Trump says 401(k)s are up ‘double and triple’ as America enters golden age — are you all set to get rich?
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President Donald Trump says Americans’ retirement accounts are enjoying a historic run — and he believes the best may still be ahead. During a recent interview with Fox News, Trump pointed to record stock prices, rising employment and a wave of new factory investment as evidence that the U.S. economy is firing on all cylinders. “We hit an all-time stock market high,” Trump said (1). Must Read Then he turned to Americans’ retirement savings. “401(k)s are the highest they’ve ever been by double and triple,” he said.
Trump did not explain precisely what he meant by “double and triple,” and individual 401(k) returns vary widely depending on what workers own, when they began investing and how much they contribute. But his broader point was unmistakable: with stocks soaring to record highs, Americans who have stayed invested have had plenty to celebrate. The benchmark S&P 500 has gained about 29% since the beginning of Trump’s second term, lifting retirement accounts along the way.