Zero Financial Literacy: 40% of Americans have no clue what a 401k is
Conducted by OnePoll, anational survey of 2,000 Americans, evenly split by generation, revealed that 43% of respondents don’t know what a 401(k) is… 🔗 https://uk.style.yahoo.com/over-40-americans-no-clue-084100598.html #finance #money #401k
Okay?
Highly doubt. Probably some kind of polling issue
Proof right here Check out this post! "I regret maxing out my 401k (Personal Finance)" https://www.teamblind.com/us/s/3RnF6QcO
Lots of Americans have a pension, not a 401K and they don’t need to know about a 401K.
lots of people work hourly jobs (retail, restaurants, hospitality) or non-corporate jobs that don't offer retirement plans, or are self-employed. if you consider what % of America this is, 40% doesn't seem so high.
Do more than 40% of people work jobs that don't have 401k options? Then it makes sense.
most americans are paycheck to paycheck, they can't afford to contribute to 401k anyway
Most Americans don’t have access to a 401k anyway, that’s the real problem here. https://www.cbsnews.com/news/retirement-plan-access-states-where-it-is-worst/
most americans don't have anywhere close to $401K in savings
It really should have a plain English name
People who don't know what a 401k is probably literally live paycheck to paycheck (not what Blind defines this as) and can't even think about the future or just don't care. Don't think changing names will really do anything