Because it’s overcomplicated, the barrier to entry is significant, and we blame its problems on the consumer as “financial literacy”. Just over half of workers actually have one, and most of them are mismanaged by third parties lobbying for more complexity.
Because it’s overcomplicated, the barrier to entry is significant, and we blame its problems on the consumer as “financial literacy”. Just over half of workers actually have one, and most of them are mismanaged by third parties lobbying for more complexity.
This is still benefiting just over half of workers, not billionaires.
The billionaires own those third parties.