Believe it or not this is another story about Costco. I do not work for them. Yes, I love their chicken and I did eat most of one last night, but I don't work for them. However, it can be a really good thing to work for them.
The article I recently read was about Tony Barzar, a 60-year-old cashier in Arizona, who started working for them in 1986, forty years ago. His 401k has over a million dollars in it. Costco's philosophy is to keep workers and pay them well which reduces the amount of money they have to pay for training new employees.
He is currently working part-time and still makes $32.90 per hour. He's also very good at his job. Although over the years he's been offered management positions, he's very happy doing what he does and has declined the promotions.
In 2009 his family bought a three bedroom house with a pool and they've traveled to Europe twice in the past decade. He also has pretty good health insurance from the company.
According to Costco there are thousands of employees who have over a million dollars in their 401k account which is pretty impressive. The first year turnover rate for employees is only 7% which is very low.
Two important things here: Saving money in a 401k does add up to a lot of money and there are some pretty great companies who do treat their employees very well.
No comments:
Post a Comment