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My personal anecdata is that I started saving more money and contributing more to my 401K after I got a substantial raise from switching jobs. Before that? The
by ok_coo 7y ago
My personal anecdata is that I started saving more money and contributing more to my 401K after I got a substantial raise from switching jobs.
Before that? The majority of my income went to expenses and keeping my head above water. There are plenty of people who are irresponsible, yes. But I'm guessing there are many more who are just trying to pay the rent, bills, etc. to stay off the street.
- juZDM6 7y agoThis. I think it would be very hard to have substantial retirement savings on the bottom 25th quartile of American wages. Especially when most Americans are living paycheck to paycheck. Want people to save more? Pay them more.