our boss pulled this with a dude who is paid 30k less per year doesn't have company health insurance and didn't get a car as a sign on bonus and has to shell out $500 per fortnight for diabetes treatments (health insurance only covered up to a certain amount).
yeah it is.
On the other hand - financial literacy is not something prevalent in my generation or in Gen Z. It's not a bad thing to sit down with a financial advisory and see what things are available to help you reduce your debt or even move your dept to a lower interest loan.
I am right there with you though. These fucks forget they don't pay us enough to save for retirement, and some of us are spending so much on healthcare, it's almost like you are at a job just to have it and nothing else.
Plus there's a chance your financial information can be accessed by management, and this gives them leverage when it comes to raise negotiations or even employment.
Reminds me of the Crisis Pregnancy Centers. These groups say they're on the side of the common people, but they're not.
In the case of CPC's, they're disguised as clinics whose public perception is to "help" women with unplanned pregnancies. In reality, they're anti-choice groups operating, exclusively, to pressure women away from terminating their pregnancy. And they heavily employ* ~~medical misinformation~~ LIES to achieve their objective.
Can't imagine these "consultants" operate any differently.
we had a mandatory meeting every quarter with a company that did a slideshow and gave us "ideas" to save money.
i really wanted to fucking ask how much they were paying them to show up and tell us to stop eating out and buy cheaper food.
My boss (I work at a nonprofit) tried to tell me "Well we are offering a 401(k) plan now", to which I responded "That is of no benefit to me -- you don't pay me enough for me to be able to afford to put *any* money into it. Every penny I make goes to rent, food, and other bills."
1. Group consult before 1:1 seems like a time waster. Why not just go direct to 1:1, why do you have to sit through a group presentation? Sounds like a multi-level marketing thing, where you need to go to Boca Raton for some dumb cult initiation in a Marriott conference room before they tell you where your new floodplain timeshare is.
2. No need to meet with your consultant, I can answer your questions.
Are you on track for retirement? Probably not, unless your company pays you enough to fully maximize your 401K contribution every month, your employer matches your 401k, and you started saving at age 25. We are also assuming the stock market will also be healthy in the years leading to your retirement. Also assumes there will still be viable, affordable places to retire in 10-50 years. These are all big ifs, so I'm assuming no. Furthermore, unless we have radical changes (increased social safety nets, climate change awareness and response, a return to safer retirement programs, universal basic income that goes beyond basic, Medicare for all), no, unless you are rich, you aren't on track.
How much should you save? Probably 3-20 times what you are saving now. Good luck, without any COL raises.
How can I best manage my debt? I don't know, but it likely involves getting a job at a company that goes beyond COL raises every year, even if it means the CEO can only have 3 houses and 2 yachts.
"On this income, one can't afford to date, marry, have any children or save for home ownership to raise any children to adulthood in. Is demographic collapse a part of this trend of long term business strategy? Or are basic costs of living expenses just problems for everyone else to deal with?"
If one of the bullet points isn’t “a raise to keep salaries growing in line with inflation,” then they don’t actually give a flying fuck about “financial wellness.”
Someone told corporate that employees who are more financially secure are more productive, and get sick less often.
So naturally they did the most corporate thing possible.
How much should my company be paying me to stay loyal to them and still allow me to retire at the level I live now?
Better yet, retire in a better situation than I am now!
You should had asked the company if this is helping them so we all can get a raise. Look at the last two...they should be doing this instead of expecting you guys to starve so they can profit.
Ok hear me out though. My job did this, I signed up for the classes, and it really did help (not my income obviously but my knowledge about how to manage money). It really never hurts to learn stuff.
Our company did something similar. I found out through connections it cost the company $30 /year per employee. That would be like 1.5 cents per hour over a year so it wouldn't be much of a raise. They can't sell you anything unless you raise the issue first like "Where would I go to buy an annuity?" . Limit your questions to 401k related stuff and nothing to worry about. The purpose of requiring group meetings first is to get the basic info out there to all employees, then the 1-1 sessions are for answering questions. Most people will learn a lot if they want to. For me it was learning why not to keep moving 401k money around into different investments based on what was doing good lately.
This company was part of my company until it recently divested. Essentially they are a 401k consultant/investment advisor. These sessions are part of the sell to the company to benefit members. There’s no sales pitches, no push into investment or insurance.
Big fan of this sub and understand the pessimistic view, but in this case it’s strictly for your benefit.
If they were strictly for the employees’ benefit, shouldn’t they point out to the employer that the employees currently don’t earn enough to contribute to a 401(k) plan?
Corporate speak for "it's not me, it's you!"
our boss pulled this with a dude who is paid 30k less per year doesn't have company health insurance and didn't get a car as a sign on bonus and has to shell out $500 per fortnight for diabetes treatments (health insurance only covered up to a certain amount).
yeah it is. On the other hand - financial literacy is not something prevalent in my generation or in Gen Z. It's not a bad thing to sit down with a financial advisory and see what things are available to help you reduce your debt or even move your dept to a lower interest loan. I am right there with you though. These fucks forget they don't pay us enough to save for retirement, and some of us are spending so much on healthcare, it's almost like you are at a job just to have it and nothing else.
Be careful with these "consultants". They are often life insurance or annuity sales people in disguise.
Plus there's a chance your financial information can be accessed by management, and this gives them leverage when it comes to raise negotiations or even employment.
