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The standard rebuttal to anything negative about Trump or his policies is "But Obama." Personally, I saw a huge difference after W left. My 401K grew back enough for me to retire finally, and all of my children were able to find jobs paying living wages and pay off their college loans. How did you do?
Why do you and other people continue believe the POTUS controls the market? Do you believe everything a politician tells you? Did you make specific investments because of who was elected each cycle?
Well I saw a decrease in my take home pay due to tax increases mostly linked to Obamacare.
Many businesses actually saw health care costs decrease or stay stable after Obamacare went into effect. If your premiums went up, it was most likely because your employer was taking advantage of Obamacare to raise the portion you paid. Mine did (I worked in HR benefits). If you compare COBRA rates, you typically see they stayed the same or rose slightly, while employee premiums rose at a higher rate.
I also retired early this past June 30th (due to having lost all vision in my right eye).
I began contributing to the Thrift Savings Plan (the Federal equivalent to 401K) in 1988.
In 2009 it was worth $190,000.00.
As of my retirement this past June, it was worth $410,000.00.
Being the nervous sort, I just last week transferred the whole into the G-Fund (the safest investment, with annual interest of 2.75 percent). Of course, after the transfer the market has continued to rise (I had some 30 percent of my TSP in the market).
So, I did very well under Obama, and I continued to do well under Mr. Trump. Hopefully, the economy will continue to do well, but I am besieged by doubts.
I lost about 100K in my TSP under Bush but under Obama it recovered nicely. I still have mine spread out even though I am also nervous, especially with Trumps rhetoric and trade war, but I will keep it where it is at since I hope to retire in 2020.
I lost about 100K in my TSP under Bush but under Obama it recovered nicely. I still have mine spread out even though I am also nervous, especially with Trumps rhetoric and trade war, but I will keep it where it is at since I hope to retire in 2020.
So you are convinced that Dems are somehow magically in control of the market, and you are afraid of Republicans tanking the market, especially Trump, but you are going to leave your money in the market because you will need it for retirement in less than two years????
Some of you really need to do some research and/or talk to financial professionals.
Clinton was handed an economy in recession. Left with a booming economy.
Bush was handed a booming economy. Left office with an economy in ruins.
Obama was handed an economy in ruins. Left office with a booming economy.
Trump was handed a booming economy. We know how this turns out...
Are you honestly so simple that you believe one person controls the economy?
Clinton was President during the dotcom era. He was also willing to work with the GOP congress after he go shellacked in the midterms.
Bush was President during Clinton and Barney Frank's everyone should own a home whether they can afford it or not era. Oh, and Clinton repealed Glass-Stegall, the law that kept big banks in check by not allowing them to trade on their own accounts.
When Obama took office, the economy was in free fall. Short of cash for clunkers (a huge failure) and the stimulus act (which even he later laughed at the concept of 'shovel ready') after he had wasted $700b of taxpayer money. As a finance person, I can tell you that historically the biggest market gains come after a big drop. But the gains back under Obama were slow and that's because he never did a jobs program or anything to stimulate the economy. The Fed begged them to make a change to fiscal policy. And Obama did. He raised taxes more than any president since FDR. He also put huge amounts of regulations on businesses essentially putting an anchor around their neck. Obama also never worked with Congress. It was known around Washington that he didn't really like politics or people and rarely even met with Congress. He was home for dinner every night by 7 with his family. At least Clinton got int the game.
The most impressive economic boom and stock market boom is coming from Trump policies because it is growing on top of what was an economy that was doing better but not great. He has removed thousands of the burdensome regulations that Obama put in place. Not only has this had a major impact on out the US economy, but generated trillions in assets for the entire world.
Your view is simplistic. You need to dig a little deeper.
So you are convinced that Dems are somehow magically in control of the market, and you are afraid of Republicans tanking the market, especially Trump, but you are going to leave your money in the market because you will need it for retirement in less than two years????
Some of you really need to do some research and/or talk to financial professionals.
The president does not control the market, but can have massive influence on it. Just look at the current idiot, er, president. Why do companies like Alcoa, suddenly out of seemingly nowhere, had to adjust their revenue guidance down significantly? Why do the government has to give out billions of bailout? Why new cars suddenly are costing more? You can trace this all directly back to Trump's tariff.
Why did we have a housing bubble and a job-loss recovery under Bush? It's all due to the administration's protection of subprime mortgage and their economic policy.
In fact, this president has more than once moved the market with just one single tweet. That's all it takes. So don't tell me he has no effect on the market.
The president does not control the market, but can have massive influence on the market. Just look at the current idiot, er, president. Why do companies like Alcoa, suddenly out of seemingly nowhere, had to adjusted their revenue guidance down significantly? Why do the government has to give out billions of bailout? Why new cars suddenly are costing more? You can trace this all directly back to Trump's tariff.
Alcoa is not "the market" nor are "new cars" nor are "bail outs" anyone can cherry pick a few stocks, but the market for investors is not significantly impacted by the POTUS in the long term.
The standard rebuttal to anything negative about Trump or his policies is "But Obama." Personally, I saw a huge difference after W left. My 401K grew back enough for me to retire finally, and all of my children were able to find jobs paying living wages and pay off their college loans. How did you do?
It was quite the opposite for me. Was out of work for a year, my house value plummeted , and when I did get back to work I was making 30% less. I will say though, towards the end things did steadily increase. Pay is a bit better, still not pre '08, and I am finally above water on my home. One thing I don't remember prior to '08 is ever having to worry about health care. My employers always helped carry that with minimal amount taken from my check. Now , it's all out of pocket.
Do I blame all this on Obama, no. Did I like his policies, no. It is life, and I got thru it. That is the best we can do.
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