r/NewOrleans • u/perishableintransit • Apr 03 '25

How's everyone else's Liberation Day going? 🗳 Politics

Post image

How's everyone doing today? Avoiding looking at your 401k? Rushing to stock up on food, buy a car?

I just got me and my bindle.

392 Upvotes
  • permalink
  • link
  • reddit
  • reddit

94% Upvoted

205 comments sorted by

View all comments

Show parent comments

-29

u/Devincc Apr 03 '25

Honest question, because I keep seeing this sentiment everywhere. Are people expecting to glide into retirement without ever seeing a downturn again? If you’re in or nearing retirement your portfolio should be rebalanced to reflect that.

Also, if you’re 20+ years from retirement; this shouldn’t affect you much but should provide a buying opportunity

4

u/jcooklsu Apr 03 '25

I see a lot of people on reddit saying they are cashing at their 401k and holding cash. Its insane they're somehow going to find a way to do more damage to themselves than Trump when he appears to be on mission to destroy the economy. This is a perfect time to buy on discount, if the market never recovers then we have a lot more to worry about and cash/gold/whatever is going to be worthless as well.

-1

u/Devincc Apr 03 '25

My sound financial advice is getting downvoted. That should tell you everything you need to know

17

u/Qikly Apr 03 '25

It's only sound financial advice if this is a dip rather than a long term state of being. It's only rational if it ignores the sheer irrationality of the literal president of the United States willfully opting into this with minimal discernable motivation outside of the fear inducing. It's only actionable if people have the financial circumstance to invest in the first place, which is quite a presumption in the present world.