Advice on retirement

Discussion in 'UPS Retirement Topics' started by BigBrownTown, Nov 4, 2015.

  1. BigBrownTown

    BigBrownTown Member

    Only been with UPS a couple years so I consider myself relatively new. I have a 401k set up. How many years do I need to put in with UPS before I qualify for retirement? Anything else I need to do or suggestions?
  2. rod

    rod retired and happy

    Being you just started-- the way things are going you should count on working about 70+ years.

    sorry--I couldn't resist
  3. burrheadd

    burrheadd Superstar

  4. brownmonster

    brownmonster Man of Great Wisdom

    Job position? Age? Management or non? Full or part time? Need the details.
  5. BigBrownTown

    BigBrownTown Member

    Unload, Part time, non-management. Age 21.
  6. PT Crazy

    PT Crazy New Member

    For part min. of 750 hours a year. Then work 25 years and out at any age, 30 and out, and 35 and out.
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Keep in mind that these provisions are for your pension plan and may differ for others.

    Start and fund your 401k with at least a 5% contribution. Choose the Bright Horizon fund closer to your target retirement date.
  8. olroadbeech

    olroadbeech Happy Verified UPSer

    if you are only 21 and wondering when you can retire from UPS you may be in the wrong job.
    • Like Like x 1
    • Agree Agree x 1
    • Disagree Disagree x 1
    • List
  9. Coldworld

    Coldworld Well-Known Member

    Did you choose bright horizon on your own or did a financial advisor?? What % growth have you had for the year???
  10. Coldworld

    Coldworld Well-Known Member

    Start putting something in there starting now even if it is only a few's all about time in slow and study..
  11. Jones

    Jones fILE A GRIEVE! Staff Member

    A financial adviser who tells you to put money in a BH fund isn't doing you any favors, which means he's a typical financial adviser.
  12. Coldworld

    Coldworld Well-Known Member

    I don't know much about bh but I do wish we would have a few more funds to pick from... The market is down for the year especially sp400 and sp500
  13. Jones

    Jones fILE A GRIEVE! Staff Member

    What kind of funds would you like?
  14. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    The ones that make money regardless of how the markets perform.
  15. Areyoukiddinme

    Areyoukiddinme best 2 weeks ever

    stay out of credit debt! save what you can, its gonna be a long haul. So go to school or get a second job til you can go full time...good luck
  16. clean hairy

    clean hairy Well-Known Member

    That you have been here only a coupla years, no one can say.
    Going to be (I guess) 5 or more contracts, and who knows what might happen that far into the future?
  17. rod

    rod retired and happy

    The writing is on the wall. I could tell you but you wouldn't like the answer.
  18. Dusty Buckets

    Dusty Buckets New Member

    Put your 401k into the s&p 500 account. Why? 1. lowest management fees. 2. S&P 500 accounts out perform 82% of "managed funds." Put 10% of your check away. Every year when you get a raise in August bump it up a percent until you've maxxed it out. You'll learn to live on less and you'll thank yourself when you finally punch out for the last time. No one ever said "Gee I wish I hadn't saved so much money for retirement." Go to and figure out how much you'll need to save to retire. Need $2000 a month? Sock away 625k and call it quits. Pay off your credit cards, cars, and home in that order. Never carry a balance on a card. Never take out a car loan. I made my last car payment in June 1991. I still make the payment, but it goes into my "car account." When I need some wheels, I have cash and can negotiate. Raise independent kids. At 18 they should be paying their own bills. And rent. And college. They have 40 years to pay off student loans you can only save for retirement once. And they won't help you with that so let them handle the college thing. Oh and have them move out. It'll build character.

    I'm eligible to retire in 27 months 17 days. I can live comfortably on just my pension. My 401k will be fun money. Social Security, if I get it, will be more fun money. I'm not counting on it. My children are out of the house, and they know they can't come back. My house is paid off. I got a raise of $450 a week after Thanksgiving because I maxxed out my 401k contributions. I'll lose that January first but that's ok.

    Spend some time at and for saving tips, frugal living, and ways to retire early.
    • Like Like x 2
    • Agree Agree x 1
    • Winner Winner x 1
    • List
  19. twoweeled

    twoweeled Active Member

    the way things are going. You may not be that far off.
  20. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Never too early to plan.

    I know a few guys that planned right and were gone the day they hit 25 years.