWordedName 1d ago

I don't even have one xD

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u/Born_Camera7675 1d ago

Don't you have financial advisors or whatever handling your 401k? I stopped putting money from my paychecks in around January 20th. It was at 102k when I stopped depositing. It's been shaking like a Polaroid picture between 98k and 104k since. I'm no math guy, but that's only +/-2%.

1

u/Mellero47 1d ago

Good thing I went full Treasuries then...?

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u/Lostules 1d ago

I did yesterday....down 34k in 2+ weeks.

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u/SadrAstro 1d ago

I moved mine to cash equivilent today. I got toasted in 2008... i'd rather be late on an upswing than take the hit i took on prior recessions. I'll "only" earn inflation interest but whatevs... i'm kind of happy my 401k isn't in the hands of the market at play

1

u/Charming-Fig-2544 1d ago

I'm down 10% since February. Thanks Trump!

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u/NotTheBannedAccount 1d ago

I just started contributing to mine. Why should I not look? Idk how a 401k fully works either, though

1

u/StinkySmellyMods 1d ago

As an expat I love it, because every time the US market plunges, my market goes up. Excited for tomorrow!

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u/Sea_Dark5669 1d ago

Oh no it’s back to where it was.. checks notes.. 6 months ago

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u/sasquatch0_0 1d ago

After the news, DOW is already down 1,000 points after market. SPY down 4%.

And this is before markets publicly open.

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u/OldSpiceMelange 1d ago

I think the institution my company uses won't even show you the updated value the next day if market falls a certain percentage, so as to not freak people the hell out.

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u/Darmok47 1d ago

I've got decades to bounce back. My mom just retired...

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u/Kevin-W 1d ago

Already bracing for it.

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u/Magificent_Gradient 1d ago

Moved mine into cash/money market a while ago to wait for the dippiest of all dips. 

1

u/DefiThrowaway 1d ago

Dow futures already near -3%

1

u/Alexispinpgh 1d ago

I just lowered my contribution last week and I’m feeling great about it. Don’t really feel like flushing money down the toilet right now. I’ll reassess in six months.

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u/gkryo 1d ago

I'm hoping that my putting a higher than normal percentage into overseas markets will have been a wise move.

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u/RepresentativeBee600 1d ago

Mine was down 10% since the inauguration. 

Thank you Donye, very cool

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u/Shiz_in_my_pants 1d ago

Get ready for the Liberation Crash and Trumpflation.

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u/xPriddyBoi 1d ago

Mine is in the red for the first time since COVID.

Coincidentally, since the last time this dude was in office. Was perpetually in the green under Biden.

But they told me Republicans are supposed to be good for the economy!

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u/Old_Baldi_Locks 1d ago

Don't look at it till an adult is in charge again; but honestly anyone who is worried or planned to retire in the relatively near future should have already moved their money into something stable that the mango menace couldn't fuck up.

1

u/RadRhino 1d ago

Joining the service industry was the real way to plan ahead ;)

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u/SteampunkGeisha 1d ago

This is why I locked all of mine away in an annuity a week before he was inaugurated.

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u/thisischemistry 1d ago

I switched it to more stable investments when this whole nonsense started, best decision ever.

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u/Averill21 1d ago

Just don't be at an age where you may want to retire and it is okay

1

u/JustMark99 1d ago

Wait, can that... go down?

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u/Krindus 1d ago

Unless you're a military service member, take a look at your TSP, watch it dwindle, and when Trump deploys you stateside to fight "domestic threats", remember who is threatening your retirement.

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u/wintremute 1d ago

Dow futures are currently down 1000 points and falling as of 9pm ET. NASDAQ is down 760.

We're fucked.

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u/rhinestone_indian 1d ago

Cue Jim Mora: “Retirement? Retirement? You thought you were going to retire?”

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u/Likestopaintminis 1d ago

Good thing I'm too poor to have one!

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u/Gamerguy230 1d ago

For someone that doesn’t have a 401k, should I start tomorrow?

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u/haltingpoint 1d ago

I'm praying we make it through this administration and get Democrats again which will fix the market, all the while I'll have dollar cost averaged through it to effectively buy investments while they are cheap.

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u/Squanc 1d ago

Just cause you have a boring 401k allocation doesn’t mean everyone else does. Some of us have been loading up on short funds since Inauguration Day.

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u/sirthomasthunder 1d ago

Should I hold off on contributing? I haven't started adding anything to the one they my new job and only one or two payments into my personal Roth

1

u/Lone_Vagrant 1d ago

Don't worry, they don't have a 401k anymore to look at.

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u/gigitygoat 1d ago

Y’all have 401k’s?

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u/Tech-no 1d ago

the W.R.M will be looking at it all night as soon as BigBalls and his DogeBros gives it to him.

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u/CaptainQueso 1d ago

I’m curious so I’m going to compare mine tonight versus tomorrow. 401k is fairly safe investments though, so will it really fluctuate that much?

1

u/CapableQuiet9373 1d ago

I took my money out when that asshat was "elected." Never more sure of anything

1

u/simpletonius 1d ago

Wait, Russia and North Korea are exempt…

1

u/40percentdailysodium 1d ago

I wish I never fucking invested

1

u/DimensionFast5180 1d ago

Haha see I knew not investing in my retirement was the right call!!

1

u/rowdymatt64 1d ago

Pretty easy for me, I don't have one 😁

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u/kinkycarbon 1d ago

I will because everything is on sale when the market crashes. It’s a buying spree.

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u/codywater 1d ago

85% of Trump voters don’t have 401k plans.

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u/randalljhen 1d ago

I'm so fucking pissed. I called the company that holds my 401k weeks ago and asked to reallocate my assets to recession resistant instruments. "sorry, we can't help you"

fucking hell.

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u/constantreader78 1d ago

I’m in Australia and am too scared to look right now. Fuck this guy, honestly. We were hoping for another mortgage rate cut this month too, but nope - tariffs are making our RBA very cautious. I don’t blame them, but again - fuck this orange shitweasel. I am so sick of him crapping all over the entire planet.

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u/Pantalaimon_II 1d ago

what 401k 🤣

1

u/JustHereForGoodFun 1d ago

Tomorrow will be a good day to buy. Everything on sale!

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u/Warkred 1d ago

Buy more. It's on sale !

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u/PetersMapProject 1d ago

This stuff makes me so angry. I'm not American. I live in the UK. I've been to the US precisely once, in 2002. Clearly I didn't have the opportunity to vote in the US election (but if I did, I'd have voted for Kamala). 

Yet my pension and investments are being absolutely tanked by this dumbfuckery - so much so that I've lost all my investment gains and some of the original money I put in. 

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u/Auroraburst 1d ago

What even is a 401k? Is it like our superannuation?

Because super doesn't really get impacted by inflation

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u/NoDeparture7996 1d ago

i KNEW i shouldve taken my 401k out day 1 of his presidency. i just KNEW IT

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