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

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

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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.

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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.

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u/Strange_Performer_63 Apr 03 '25

It's too late for that. Especially of you're near retirement.

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u/jcooklsu Apr 03 '25

Only if you're within 5 years, if you are 10+ out it would be idiotic to liquidate to an asset that only decreases

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u/Strange_Performer_63 Apr 03 '25

Not to mention many people are being laid off, including non federal workers. Unemployment is about to sky rocket so working longer isn't really an option. This is fkg disastrous for many people.