Of all generational cohorts, older millennials are most likely to generate enough income to retire comfortably, according to the latest Vanguard Retirement Readiness report.
Specifically, millennials aged 37-41 have the greatest chance of landing a comfortable retirement.
Its going to depend on your field. “Tech” very much prioritizes “total compensation” with a focus on contribution matching and the like. And then affiliated fields do because people tend to branch out/lose their god damned minds.
Any medium or larger company will give everyone a 401k because it is good for the executives and 401k rules require you offer them to everyone not just the high wage earners (there are exceptions to this rule). Plus investment companies make is relatively easy to offer this type of thing to everyone.
I work in Human Care like about 25% of millennials, I don’t know many people whos orgs offered retirement to them, a lot make their employees purchase insurance through the ACA, ive seen ‘How to apply for ACA’ in onboarding handbooks and handouts, but retirement is rarer.
Yeah. There is always the issue of people not being able to understand that others have different life experiences than them. But, because anyone whoi expects to live past 60 have started to think about retirement, we also get the dunning kruger effect.
Similarly, I am not aware of any service industry jobs that really prioritize 401ks. And it seems like a crapshoot for teachers and education adjacent jobs whether they get pushed for a 401k or a pension fund that will likely get blown on hookers and blow long before they reach retirement age.
I do think that, in general, people need to educate themselves and at least have an IRA they put money into around tax season every year. But I get that even being able to do that is already incredibly privileged.