about saving for retirement, or for that matter saving for anything....yrs ago a client asked me to fly to rural kentucky and go to 2 non-union manufacturing sites to educate his employees about 401k plans and encourage them to contribute or contribute more. They already had a company pension and social security. I pulled the employee data and found that the average wage was barely above minimum wage. I told client that I would be happy to go there and bill him for the time but felt that with the wage levels, contributing more [or any at all] was a fantasy. The average employee simply had no money left after withholdings and basic necessities for savings. Never went to rural kentuky after all.
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about saving for retirement, or for that matter saving for anything....yrs ago a client asked me to fly to rural kentucky and go to 2 non-union manufacturing sites to educate his employees about 401k plans and encourage them to contribute or contribute more. They already had a company pension and social security. I pulled the employee data and found that the average wage was barely above minimum wage. I told client that I would be happy to go there and bill him for the time but felt that with the wage levels, contributing more [or any at all] was a fantasy. The average employee simply had no money left after withholdings and basic necessities for savings. Never went to rural kentuky after all.
Post: How financially illiterate are Americans?
Link to comment from June 19, 2026