Who is asking "Are you better off than 4 years ago"?
- Thread starter ITALIA
- Start date
ITALIA
Mayor
Actually the correct answer is "Every right of center person in the nation and most independents and moderates." Otherwise it wouldn't bug the heck out of Obama and all his supporters so darn much.
I look forward to your link to that. Otherwise I will assume it came out of your ass.
LeRoy_Was_Here
Senator
Actually the correct answer is "Every right of center person in the nation and most independents and moderates." Otherwise it wouldn't bug the heck out of Obama and all his supporters so darn much.
LeRoy: I have no problem with the question. As for myself, I am MUCH better off than I was four years ago. From 2005 to 2009, I made virtually no economic progress. My wages were frozen, due to the very poor state of the economy. My real wages are now about 25% greater than they were in early 2009, and my 401K has almost TRIPLED in value in the last four years. Went from being an apartment dweller to the owner of a lovely townhome, and have paid for many home improvements. Just no comparison between where I am today and where I was in early 2009.
Bugsy McGurk
President
With markets doubling it would not be unusual to have a 401k triple during the Obama era, especially a young 401k with large contributions over the last few years.
That's what happens when we have Dem presidents.
LeRoy_Was_Here
Senator
LeRoy: In August 2008, my 401K was at about a measly $13,000 in value. Today it is close to $35,000. You do realize the stock market has DOUBLED in value since early March, 2009, right? In the summer of 2008, I moved all my 401K account into U.S. government bonds. Smart move. They soared in value as interest rates plunged in response to the financial crisis. Then, beginning in March of 2009, and more aggressively later in the year, as Obama's policies started to take hold, I moved back into the stock market. And meanwhile, I kept contributing at about the rate of $600 per month. My employer does match my contributions at the 5% level, so that certainly helps.
ITALIA
Mayor
I'm retired so don't have matching funds and my portfolio has doubled so the triple with matching funds is possible.
Arkady
President
Actually the correct answer is "Every right of center person in the nation and most independents and moderates." Otherwise it wouldn't bug the heck out of Obama and all his supporters so darn much.
It shouldn't bother any Obama supporter, since it puts the choice in clear terms. Four years ago, our economy had collapsed utterly, and very serious people were wondering whether we were running headlong into a second Great Depression. Today we're in the midst of a recovery (albeit an anemic one). Obama wants to continue down the road of recovery. Romney wants to reinstate the very policies that pushed our country off a cliff. The more people ask that question of whether we're better off than we were at the end of the catastrophic Bush presidency, the better.
Arkady
President
It's not that hard. With the market having doubled all on its own, all you need is to have contributed a reasonable amount on top of that (depending on how much you had sitting in there in the start.
For example, assuming you had $60k in there at the start of 2001, doubling of that initial investment takes you to $120k just through the background rate of investment growth. Four contributions of $16,500 each takes you to $186k, or more than triple the initial balance, not even counting the dividends and the return on those extra investments (not to mention the employer match and the possibility of outperforming the Dow).
"So maybe Mitt Romney shouldn't complain too much about his opponent. Obama has been pretty good to him.
heheh
heheh
LeRoy_Was_Here
Senator
LeRoy: You're dealing with bigger numbers than I am, Arkady, alas. My 401K went from ~$13000 in mid-summer 2008 to about ~$35000 in summer 2012. I will need to AT LEAST triple it again before I can even BEGIN to think about retirement. And I am 56. If Rmoney becomes President, I'll be damned SCARED!
