this post was submitted on 23 Sep 2023
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It's only true for greedy idiots who think their 401k growing is the only way they'll be a millionaire, so they misguidedly enable wallstreet and big business, tax breaks, etc.
Bad people grow more conservative over time.
Normal people either go further left or simply stop progressing, which can appear like growing conservative as the world marches on.
You can't even touch your 401k until a few years before you die, so it would be weird if that was someone's primary concern.
When you desperately want to stop being a "temporarily embarassed millionaire" and become a real millionaire, people will push for what ever they can. A 401k is the only way most people ever see seven figures in an account.