quote:
I know many on this forum are Democrats but the Democratic candidates truly have me worried. One of the things that was made painfully obvious during the Democratic debates the last few nights was how much the Democratic candidates hate capitalism and wealth. They truly despise the idea of winners and losers and they want to equal the playing field.

Whether it's reparations, medicare for all, free college, it's obvious the general idea is wealth confiscation and evening out the playing field. Heck they even admitted they will raise taxes on the middle class.

I consider myself lower middle class, I make around 50k a year right now. I automatically have 10% of my paycheck sent to my Roth 401k. My company matches 3/4 up to 8%. My contributions go towards my Roth 401k whereas my company contributions go towards my Traditional 401k. In terms of liquid wealth I probably have around 125k.

Obviously I don't have a lot of money by any means, definitely not enough to look at setting up an offshore account. But I do have enough to get screwed over with higher taxes while not getting any benefits by the government. With that said, what should those of us look at doing in case a Democrat does somehow get in office? I'm really worried that one of the first things they'll go after are 401k's and other retirement accounts, but being 35 I don't think anything is off the table long term for the Democratic candidates.

When Obama got elected there were people saying the same thing, but the market was already in turmoil so they were saying don’t get back in yet. When the second election came around lots of people were again saying he was going to kill the market.
They were very wrong.