Data:
{
"text": "401k is not perfect but tell me what is the advice you see basically constantly on reddit to get paid more money? Job hop. People say that because it's generally good advice and people end up paid for a lot better doing so.\n\nBack when everyone had a pension, people could not job hop like this, they stayed at the same company for 30 years. If you instead job hopped and increased your salary, you can dump more into your retirement and come out way on top. Of course many people don't do that because people are terrible at saving for retirement. This is also talking about people who have enough skills to be able to job hop for a higher salary.\n\nThere are a lot of people who don't and they are pretty much all paycheck to paycheck. Contributing to 401k is not very helpful because the amount is so low and they need it to live. They will the survive off of social security eventually.\n\nThe problem is not 401ks, they are a great tool for a ton of people, not just the wealthy. The problem is that we need these people to receive benefits that allow them not to live/retire in poverty. They need to be forced benefits, not just extra cash that allows for a basic minimum standard of living. Where they can have enough food, medical care and housing.\n\nI know I went on a bit of a tangent here but this is the real issue, not the pros or cons of a 401k.",
"label": "r/economics",
"dataType": "comment",
"communityName": "r/Economics",
"datetime": "2024-05-22",
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}