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UPS Retirement Topics
I need advice on 401K
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<blockquote data-quote="$BILL" data-source="post: 1834124" data-attributes="member: 59831"><p>Sorry new account as I forgot my password. I gross $2300 a week but through a decade of aggressive tax planning have gotten my tax rate to where i make $120k gross and pay $3.5k in regular federal income taxes yearly. Still working on reducing that but IRS has only so much of a sense of humor. Dont need it as I only have a mortgage for debt but having free cash flow is lots of fun. Dont get me wrong theres nothing wrong with saving its just that current fed policy is to encourage borrowing rather than saving in order to stimulate economic growth. retarded policy in my opinion, I am a natural saver at heart. The key is to save some but not too much as crazy as that sounds and work on maintaining benefits and reducing expenses during retirement. Its not even close that the gov is going to steal 70% of your savings (30 out of 100%). It is likely that they will steal some of it though. 15% is too much for me considering we EARN our pay. This sounds crazy but think about how crazy it is to cut current retiree pensions. I even doubted that would ever happen. THAT IS CRAZY POLICY!!! It is just plain wrong but it is current policy.</p></blockquote><p></p>
[QUOTE="$BILL, post: 1834124, member: 59831"] Sorry new account as I forgot my password. I gross $2300 a week but through a decade of aggressive tax planning have gotten my tax rate to where i make $120k gross and pay $3.5k in regular federal income taxes yearly. Still working on reducing that but IRS has only so much of a sense of humor. Dont need it as I only have a mortgage for debt but having free cash flow is lots of fun. Dont get me wrong theres nothing wrong with saving its just that current fed policy is to encourage borrowing rather than saving in order to stimulate economic growth. retarded policy in my opinion, I am a natural saver at heart. The key is to save some but not too much as crazy as that sounds and work on maintaining benefits and reducing expenses during retirement. Its not even close that the gov is going to steal 70% of your savings (30 out of 100%). It is likely that they will steal some of it though. 15% is too much for me considering we EARN our pay. This sounds crazy but think about how crazy it is to cut current retiree pensions. I even doubted that would ever happen. THAT IS CRAZY POLICY!!! It is just plain wrong but it is current policy. [/QUOTE]
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I need advice on 401K
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