I retired a year and a half ago, and thank God, undeer the Bush Administration I was able to cash in my 401-k at max value.
Since then the 401-k’s have deteriorated to half of their value, including my wife’s. She is still working and planned on retiring in about 2 years, but under the Obama Administration, we don’t see that to be feasible.
What do you think Obama can do to improve that situation?
{ 5 comments… read them below or add one }
RESIGN
There is nothing one man can do.
One man can create a disaster, but it takes many to repair the damage that, that one man caused, or was responsible for happening.
Resign from office.
Well he could do what he promised during the campaign – allow people to withdraw funds without the penalty – but that was probably just more hopey changey dopey.
Pres.Obama can’t do anything directly to increase the values of 401k’s. However, the values will increase if the problems with the economy are fixed. Since the day that Pres.Obama was inaugurated, the Dow Jones average has dropped about 2%. The market is likely to bounce around until there’s some clear indication the recession has ended. In contrast, during the Great Depression, the Dow Jones average dropped about 90% and took 20 years to recover.
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