Fact Check

Did President Trump Tweet 'How Are Your 409Ks Doing'?

What appeared to be a typo was quickly deleted but archived.

Published Jan 10, 2020

WASHINGTON, DC  JANUARY 9: U.S. President Donald Trump speaks during an event to unveil significant changes to the National Environmental Policy Act, in the Roosevelt Room of the White House on January 9, 2020 in Washington, DC. The changes to the nations landmark environmental law would make it easier for federal agencies to approve infrastructure projects without considering climate change. President Trump also took several questions from reporters, including questions of Iran and impeachment. (Photo by Drew Angerer/Getty Images) (Getty Images)
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Claim:
U.S. President Donald Trump tweeted "HOW ARE YOUR 409K'S DOING?"

On Jan. 9, 2020, U.S. President Donald Trump posted a tweet, written partially in all-capital letters, asking people how their "409K'S" are doing, and although he deleted the tweet and re-posted it without the "409K" reference, the errant tweet was captured by at least two archiving services.


Trump then deleted that tweet and posted a new tweet, substituting in the correct reference, "401K."

A 401(k) is a retirement-savings benefit offered to employees by some companies. Funds are generally automatically deducted from paychecks and deposited into an account that is tied to stocks. Therefore the performance of 401(k) accounts are linked to the highs and lows of the stock market.

Many Americans, however, do not have access to this benefit, as it is dependent on their employer. Regardless of whether they have one, most Americans do not have enough money saved for retirement, according to economic data.

U.S. stocks have been experiencing a record bull market for roughly a decade, which Trump generally claims credit for, although it started under his predecessor, Barack Obama.

Sources

Elkins, Kathleen. "Only Half of Americans Have Access to a 401(k) — Here’s How to Save for Retirement If You Don’t."   CNBC. 18 March 2019.

Chang, Sue. "Welcome To the Longest Bull Market in Wall Street History."   CNBC. 22 August 2018.

Chang, Sue.  "The Dow’s Tumultuous History, in One Chart."   MarketWatch. 3 February 2018.

Martin, Emmie. "Here’s How Many Americans Have Nothing Saved for Retirement."   CNBC. 28 June 2019.

Bethania Palma is a journalist from the Los Angeles area who started her career as a daily newspaper reporter and has covered everything from crime to government to national politics. She has written for ... read more

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