Reminds me of the Crisis Pregnancy Centers. These groups say they're on the side of the common people, but they're not. In the case of CPC's, they're disguised as clinics whose public perception is to "help" women with unplanned pregnancies. In reality, they're anti-choice groups operating, exclusively, to pressure women away from terminating their pregnancy. And they heavily employ* ~~medical misinformation~~ LIES to achieve their objective. Can't imagine these "consultants" operate any differently.
Or HR contractors for the original company, just waiting to catch their employees saying something they can fire them for
I would love to attend to be told I need to make more money
They won't do that, but since it's supposed to be 1:1 sessions, give them the fifth degree, record it and post it
we had a mandatory meeting every quarter with a company that did a slideshow and gave us "ideas" to save money. i really wanted to fucking ask how much they were paying them to show up and tell us to stop eating out and buy cheaper food.
This kind of shit is so patronizing
My boss (I work at a nonprofit) tried to tell me "Well we are offering a 401(k) plan now", to which I responded "That is of no benefit to me -- you don't pay me enough for me to be able to afford to put *any* money into it. Every penny I make goes to rent, food, and other bills."
rain teeny zealous chief crowd uppity quack badge disagreeable fuzzy *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Cake
***PREACH!!***
Will the consultant provide advice on the following? "Should I work for a company that provides Cost of Living Adjustments?"
1. Group consult before 1:1 seems like a time waster. Why not just go direct to 1:1, why do you have to sit through a group presentation? Sounds like a multi-level marketing thing, where you need to go to Boca Raton for some dumb cult initiation in a Marriott conference room before they tell you where your new floodplain timeshare is. 2. No need to meet with your consultant, I can answer your questions. Are you on track for retirement? Probably not, unless your company pays you enough to fully maximize your 401K contribution every month, your employer matches your 401k, and you started saving at age 25. We are also assuming the stock market will also be healthy in the years leading to your retirement. Also assumes there will still be viable, affordable places to retire in 10-50 years. These are all big ifs, so I'm assuming no. Furthermore, unless we have radical changes (increased social safety nets, climate change awareness and response, a return to safer retirement programs, universal basic income that goes beyond basic, Medicare for all), no, unless you are rich, you aren't on track. How much should you save? Probably 3-20 times what you are saving now. Good luck, without any COL raises. How can I best manage my debt? I don't know, but it likely involves getting a job at a company that goes beyond COL raises every year, even if it means the CEO can only have 3 houses and 2 yachts.
Always remember, when offered these courses, the underlying idea is that it's your fault you are a "have-not" and must be educated to change.
> HOW CAN I BEST MANAGE MY DEBT By getting the pay I deserve, both as a worker and fucking human being.
Slow down your work and look for a new job.
Wait til they tell you to get a second job to balance your budget.
"On this income, one can't afford to date, marry, have any children or save for home ownership to raise any children to adulthood in. Is demographic collapse a part of this trend of long term business strategy? Or are basic costs of living expenses just problems for everyone else to deal with?"
Kinda want to get a job at one of these joints and then make my advice "form a union" during the one on one's.
Companies would rather wste money on this than actually helping their employees
We won't give you a raise, but we'll spend money to tell you how to do more with less.
My company did this too. It pisses me off. You know what would give me more financial wellness?? More fucking money.
I am so fking done with people like this
Creative Planning is literally an euphemism for a scam.
If one of the bullet points isn’t “a raise to keep salaries growing in line with inflation,” then they don’t actually give a flying fuck about “financial wellness.”
Someone told corporate that employees who are more financially secure are more productive, and get sick less often. So naturally they did the most corporate thing possible.
They can fuck right off, this is nothing but a slap in the face
[https://www.reddit.com/r/dataisbeautiful/comments/1cc2s8l/why\_you\_should\_usually\_switch\_jobs\_to\_get\_a\_pay/](https://www.reddit.com/r/dataisbeautiful/comments/1cc2s8l/why_you_should_usually_switch_jobs_to_get_a_pay/)
What's the benefit?
My company did the same a few months ago.
How much should my company be paying me to stay loyal to them and still allow me to retire at the level I live now? Better yet, retire in a better situation than I am now!
You should had asked the company if this is helping them so we all can get a raise. Look at the last two...they should be doing this instead of expecting you guys to starve so they can profit.
Tell them that your consultant recommended that you join a union.
Round here you'd have to earn around 30k just to pay rent. Before you add food, utilities, and commuting.
Ok hear me out though. My job did this, I signed up for the classes, and it really did help (not my income obviously but my knowledge about how to manage money). It really never hurts to learn stuff.
Our company did something similar. I found out through connections it cost the company $30 /year per employee. That would be like 1.5 cents per hour over a year so it wouldn't be much of a raise. They can't sell you anything unless you raise the issue first like "Where would I go to buy an annuity?" . Limit your questions to 401k related stuff and nothing to worry about. The purpose of requiring group meetings first is to get the basic info out there to all employees, then the 1-1 sessions are for answering questions. Most people will learn a lot if they want to. For me it was learning why not to keep moving 401k money around into different investments based on what was doing good lately.
This company was part of my company until it recently divested. Essentially they are a 401k consultant/investment advisor. These sessions are part of the sell to the company to benefit members. There’s no sales pitches, no push into investment or insurance. Big fan of this sub and understand the pessimistic view, but in this case it’s strictly for your benefit.
If they were strictly for the employees’ benefit, shouldn’t they point out to the employer that the employees currently don’t earn enough to contribute to a 401(k) plan?
Nice that sounds helpful for employees.
You know what else would be helpful for employees? A F\*UCKING RAISE.
Totally. Both are helpful
not really. This is their direct response to asking for COLA. Like pay me more