Drop Out of Your 401k

[LTFedExer]

Do you really want me to go find the posts where you went on and on about how pensions aren't necessary, that you have relatives that get along just fine without one, that what you save in your 401k will be more than enough? Say the word and I'll spend some time turning them up.

Be my guest. What I have always said was, you should not have to rely on your pension. That money should be supplemental income. I also never said I have relatives that get along without a pension. What I DID say was that those relatives work for companies that don't give a pension. Yet, they don't moan and groan about it. They could always leave for another company.

You CLAIM you were told you would top out in 7-8 years after being rehired...correct? How long did it take you to realize that wouldn't be the case? I know it didn't take 14 years.

 

[brett636]

Yes, you have a very nice pension at UPS. And are paid enough to save for retirement like you don't have one. FedEx on the other hand not only pays considerably less and terminated our traditional pension, they made sure through lobbying efforts that FedEx is classified differently than UPS to make sure we can't vote in a union. Something your company has protested for some time now as it gives FedEx an unfair advantage. Point out my failings all you want, but the game is rigged over here, the economy is bad and my health isn't much better, so I'm stuck. The guy who tells me I make plenty for what I do, that he fully funds his 401k, won't say what he grosses. I'll make about $42k this year. I'll get by fine. I won't however be able to save enough to have much of a retirement. My point is that FedEx, and other companies, are putting us in this position so that a relative few can do extremely well. And as our raises aren't keeping up with inflation it's getting worse for us every year. Amazing how we not only have to do without many things but are expected to shut up, know our place, and like it.

42k/yr, is about what I was making less than a year ago(just went fulltime driving last Oct.) Still did not stop me from saving into my 401k. As cachsux stated earlier everyone cuts their own deals. You've cut yours and aren't happy about it because someone else has a better deal than you. Now you can either work to better your situation or work to being others down to yours. It appears you have chosen the latter.

 

[vantexan]

Be my guest. What I have always said was, you should not have to rely on your pension. That money should be supplemental income. I also never said I have relatives that get along without a pension. What I DID say was that those relatives work for companies that don't give a pension. Yet, they don't moan and groan about it. They could always leave for another company.You CLAIM you were told you would top out in 7-8 years after being rehired...correct? How long did it take you to realize that wouldn't be the case? I know it didn't take 14 years.

No, I realized very quickly after I was rehired it wasn't going to happen in 7-8 years. What bothered me was that I was told that in the first two stations I worked at and that those mgrs and mgrs I worked with in other locations were telling newhires the same thing. It was something they were being told to say. Are you saying it's ok to get people to do your
work by lying to them about what you will do for them in return? And then down the line
say all shucks, I was just joshing? This from a company that claims it puts it's people first. Anyways, I started researching places to live where I could get by on my pension, thinking a pension in the low $20k's would still be a good thing to have. Now that's not happening either. And while folks like Cachsux will tell me I should have left FedEx long ago, I was working for that pension, which at least I'll get $13k a year at 55. And Brett, my $42k this year includes OT and selling 2 weeks of vacation. How much were you saving on your $42k? How much was your wife bringing in so that you could? Slam me personally all you want, the top brass in this country are pushing all of us to accept less and less so that they can get extraordinarily wealthy. You guys at UPS apparently have had it better long enough now you can't see the problem. Don't worry, your kids will. God Bless the U.S.A.!!

 

[brett636]

No, I realized very quickly after I was rehired it wasn't going to happen in 7-8 years. What bothered me was that I was told that in the first two stations I worked at and that those mgrs and mgrs I worked with in other locations were telling newhires the same thing. It was something they were being told to say. Are you saying it's ok to get people to do your
work by lying to them about what you will do for them in return? And then down the line
say all shucks, I was just joshing? This from a company that claims it puts it's people first. Anyways, I started researching places to live where I could get by on my pension, thinking a pension in the low $20k's would still be a good thing to have. Now that's not happening either. And while folks like Cachsux will tell me I should have left FedEx long ago, I was working for that pension, which at least I'll get $13k a year at 55. And Brett, my $42k this year includes OT and selling 2 weeks of vacation. How much were you saving on your $42k? How much was your wife bringing in so that you could? Slam me personally all you want, the top brass in this country are pushing all of us to accept less and less so that they can get extraordinarily wealthy. You guys at UPS apparently have had it better long enough now you can't see the problem. Don't worry, your kids will. God Bless the U.S.A.!!

