this post was submitted on 31 Aug 2023
462 points (98.1% liked)

Work Reform

10039 readers
353 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] SCB 3 points 1 year ago (1 children)

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.

[–] [email protected] 3 points 1 year ago (1 children)

A bank account isn't going to magically make you richer.

[–] SCB 2 points 1 year ago

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.