this post was submitted on 03 Apr 2025
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[–] [email protected] 21 points 2 weeks ago (6 children)

I was considering trying to cash out my 401k and ira in the US (I bought my first house and I think that's one of the allowed cases), but hadn't worked out the details yet. Guess that's not happening right now. I no longer live in the US and will probably renounce citizenship once my parents go.

I looked at my other investments this morning based on this post and.... Lol. Granted, I only one a handful, but it still hurts. My stock that was worth only like 40 cents moved up 5+% so yay for that, I guess.

[–] [email protected] 5 points 2 weeks ago (2 children)

What happens to your 401k and IRA if you've moved abroad and renounce your citizenship? Will it ever be paid out?

Not an American so I honestly don't know.

[–] [email protected] 3 points 2 weeks ago (1 children)

I don't know either. I imagine it just lives on. I can't put money in them now from Japan anyway (well, unless I want to pay some taxes in the US on top of what I pay here; no thanks). I can't use Japan's equivalent either since the US tax authorities will massacre you with paperwork and fines (PFICs). If social security still exists, I worked long enough in the US to get that and it doesn't matter for that if I renounce.

[–] [email protected] 3 points 2 weeks ago (3 children)

If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.

Well, hope they won't change the rules around that if it does still exist by the time you retire. Though generally such things aren't done retroactively I believe. Once you've earned it, you've earned it. Even if rules change for future folks. At least in sane countries, but of course we're talking about the US...

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[–] [email protected] 33 points 2 weeks ago (5 children)

My 401k today is $520 less than what it was Jan 21st. I put in almost $600 every 2 weeks.

That's a good chunk of change that just disappeared. I can only imagine how much someone with a bigger retirement account than I have is hurting.

[–] [email protected] 7 points 2 weeks ago (2 children)

Meh I went through the same shit in 03, 08 and Covid. It hurts but keep depositing and/or increase your contribution. Your future self will thank you.

[–] [email protected] 21 points 2 weeks ago

I sometimes wonder if this time is a bit different, but we'll see. I don't know what qualifies as a safe harbor if donvict's wrecking crew end up destroying the entire fabric of why people invest in the U.S.

Meaning, the dotcom bubble, the early 90s recession, the 08 real estate bubble, the gigantic V that was early covid....those all still had a government that was looking to sustain most or all of our institutions.

Donvict and his crazy Project 2025/fElon dogebags are running around and ripping out the very infrastructure...

[–] [email protected] 10 points 2 weeks ago

Oh I'm not stopping. Just pointing out how this is hurting people's retirement.

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[–] [email protected] 15 points 2 weeks ago

They voted for this. We all have to be onboard for the crash.

[–] [email protected] 29 points 2 weeks ago (3 children)

And yet people still felt the need to vote for him

I'll never understand this country....

[–] [email protected] 14 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

And people still thinks he is playing some sort of 4D chess. My friend in Georgia mentioned that people around her says Trump is creating a dip, so that federal reserve will lower interest rate.

Yes, because president can fire tons fedral workers, can send secret police to abduct people, but cannot control the federal reserve, and have to play stagnation or bust.

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[–] [email protected] 7 points 2 weeks ago

So much winning

[–] [email protected] 34 points 2 weeks ago (3 children)

His MAGA fans likely don't have anything in the market, or they don't think they do, so they think this won't affect them. They are in for a rude awakening.

[–] [email protected] 9 points 2 weeks ago

Yep. The market is a lot like politics that way.

You might not take an interest in markets, but markets take an interest in YOU.

[–] [email protected] 14 points 2 weeks ago

No they are all over invested in the market. The techbros. The effective altruists. The boomers and anyone wealthy. They voted for Trump to pump their bags and dont care about anything else. Only the dirt poor maga aren’t baws deep.

[–] [email protected] 6 points 2 weeks ago (1 children)

I am actually getting worried about the leopards health, are there too many faces for them to eat? Do we need to ensure they stay healthy and in shape to better continue eating all the faces by restricting the amount of faces they can eat in day?

[–] [email protected] 4 points 2 weeks ago (1 children)

The leopards eating faces are becoming obese.

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[–] [email protected] 122 points 2 weeks ago (5 children)

He inherited a growing economy, a healthy stock market and low unemployment. He has undone all 3. Power move!

[–] [email protected] 4 points 2 weeks ago (1 children)

I keep saying that but a lot of people that just like to be contrarians (I guess?) keep saying that the economy was not really good at all.

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[–] [email protected] 19 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Be fair, it did take a long time to undo all that...
He's been back in office an astonishing two months. That's a lifetime!!

[–] [email protected] 8 points 2 weeks ago

Don't give me hope

[–] [email protected] 5 points 2 weeks ago

He also had friends and allies all around the world. He's undone that too.

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[–] [email protected] 38 points 2 weeks ago* (last edited 2 weeks ago)
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