401k

[AndUPSER]

A 401k at 17 sounds like a great idea, but on second thought... do you have a savings account? You really want to have 5k or so in a savings account for emergencies first. Living with your parents is nice but once you get your own place and you have bills, and your car breaks down and you have to pay to fix it to get to work, that 401k won't help.

5% contribution is a great idea, but make sure you have emergency savings set aside first.

I've got 8k in a 401k but that didn't help when my transmission went out, or when my dog caught a nasty case of giardia and I got a nice 600 dollar vet bill.

Props to you for looking out for your future though, no one else is going to do it for you. Sounds like you've got a strong head on your shoulders so you've got a jump on most people your age.

Yes sir, I have a savings account that I'm adding on to.

 

[DriveInDriveOut]

17 years old, a nice savings account, a good union job, and now you're contributing to a 401k. Im jealous. Wish i could have had a start at adult life that good.

Hang in there and you'll be livin the good life before you know it.

I'm still paying off credit card debt from my misspent youth, steer clear of that route trust me.

 

[Brownslave688]

I would encourage u to goals 1 year out 5 years out and another super long term goal 20-30 years out. Don't get frustrated if u don't get it all right away. You have a great head on your shoulders it will come in time. I've watched a good friend take 3 pay cuts switching jobs this year because he wants it all right now. I know makes no sense. He's 22 and won't even consider ups because it could be a long time before he drives. Ill take a guess when he looks back at 40 he would of been much better off at ups in the long run.

 

[AndUPSER]

I would encourage u to goals 1 year out 5 years out and another super long term goal 20-30 years out. Don't get frustrated if u don't get it all right away. You have a great head on your shoulders it will come in time. I've watched a good friend take 3 pay cuts switching jobs this year because he wants it all right now. I know makes no sense. He's 22 and won't even consider ups because it could be a long time before he drives. Ill take a guess when he looks back at 40 he would of been much better off at ups in the long run.

Yeah I know the first few years will be tough. That's why I'm going to trade school or college and then using the education to get another job. By 21 I should easily be able to start driving Saturday air. If everything goes good, and I enjoy driving, hopefully I'll be able to start seasonal/cover driving by the age of 22-23. Then hopefully by the time I'm 25-28 I'll be able to get on full time. Also when I'm 21, I plan on getting my cdl's, and hopefully go into feeders in the 2nd half of my career at UPS, depending on family and lifestyle.

 

[What'dyabringmetoday???]

Per the contract.
I doubt if the teamsters would allow it but that would be something good for the Union members.

Is that the reason?

 

[wayfair]

that's why i'm going to trade school or college and then using the education to get another job.

stay in school

 

[DriveInDriveOut]

stay in school

If by school you mean trade school I couldn't agree more. If by school you mean college I couldn't disagree more, unless he plans on going to graduate school and getting a masters to put him ahead on the list of every other unemployable 20 something that is still living with their parents struggling to pay their student loans.

 

[brownmonster]

If by school you mean trade school I couldn't agree more. If by school you mean college I couldn't disagree more, unless he plans on going to graduate school and getting a masters to put him ahead on the list of every other unemployable 20 something that is still living with their parents struggling to pay their student loans.

You know my daughter?

 

[DriveInDriveOut]

You know my daughter?

LMAO.

 

[bumped]

I thought all new hires were automatically enrolled in the 401k plan. Don't you have to opt out.

 

[Brownslave688]

I thought all new hires were automatically enrolled in the 401k plan. Don't you have to opt out.

They should in a traditional cause I lose 2% to taxes anyway.