Its all simple math really. Remember that compound growth is your friend. If I could save $1m for retirement(very doable if you save consistently enough) and invested it very conservatively at 5% upon retirement you would see $50k/yr in income from it. That already exceeds your pension and even my own. I can already project my 401k savings to be well into the 7 figures come retirement even under my old pay rate which was comparable to yours. The difference between me and you is you are focused on what other people have that you do not while I could care less and will work with what I do have.

 

[vantexan]

Its all simple math really. Remember that compound growth is your friend. If I could save $1m for retirement(very doable if you save consistently enough) and invested it very conservatively at 5% upon retirement you would see $50k/yr in income from it. That already exceeds your pension and even my own. I can already project my 401k savings to be well into the 7 figures come retirement even under my old pay rate which was comparable to yours. The difference between me and you is you are focused on what other people have that you do not while I could care less and will work with what I do have.

Except you don't take into account that you were able to save more than me because you had more coming in, not just your income. You don't take into account that inflation will also eat at the money you will have later, not so bad for you because you'll have more than me because you were able to save more. Plus you'll have a much larger pension than I will so very disingenuous of you to talk about how you were able to have so much more than me even though we started at the same amount. Not true, you're just trying to win an argument. Truth is you don't give a flip about me or the 10's of millions of Americans who are getting pushed out of the middle class. You just don't want anyone screwing with your money. So attack and discredit the messenger all you want, if many millions of Americans take THEIR money off the table just maybe those in charge would agree to pay them better. And so we're clear, I'm not talking about giving us something for nothing. Just getting us to top pay in a reasonable time. Takes you guys what, 3 years? I'd settle for 10. By the way, as a PTer with UPS weren't you still making about $29 to $30 an hr? You were making more than me on less hrs with better benefits to boot and a real future. There's no future at FedEx anymore so real nice to judge me for being angry about it.

 

[cachsux]

There's no future at FedEx anymore so real nice to judge me for being angry about it.

Ok, I give up. Where do I send the check?

We`re not judging you for being angry. We`re judging you for being like so many others nowadays that don`t want to elevate themselves to a higher level. They want the level brought down to them. Quit your job, have twelve kids, and get on the Govt teat like the rest. Maybe our friend to the north will sell, sorry give, you a hotdog vendor franchise and you`ll be all set.

 

[vantexan]

Ok, I give up. Where do I send the check? We`re not judging you for being angry. We`re judging you for being like so many others nowadays that don`t want to elevate themselves to a higher level. They want the level brought down to them. Quit your job, have twelve kids, and get on the Govt teat like the rest. Maybe our friend to the north will sell, sorry give, you a hotdog vendor franchise and you`ll be all set.

So you are saying that if a person works harder than most, as hard as the rest, he shouldn't be rewarded for his efforts? Easy to say from where you are, maybe you'd feel different on this low level I'm on. Good luck with your money, you'll need it.

 

[cachsux]

So you are saying that if a person works harder than most, as hard as the rest, he shouldn't be rewarded for his efforts? I know some very wealthy people who worked nonstop for NO compensation to get themselves started. What`s your excuse?

Easy to say from where you are CRYING , maybe you'd feel different on this low level I'm on LOWER YOURSELF TO MY LEVEL. Good luck with your money, you'll need it.

Yep, proved my point.

 

[bbsam]

There is a future at Fedex for those not adverse to taking on responsibility.

 

[cachsux]

There is a future at Fedex for those not adverse to taking on responsibility.

That`s a strike pitch in this thread.

 

[vantexan]

There is a future at Fedex for those not adverse to taking on responsibility.

