What the fuck is this? “How employers might help change that” Answer: they wont, they just might be forced to let employees give themselves a fee-free loan from their own retirement account, oh and here’s a slightly different new emergency savings account. It’s still all just your money…What the actual fuck?
What about the half of US workers that don’t have a retirement account? I guess fuck them?
Paying higher wages doesn’t get people to start bank accounts, much less retirement accounts.
Many people on the poorer end of the spectrum literally hide money in their walls/mattresses rather than get bank accounts - I know many of these people firsthand.
What the fuck is this? “How employers might help change that” Answer: they wont, they just might be forced to let employees give themselves a fee-free loan from their own retirement account, oh and here’s a slightly different new emergency savings account. It’s still all just your money…What the actual fuck?
What about the half of US workers that don’t have a retirement account? I guess fuck them?
Isn’t the answer simple? HIGHER WAGES.
Man, this made me incredibly angry.
Paying higher wages doesn’t get people to start bank accounts, much less retirement accounts.
Many people on the poorer end of the spectrum literally hide money in their walls/mattresses rather than get bank accounts - I know many of these people firsthand.
A bank account isn’t going to magically make you richer.
Not having one does make you poorer, but this is neither here nor there.
My point is, someone hiding money in their mattress isn’t going to put much value in 401(k)s and likely does not have one.