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Brown Cafe UPS Forum
UPS Retirement Topics
Just started my 401k, thoughts?
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<blockquote data-quote="retiredTxfeeder" data-source="post: 1311200" data-attributes="member: 52978"><p>When I started with UPS in 1976 all that was available was "the thrift plan" it was $6.00 a week and it was all the company offered. $312.00 a year. supposedly it was tied into profits from the newly formed air services..next and second day air. Everyone I knew just let it ride. Out of sight, out of mind. Some years that fund paid over 30% of the compounded amount.They did away with that fund many years ago. Can't remember when they first started the 401k availability. I think someone earlier said it was about 1990. I started off easy, I think 6%. I realized quickly that it was a pretty good thing for me. The last 20 years or so I maxed out my deductions. I wish I had done it sooner. Originally I had it all in the S&P 500 till it started going downhill. This from a 38 year employee: deduct as much as you can afford at the time. Keep your eye out when they send you your statement. Look at what is working and what's not. I believe you can change your funds to a different fund every quarter simply by making a phone call. My son is a shifter at our hub. It's the same advice I gave him. Good luck in your financial endeavors.</p></blockquote><p></p>
[QUOTE="retiredTxfeeder, post: 1311200, member: 52978"] When I started with UPS in 1976 all that was available was "the thrift plan" it was $6.00 a week and it was all the company offered. $312.00 a year. supposedly it was tied into profits from the newly formed air services..next and second day air. Everyone I knew just let it ride. Out of sight, out of mind. Some years that fund paid over 30% of the compounded amount.They did away with that fund many years ago. Can't remember when they first started the 401k availability. I think someone earlier said it was about 1990. I started off easy, I think 6%. I realized quickly that it was a pretty good thing for me. The last 20 years or so I maxed out my deductions. I wish I had done it sooner. Originally I had it all in the S&P 500 till it started going downhill. This from a 38 year employee: deduct as much as you can afford at the time. Keep your eye out when they send you your statement. Look at what is working and what's not. I believe you can change your funds to a different fund every quarter simply by making a phone call. My son is a shifter at our hub. It's the same advice I gave him. Good luck in your financial endeavors. [/QUOTE]
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Just started my 401k, thoughts?
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