{"id":1705487,"date":"2022-10-21T06:30:10","date_gmt":"2022-10-21T10:30:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1705487"},"modified":"2022-10-21T10:03:56","modified_gmt":"2022-10-21T14:03:56","slug":"newt-gingrich-before-you-vote-check-your-401k","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newt-gingrich-before-you-vote-check-your-401k\/","title":{"rendered":"Newt Gingrich: Before You Vote: Check Your 401k"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnewt-gingrich-before-you-vote-check-your-401k%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1705487&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>I urge all Americans to look at their 401k investments before they vote next month. The disaster Joe Biden and the Democrats have caused will shock you.<\/h2>\n<hr \/>\n<p>by <a href=\"https:\/\/www.gingrich360.com\/newt-gingrich-feature-articles\/\" target=\"_blank\" rel=\"noopener\"><span><strong>Newt Gingrich<\/strong><\/span><\/a><\/p>\n<p class=\"p1\">Normally, I would advise people to ignore their stock accounts during a bear market. After all, if the general market is going down, your stocks are probably going down, too.<\/p>\n<p class=\"p1\">It usually doesn\u2019t make sense to worry about a trend too big for you to change. I would suggest you wait until the market turns up and then watch cheerfully as your investments regain their value.<\/p>\n<p class=\"p1\">However, this is no normal bear market. It wasn\u2019t caused by a fluke, or a natural trend. It was caused by the Washington Democrats\u2019 disastrous policy. So, I urge all Americans to look at their 401ks before they vote next month. The disaster Joe Biden and the Democrats have caused will shock you.<\/p>\n<p class=\"p1\">Heritage Foundation economists Stephen Moore and E.J. Antoni, have run the numbers on the Biden-Democrat economic disaster \u2013 and <a href=\"https:\/\/nypost.com\/2022\/10\/16\/average-american-is-losing-34k-and-everything-else-on-bidens-watch\/\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\">translated it into individual earnings and savings<\/span><\/a>. (Moore is also a co-founder at the <a href=\"https:\/\/committeetounleashprosperity.com\/\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\">Committee to Unleash Prosperity<\/span><\/a>, and his daily newsletter Unleash Prosperity Hotline may be the best single daily brief on the economy and politics.)<\/p>\n<p class=\"p1\">Moore and Antoni found the Democrats\u2019 inflation rate has cost the average American family $6,000 in purchasing power since Biden took office.<\/p>\n<p class=\"p1\">The cost of inflation gets even worse when you factor the Federal Reserves\u2019 relentless interest rate increases. They calculated that 401(k) plans have taken a $2.1 trillion hit since the start of 2022. The average plan started with $135,000 and now has $101,000. That is an average $34,000 loss (or 25 percent decrease) in less than a year. Inflation has also shrunk the purchasing power of the average plan by another $5,000, according to Moore and Antoni.<\/p>\n<p class=\"p1\">As they put it:<\/p>\n<p class=\"p1\">\u201cLet\u2019s say you are doing a little better than average financially and you have a 401(k) plan with $300,000 saved up. You\u2019re still far from \u2018rich.\u2019 Your nest egg losses this year are likely to be above $75,000.\u201d<\/p>\n<p class=\"p1\">The hit on pension plans has been equally powerful. As they wrote:<\/p>\n<p class=\"p1\">\u201cAt the beginning of this year, pensions in the US had $27.8 trillion in assets. Now, it\u2019s under $24 trillion, a drop of about 15% that has wiped out the last two years\u2019 worth of gains \u2014 nearly $4 trillion.<\/p>\n<p class=\"p1\">\u201cMany union and government pension funds were already facing financial shortfalls to be able to pay promised benefits. The combination of high inflation and a bear market in stocks means insolvency is a real threat. Some may need bailouts or will have to sharply cut promised benefits.\u201d<\/p>\n<p class=\"p1\">If you have any doubt about the impact of inflation, note that Biden\u2019s ice cream cones have skyrocketed in price. In December 2021, the national average for a half gallon of ice cream was $4.76. This September, it was $5.70. That is a 20 percent increase in less than a year (although, I doubt he notices). Inflation continues to rise, and Biden continues to munch on ice cream cones.<\/p>\n<p class=\"p1\">So, before you vote, check how much Biden and the Democrats have cost you and your family personally.<\/p>\n<p class=\"p1\">Then \u2013 if you want to stop the damage \u2013 vote Republican.<\/p>\n<hr class=\"wp-block-separator has-css-opacity is-style-wide\" \/>\n<hr class=\"wp-block-separator has-text-color has-background is-style-wide\" \/>\n<h2 id=\"h-newt-s-latest-articles\">Newt\u2019s Latest Articles:<\/h2>\n<hr class=\"wp-block-separator has-css-opacity alignwide\" \/>\n<h2 id=\"h-newt-s-latest-podcasts\">Newt\u2019s Latest Podcasts:<\/h2>\n<hr class=\"wp-block-separator has-css-opacity is-style-wide\" \/>\n<h2 id=\"h-pre-order-newt-s-latest-book\">Get<strong> Newt\u2019s Latest Book:<\/strong><\/h2>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/Available-Now.png\" alt=\"\" class=\"wp-image-1242790\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/Available-Now.png 600w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/Available-Now-300x200-1.png 300w\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>I urge all Americans to look at their 401k investments before they vote next month. The disaster Joe Biden and the Democrats have caused will shock you. by Newt<\/p>\n","protected":false},"author":1,"featured_media":1554088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1705487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1705487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1705487"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1705487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1554088"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1705487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1705487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1705487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}