There's a future at FedEx if you are willing to exploit others for money. There was a bright future in the Nazi Party at one time too.

 

[vantexan]

Yep, proved my point.

You and Brett are the one's who keep talking about lowering everyone to my level, as if the people who do my job at FedEx are inferior to your people. I think the real problem here is you see yourself as superior because you have more money. You are keeping up with the Joneses. I, impudent worm that I am, will be living as well as you on considerably less. It gnaws at you because you don't have the spine to move overseas. Why, I should stay here and live poorly and know my place! I'm no lackey, will make my way just fine, will be retired just fine in a few years, and you'll still be humping to pay for your overpriced American Dream. Vaya con Dios mi amigo!

 

[LTFedExer]

Truth is you don't give a flip about me or the 10's of millions of Americans who are getting pushed out of the middle class.

I know your not saying UPS drivers are upper class in salary. Besides, lower/middle/upper class (salary-wise only) depends on where you live. A driver making $32/hr in NYC lives nowhere near as well as a driver making $32/hr living in Podunk, USA.

 

[vantexan]

I know your not saying UPS drivers are upper class in salary. Besides, lower/middle/upper class (salary-wise only) depends on where you live. A driver making $32/hr in NYC lives nowhere near as well as a driver making $32/hr living in Podunk, USA.

Agreed, but the $32hr driver lives much better than the average FedEx driver in NYC. And FedEx drivers in Podunk will be on the lowest payscale, so can't even begin to compare them to the UPS driver.

 

[brett636]

Except you don't take into account that you were able to save more than me because you had more coming in, not just your income.

What do you think I am saving with? my good looks? It wasn't that long ago that you and I were making the same amount of money. In fact my bet is you probably earned more than I did over the last decade as a lot of those years I was lucky to break $25k.

You don't take into account that inflation will also eat at the money you will have later, not so bad for you because you'll have more than me because you were able to save more

I always take into account inflation which is why I am saving every penny I can for retirement. My hope is to have atleast a million in savings by retirement, but I am shooting for more. Anyone can save that much if they are consistent about it. Even you.

Plus you'll have a much larger pension than I will so very disingenuous of you to talk about how you were able to have so much more than me even though we started at the same amount. Not true, you're just trying to win an argument. Truth is you don't give a flip about me or the 10's of millions of Americans who are getting pushed out of the middle class. You just don't want anyone screwing with your money. So attack and discredit the messenger all you want, if many millions of Americans take THEIR money off the table just maybe those in charge would agree to pay them better. And so we're clear, I'm not talking about giving us something for nothing. Just getting us to top pay in a reasonable time. Takes you guys what, 3 years? I'd settle for 10. By the way, as a PTer with UPS weren't you still making about $29 to $30 an hr? You were making more than me on less hrs with better benefits to boot and a real future. There's no future at FedEx anymore so real nice to judge me for being angry about it.

There are so many different ways I can answer this. First off as I stated earlier my pension is not taken into consideration when I set my contributions to my 401k. I save as though I have no pension, so bringing it up is not helping your cause. You're right that I don't give a flip about you or the other millions of Americans who cannot manage their finances effectively and think its someone else's responsibility to do so. When I retire I expect to have enough to live comfortably and if I go back to work I will do so at my choosing, not because I have to. Moving out of the country isn't necessary because I'm responsible. As far as others screwing with my money, I will assure you that you are not my concern. In fact I am young enough that I welcome the prospect of a market dip because all it does for me is make investments cheaper to get into and buy more of. The only group of people I fear that could someday mess with my retirement are my politicians who are actively pursuing either forcing me to invest it in government bonds or confiscating it completely and making me take whatever they feel I should get later.

You must not be very familiar with UPS part time pay if you really think I was making anywhere near $30/hr. There were several years where I was lucky to take home $130 a week.

