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The video did not include any comments about million dollar babies. It did show him saying a 3% match on 401k is a great deal... which it isn't.
by ceautery 13y ago
The video did not include any comments about million dollar babies. It did show him saying a 3% match on 401k is a great deal... which it isn't.
- deleted 13y ago[deleted]
- FireBeyond 13y agoTell that to the very vast majority of Americans who work their entire lives without "employer matching" on their 401k's... Or a smaller but not insignificant number for whom a 401k at all is something dreamt of.
- ceautery 13y agoOK. Dear vast majority.... Actually I'm in that boat, too, but of my own doing. At where I work (a large utility in the midwest), we match 75 cents on the dollar up to 6%, so essentially 4.5%. I stopped contributing a few years back to try to get out of debt faster, but kept finding creative ways to add new expenses: wife, new daughter, another new daughter, repair that leaky roof, etc. Still, my point was obvious: 3% is free money that shouldn't be turned down if it's available, but to laud it as something to brag on is really grasping at straws. 6% was the industry standard in my area... and I once worked for a company AOL bought out.