Sarah Palin: 401(k) Takes a Nose Dive

Her family's investments are down roughly $20,000.

By SHARE

Referring to herself as a "Joe six-pack American," Sarah Palin estimated that her family has lost $20,000 in the stock market in the past week.

According to state financial disclosure forms filed in March (reported in the Boston Globe), the Palins had about $164,699 in a private investment account and $198,102 in a separate retirement account. For more on Palin's finances, check out this Washington Times story, which mentions the Palins' combined income (nearly a quarter-million dollars), the reported value of their home ($552,100), and other assets (a single-engine plane, two boats, and two personal watercraft).

In an interview with Hugh Hewitt, a conservative radio talk-show host, Palin said: "The relatively low number of investments that we have, looking at the hit that we're taking, probably $20,000 last week in his 401(k) plan that was hit. I'm thinking, geez, the rest of America, they're facing the exact same thing that we are." When asked why things are tight for her family, she said, "It's just the great financial crisis that America is in as our savings accounts also, and a 401(k), they're being hit."

It's too bad she wasn't more specific about those investments, because this post on financial advice for Sarah Palin could come in handy. But seriously, most investors are down. According to Jason Zweig's column in the WSJ yesterday, 91 percent of all mutual funds in existence have lost money so far this year.

You can read the full transcript of the Palin interview here.