Not really. In today’s world, a couple having assets of up to a few million is the equivalent of someone 50 years ago having a paid off house and a pension. That’s the kind of assets you need if you want to finance a basic middle class retirement.
That’s usually a house. But yeah if they have a million in a 401k then they’re part of the problem. Those funds are sitting in investment companies like Blackrock fueling the primacy of Wall Street over everything.
Having a million in a 401k today is like having a pension 50 years ago. If you want to actually retire in this capitalist hellscape, that’s what you need to have. A million in a 401k is like $40k/year of retirement income. And it’s not like pension funds don’t invest their savings in Wall Street either.
Not really. In today’s world, a couple having assets of up to a few million is the equivalent of someone 50 years ago having a paid off house and a pension. That’s the kind of assets you need if you want to finance a basic middle class retirement.
That’s usually a house. But yeah if they have a million in a 401k then they’re part of the problem. Those funds are sitting in investment companies like Blackrock fueling the primacy of Wall Street over everything.
Having a million in a 401k today is like having a pension 50 years ago. If you want to actually retire in this capitalist hellscape, that’s what you need to have. A million in a 401k is like $40k/year of retirement income. And it’s not like pension funds don’t invest their savings in Wall Street either.