How big is your 401k?

Discussion in 'UPS Retirement Topics' started by joesmith, Sep 16, 2014.

  1. joesmith

    joesmith Member

    How much was your 401k when you retired? Is it enough to live off of?

    How much money are you guys contributing to your 401k?

    My 401k is $40,000 I currently contribute 10% pretax and 5% after tax but I use that after tax as a slush fund. I buy $50 a week in UPS stock and have been known to cash that in every few years, I wish I had kept it all now. I currently have 100 shares on the books. So far this year I have earned 7% in my 401k. I like the reit fund. The s&p500 and s&p400 I have money going into the international fund and the Russell 2000 also. I wish I had been contributing 10% or more since I started.

    I hope to retire early but it’s looking like that is unlikely I’d like to leave when im 55 or 56 currently im 45 with only 10 years of full time service from what I can tell there is not much of a pension at 20 years. I am saving for retirement outside of the 401k as well. I hope my 401k will be worth $250,000 when I retire and I hope to have another $200,000 in assets.

    Anyone care to share your retirement savings strategy
  2. I will give you the same answer as I give my wife. its enough to live on,but not happily ever after.

    So she better keep me around!
  3. jerseyupser

    jerseyupser Member

    Just started driving a few months ago. I do $35 towards stocks at 5% towards 401k. I will gradually increase when I get raises.

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  4. Thats a great start.
  5. jerseyupser

    jerseyupser Member

    Yeah I think it is too. I'd like to try saving as much as possible ya know.

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  6. 728ups

    728ups offending people on the internet since 1995

    $150 a week in stock( on even years i cash the dividends,on odd years i roll them back into stock)
    4% a week into 401K

    right now i have $150,000 in stock and my 401k is valued right at $75,000. I plan on working on 5 more years minimum 10 more years maximum. I have no debt and live well within my means
  7. brownmonster

    brownmonster Man of Great Wisdom

    Nice pile built up. Big pile.
  8. brown bomber

    brown bomber brown bomber

    If only I could tell you my story
  9. Jones

    Jones fILE A GRIEVE! Staff Member

    I put 25% in the 401k with contributions split equally between the large cap, mid cap, small cap, reit, and international index. I hit the max contribution limit every year. Periodically (usually after a big run up) I move some of it into the bond fund which I currently maintain at about 35% of my total portfolio. Combined with my projected pension things look pretty good, but I never take anything for granted. Hope for the best, plan for the worst.
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  10. oldngray

    oldngray nowhere special

    Good strategy. Nicely diversified.
  11. AndUPSER

    AndUPSER Active Member

    I put 8% into my Roth 401k and plan to bump it up to 11% after I hit 3 years next year. I'm also looking into starting up a Roth IRA.
  12. Ms.PacMan

    Ms.PacMan Well-Known Member

    I have $400,000 in my 401k. There are 2 other drivers in my center with roughly the same amount. We've all contributed the max or close to the max for about 20 years.

    I also have $390,000 in other investments (IRA, brokerage acct, bonds). They both have large acreages that probably equal or exceed in value the other money I have saved.

    They each have wives that work and each have 3 kids and I was single and have one child. We are all in our late 40's. We didn't freak out during the down markets of 2001 and 2009. None of us did anything special other than continue to make our retirement saving a priority over buying crap.
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  13. brownmonster

    brownmonster Man of Great Wisdom

    Your last sentence is the key.
  14. Brownslave688

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

    Bump it to 20% when you hit full scale. You can't miss the money if it isn't there and you'll retire with a few million.
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  15. AndUPSER

    AndUPSER Active Member

    I'm only part time and most 4-6 years until I go full time. I do plan on going that high when I go full time, depending on family, etc.
  16. Ms.PacMan

    Ms.PacMan Well-Known Member

    I've posted something like this before (and I always loved seeing this kind of stuff when I started saving) so I thought I'd post a timeline again so you guys/gals who are just beginning to invest can see what 401k growth looks like over's very slow in the beginning. The first numbers are what I contributed each year, followed by my balance at the end of the year. I have mainly invested in the S&P, Midcap and Russell fund. The beginning years were at a 17% contribution rate, then 23%. I have it set to 24% now and it maxes out before Dec.

    1997 $1,708.55
    1998 $5,690.03
    1999 $6,626.22
    2000 $6,897.24..... $22,629
    2001 $7,256.94..... $28,202
    2002 $8,333.79..... $29,844
    2003 $8,764.04..... $48,077
    2004 $12,664.10.... $58,715
    2005 $13,449.72.... $65,617
    2006 $13,042.46.... $90,125
    2007 $14,250.08.... $114,455
    2008 $13,983.22.... $130,414
    2009 $14,440.19.... $101,191
    2010 $14,983.72.... $149,979
    2011 $15,862.60.... $197,842
    2012 $17,000.00.... $262,381
    2013 $17,500.00.... $366,606

    I got over $400K at that high in March but it's down some now (not sure the exact amount without looking).

    You can see that horrible dip in 2009!
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    Last edited: Sep 19, 2014
  17. Coldworld

    Coldworld Well-Known Member

    Do you guys who invest in the 401k feel as if there should be some additional choices to put your money into?? Seems a company as large as ups should be offering a few more funds..
  18. Coldworld

    Coldworld Well-Known Member

    Surprised that some of you have so much in ups stock....but are putting less into a do others feel about this
  19. Coldworld

    Coldworld Well-Known Member

    I have a 401k as does my wife, and we both have pensions..Western conference for me...along with SOME ups stock and a roth.....The biggest thing for us will be if our home will be paid off. Went with the 20 year so payments are large but I think we are doing well for two 40 year olds...I wish I could put a couple more percentage into the 401k but the kiddos need to be fed and have clothing bought once in a while. Hopefully when I leave ups I can work a small pt job and we can just live on the pensions and leave the 401ks until we have to start collecting on them.
  20. Coldworld

    Coldworld Well-Known Member

    Out of curiosity what area of the country are you you have reasonable housing or crazy high where you are..I think that is the biggest challenge when it comes to a 401k....many people now have very high rents or mortgages. ..along with the excess toys and such