How big is your 401k?

[bleedinbrown58]

Community college is a great option but students going to one need to be self motivated because they won't get their hands held there. It is up to the student to learn and if they mess around it will be a waste of time for them.

That's any college though. Even the students who go to a 4 year university...if they're too busy partying to go to class and study...they flunk out. Which is a waste of time and money.

 

[oldngray]

That's any college though. Even the students who go to a 4 year university...if they're too busy partying to go to class and study...they flunk out. Which is a waste of time and money.

If they are at school on mommy and daddy's dime they don't care. If they pay at least part of their own way and work then they are usually more responsible. I had an extreme dislike for the frat boys there getting a free ride and knowing they had a job at daddy's company after they graduate.

 

[bleedinbrown58]

If they are at school on mommy and daddy's dime they don't care. If they pay at least part of their own way and work then they are usually more responsible. I had an extreme dislike for the frat boys there getting a free ride and knowing they had a job at daddy's company after they graduate.

I went to college partially on my parents' dime....if I had flunked out....they would've cut me off financially for sure.

 

[Brownslave688]

I went to school on mom and dads money. I didn't party but I didn't go to class either. Took 3 years to get an associates degree and then I was done.

My kids will pay for their school and I will reimburse them after they graduate.

 

[Returntosender]

Quote="bleedinbrown58, post: 1418603, member: 46975"]That's any college though. Even the students who go to a 4 year university...if they're too busy partying to go to class and study...they flunk out. Which is a waste of time and money.[/quote]
Arizona State is party school. From what I hear. ASU nano tech progam are 90% Asian students.

 

[bleedinbrown58]

Found one of my old checkbooks. (Remember the days when you wrote checks for everything?)
$50 or so a week,for food. Cable bill $21,water bill $60 (quarterly) Electric $45.
That was from the year 1999.

Wow...how times have changed...and 1999 doesn't feel all that long ago either.

 

[Brownslave688]

Wow...how times have changed...and 1999 doesn't feel all that long ago either.

This is why raises are so important for us young folk. Best paid in the industry or not our buying power drops everyday.

 

[bleedinbrown58]

This is why raises are so important for us young folk. Best paid in the industry or not our buying power drops everyday.

Agreed...I won't see another raise until July but I make more an hour now than I ever have in my life. Keep em coming!

 

[olroadbeech]

I didn't start saving until I was 38 years old. maxed out the 401k and my IRA. save almost $5000 a year in taxes. I figure that as a raise.

including cash and other investments , I'm over 7 figures and change.

my house is paid off. no car payments. pension, social security, 401k and IRA will be about $7700 a month.

I'm still healthy and I think that is more important than the money

 

[UPS4Life]

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 time....it'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!

I was wondering can you find the timeline on the retirement site or is this something that you have created? Thanks in advance


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[joesmith]

I have been inspired by a lot of the responses in this thread and i have increased my pretax 401k contributions to 22% for peak season to see how it goes. Last week my total deductions were about $400. I hope to continue this for they rest of my career.

Again id like to thank the people who posted in this thread.

 

[ups1990]

I showed it to my wife the other day and she starred with opened eyes.

 

[upssouth]

I have 12k in 401k. I'm 3 years into it and am under 30. Contribute 12% currently.

 

[UpstateNYUPSer(Ret)]

I have 12k in 401k. I'm 3 years into it and am under 30. Contribute 12% currently.

That's a very good start. If you can, try to increase your contribution rate by at least 1% whenever you get a contractual pay raise.

 

[IVE GOTTA PACKAGE 4U]

http://www.feedthepig.org/
This is a good site,to learn from. If you have little,investment knowledge.

 

[olroadbeech]

I have been inspired by a lot of the responses in this thread and i have increased my pretax 401k contributions to 22% for peak season to see how it goes. Last week my total deductions were about $400. I hope to continue this for they rest of my career.

Again id like to thank the people who posted in this thread.

your post made my day. thank you.

 

[upssouth]

That's a very good start. If you can, try to increase your contribution rate by at least 1% whenever you get a contractual pay raise.

Every raise I've gotten I've upped the contribution. I've gone hard this year and put in 7k. I will be a top pay in a matter of days. I know it does kind of hurt now but I'm hoping it will pay off later. Vested for 7 years at part time and working on 4 for full time.

 

[brownmonster]

My wife and I have each put in roughly 10% give or take over the years. Comes out to about a grand or more month. That's with 3 kids from day care to college degrees. Live on what you clear, not what you make.

 

[Anonymous 11]

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

Without my 401k I'm worth a million if im dead.

 

[The Driver]

Contributing 15% right now. No kids. My girlfriend and I rent. $20 a week in company stock.