Vanguard is reporting that 401k withdrawals have reached an all-time high.
Hardship withdrawals from 401(k)s reach ‘concerning’ all-time high, Vanguard says https://t.co/5d4tEBXTxS
— MarketWatch (@MarketWatch) December 5, 2022
So much for the “booming” economy.
The economy is obviously in the toilet and if it wasn’t, people sure as hell wouldn’t be raiding their 401ks. Especially after the stock market has decreased the value of people’s 401ks tremendously over the past year or so.
These 401k plans have always been a bullshit scam anyway. It’s just a way for Wall Street to suck more money out from the American people by falsely promising them some sort of retirement security. They absolutely suck compared to the pensions of old.
With the way things are going, I’d be buying guns, ammunition, gold, silver, emergency food, gasoline and any other survival gear you think you might need if you were a character in a Mad Max film.
