• mctoasterson@reddthat.com
    link
    fedilink
    arrow-up
    2
    ·
    4 months ago

    Everyone who works a white collar job for a medium or large company should have access to a 401k or some other investment vehicle but I understand that many can’t afford to fully utilize those benefits even if those benefits are available. The exec class gets richer as their portfolios gain value, as they tend to get compensatory stock. Everyone else takes an “L” to make that happen.

    A rank-and-file accountant or developer can still set themselves up for retirement but they have to start early and be extremely aggressive.

    I agree that with inflation, there are perverse incentives created. Most peoples jobs do not have any guarantee of annual raises, performance based or cost of living based. Effectively you are taking a pay cut each year due to inflation. This passively makes every company environment worse, because the only way to gain compensation is to jump ship to another job. Those who are capable and motivated will try to parlay every job into a better job within 6 months, and that makes it impossible to build up capabilities and culture. It effectively makes everyones job suck more, whether you stay or leave.