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The worst part is that many governments around the world use peoples' Superannuation/401k accounts to invest in index funds. In Australia, employee contribution
by jondubois 8y ago
The worst part is that many governments around the world use peoples' Superannuation/401k accounts to invest in index funds. In Australia, employee contributions of 12% are mandatory... So basically the government is driving inequality and centralization of wealth using people's own money.
This represents an unfathomable about of money
- danieltillett 8y agoYou can run a SMSF here in Australia if you want to make your own investment decisions.
- jondubois 8y agoYes but from what I remember it wasn't that easy to do. When opting out is so difficult, most people will just stick to the default. This kind of approach is bound to increase centralization of wealth.
- danieltillett 8y agoIt is not super difficult (sorry for the pun), but it can be time consuming and only really worth doing if you have more than $250,000. At least we have a choice.