Simon Conway

Simon Conway

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With Biden wiping out 25% of your retirement, have your plans changed?

Cracked nest egg

Photo: E+

Biden's soaring inflation and crashing market have wiped $2.1 TRILLION - an average of 25% - off average our retirement savings.

Economists Stephen Moore and EJ Antoni did the analysis and they said in their report "The victims of ever higher prices at the store and the gas pump are not the millionaires, but the little guys - and, in particular, older Americans - whose paychecks and savings accounts get walloped."

They argued that over the past 20 months, the average American family has lost nearly $6,000 in 'purchasing power' due to the rise in prices over wages and average American's 401k plans have lost $34,000 in value - more than 25 percent of where it was a year ago - to a total of $2.1trillion in losses. You can read more in the UK's Daily Mail.

Do these shocking numbers change your plans for retirement?

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