• dhork@lemmy.world
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    1 year ago

    A retirement account, stocks, or a pension are all just money on paper. Yeah, it’s nice to see that number go up, but you either have to wait years to see it, or have to pay taxes once you get there, or both.

    Not dismissing the effect that Biden has had on the economy, in spite of Republican fuckery. But it’s a mistake to point at the Stock Market and tell people who can’t pay their bills now that its all OK.

      • dhork@lemmy.world
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        1 year ago

        Not at all, all I’m saying is that most people look at the money they make as “take-home pay”, where they don’t even see the taxes until it’s time to file. While when they look at their 401k nest egg, it’s the opposite: they will owe the money when they cash out, and it will be invisible until then.