New to retirement planning.

[feederman15]

I know there are many people asking the same questions but the more i read the more i get confused and discouraged. I am 28. I work in northern CA. I have been with UPS for 2 years. I am a part timer. my current plans are to stay with UPS and go feeder. I am currently enrolled i DESPP but I am only having about 5% ($10) per check removed which is roughly 5 stocks a year.

my question is how should i set up my prudential retirement plans and should i change my current contributions to the stocks. i am really looking to just figure out how to start it and how i should change it when i go full time.

 

[Brownslave688]

If you honestly have no clue where to start. Start by speaking to a financial advisor.

I have been planning my retirement since high school and I still seek professional help from time to time.

 

[upschuck]

I know there are many people asking the same questions but the more i read the more i get confused and discouraged. I am 28. I work in northern CA. I have been with UPS for 2 years. I am a part timer. my current plans are to stay with UPS and go feeder. I am currently enrolled i DESPP but I am only having about 5% ($10) per check removed which is roughly 5 stocks a year.

my question is how should i set up my prudential retirement plans and should i change my current contributions to the stocks. i am really looking to just figure out how to start it and how i should change it when i go full time.

I would guess to start, to go to UPSers.com, search 401(k) and then follow the directions to make account and start withdrawals. Roth is taken after tax(preferable), Normal is pretax, and reduces your tax consequences now. I personally would stop buying UPS stock and invest into the 401(k).

 

[Xexys]

You are young, put your money mostly in the S & P 500. Mix it up with some of the small cap funds. Stay away from bonds. I also agree with the poster that told you to stay away from buying UPS stock. You will get a much quicker return with the 401k and you'll be buying UPS stock anyway if you buy into the S & P 500.

When I bought into the S & P 500, it was trading at 397. Now, it's pushing 2000. Quite a nice return. Pennies will always make more pennies when the interest is compounding.