You and Brett are the one's who keep talking about lowering everyone to my level, as if the people who do my job at FedEx are inferior to your people. I think the real problem here is you see yourself as superior because you have more money. You are keeping up with the Joneses. I, impudent worm that I am, will be living as well as you on considerably less. It gnaws at you because you don't have the spine to move overseas. Why, I should stay here and live poorly and know my place! I'm no lackey, will make my way just fine, will be retired just fine in a few years, and you'll still be humping to pay for your overpriced American Dream. Vaya con Dios mi amigo!

This is exactly your problem, you are too worried about keeping up with the Jone's which is why you have such a bleak outlook on retirement. I drive a 15 year old car, and take a vacation once every other year if that. These are the kinds of sacrifices you have to make if you want to have a well funded retirement. I listen to Dave Ramsey when I can, and one of his sayings are "Live like no one else, so that later you truly live like no one else." Your so obsessed with what other people have that you cannot see that you have what you need to make it if you just used it effectively.

 

[UpstateNYUPSer(Ret)]

Brett, excellent advice as always; however, as I recall, you are single with no dependents. As a father of two I can tell you from experience it is very easy for retirement funding to get put on the back burner. Having a pension in my back pocket made it even more so. It is only now that I am able to focus on my 401k.

 

[cachsux]

You and Brett are the one's who keep talking about lowering everyone to my level, as if the people who do my job at FedEx are inferior to your people.
Boy, you have a serious comprehension problem don`t you? I or Brett have never said everyone should be lowered to your level. YOU did. I just pointed out you have the cry-baby mentality of worrying what others have instead of doing whatever it takes to be responsible for yourself.
I have no problem with FedEx,and your predecessor RPS, never did. There was mutual respect between us when I was in package car.

I think the real problem here is you see yourself as superior because you have more money. You are keeping up with the Joneses.
Where did I ever imply that I was superior? Because I have the work ethic to stick with a job through thick and thin for 25 years? I have never lived closer than 1 hour away from any UPS building I have worked at, 1:45 away from the building I drove package out of. Even when I was making $8 an hour as a ptimer. I made the time investment with the company and it has paid off. No one gave it to me.

Because I had the fortitude to stick to a savings and investment plan instead of blowing money faster than I earned it? My parents lived through the Great Depression and raised me to always put money aside when I made it. Never less than 10% of every dollar all the way back to the days of lawn mowing and working fast food. Once again no one gave it to me.

I, impudent worm that I am, will be living as well as you on considerably less.
I doubt that. I would tell you what our plans were but that would only p you off more.

It gnaws at you because you don't have the spine to move overseas.
Why would I want to move overseas? So I could "feel superior" to some native barely scraping by on near third world wages? What a big man you will be,Gringo. Hope some desperate third world FedEx guy doesn`t mug you for your wallet.

Why, I should stay here and live poorly and know my place!
It`s your place because it`s the one you made for yourself.

I'm no lackey, will make my way just fine, will be retired just fine in a few years, and you'll still be humping to pay for your overpriced American Dream.
My dream is already paid for. Sorry to disappoint you.

Vaya con Dios mi amigo!
Don`t let Americas door hit you in the ass.

How are you going to fund your retirement if you keep paying Klein to write your script for you?

 

[vantexan]

How are you going to fund your retirement if you keep paying Klein to write your script for you?

Touched a nerve with you guys, huh? Go back and read your posts. You talk about how I want to bring everyone down to my level. You feel superior, rub it in every chance you get. Your American Dream is overpriced, and you've spent your life chasing your tail trying to obtain it. So much so that you can't understand anyone that doesn't share your values. Pathetic.

 

[UpstateNYUPSer(Ret)]

Google "displacement"--scroll down to the psychological definition.

 

[cachsux]

Touched a nerve with you guys, huh? Go back and read your posts. You talk about how I want to bring everyone down to my level. You feel superior, rub it in every chance you get. Your American Dream is overpriced, and you've spent your life chasing your tail trying to obtain it. So much so that you can't understand anyone that doesn't share your values. Pathetic.

Whats pathetic is you`re paranoid delusional. Doe`s FedEx` insure cover that like UPS` does? Or is ours.........superior?