pension
- Thread starter ryan74701
- Start date
Anonymous 10
Guest
I would get a financial advisor at your age so you don't have to worry about it.
so why would someone my age just now starting with this company care about a pension? it wont be here when its time for me to retire (neither will social security), and i dont really understand how our 401k is setup, im putting in 3% right now and are they matching that? (union or ups or is it just earning off which ever mutual fund its in without a company match?) and even that is total crap when the markets collapse like dominoes in the next couple years, wouldn't the best thing to do at my age is to put my money into a savings account, and take that money every month and buy precious metals? maybe some commodity futures? hmm
Jackburton
Gone Fish'n
Psssstt, the world isn't going to end. Now is the time to get in while everyone with the "doom is near, hide your money under a mattress" preach the end of the economy. When all you hear on the news is bad, you start to believe it. Stop watching nightly news, take a look at all the investment opportunities on sale.
Jackburton
Gone Fish'n
It will get better, this isn't the first time the economy has taken a dive. American drive and ingenuity always prevails, look at Apple. Apple is an American company that revolutionized cell phones and tablets creating competition/marketplace. Back in the 80's Apple was close to bankruptcy yet they rose from the ashes and is now worth more than small European countries.
You may have a bleak outlook on the country, but I'm not ready to give up on America.
16 trillion in government debt, almost 1 trillion in student loan debt, no jobs, way higher unemployment than what is reported, food prices through the roof, have you seen what you can buy at walmart for $100 bucks (food)? it isnt much, we're in a period of stagnation and will be for years to come, this isnt doomsday propaganda its just fact. honestly i just want to live in a cabin on the river bank and grow a garden and feed my goats, instead we all waste away working 50-60 hours a week to make money to buy more crap we dont need.
Jackburton
Gone Fish'n
Simple solution is live within your means. There are jobs out there, the newer generation just doesn't want to get thier hands dirty. "I've got a college degree, I shouldn't have to work as a janitor until something better comes along". Last I checked I didn't tell Johnny he had to get a student loan the size of a small house to get his degree from an out of state college in "buisness management". As for food prices, I have a family of 4 I buy groceries for and spend around 150.00 a week at Kroger (I dislike Walmart for multiple reasons). We don't buy lobster every week, but we don't eat beans and rice either.
All of the reasons you've stated is exactly why I contribute the max for Roth401k. Taxes WILL go up because of those reasons you've mentioned, and companies will continue to adjust to market conditions, making a profit. You can only control your own family budget, everything else you can either stay away from or capitalize on.
All of the reasons you've stated is exactly why I contribute the max for Roth401k. Taxes WILL go up because of those reasons you've mentioned, and companies will continue to adjust to market conditions, making a profit. You can only control your own family budget, everything else you can either stay away from or capitalize on.
Unions don't keep pensions, they administer them. I'm in a green zone plan that's been union administered for nearly 70 years. Still going strong even after the 2008 Wall street disaster.
Every three years I get to vote on the folks who appoint those administrators. Company plans don't allow that option.
Brownslave688
You want a toe? I can get you a toe.
You need to be maxing out your 401k and an Ira if possible. I'm taking care of my own retirement and if I happen to have a pension and social security when I retire well that will all be play money.
old brown shoe
30 year driver
Take it one day at a time and invest what you can. You can't change how the world will be in the future but you can prepare for the worst and hope for the best.
That's my plan. I have no hope that there will be a pension (at least like what they led us to believe 25 years ago).
trickpony1
Well-Known Member
Don't worry.....be happy......
Obama will rescue us and take care of us.
Just ask TOS.
Obama will rescue us and take care of us.
Just ask TOS.
The Milkman
Well-Known Member
Back in 81 when I started I was 30..When contract times came around all the younger guys wanted $$$ now in their paychecks..I always thought I made decent wage and thought that it was in our best interests to fund the pension plan...because before you know it you approach retirement age and then you can look back and say " I am sure glad the pension was funded all those years" Retired in 08 and happy to be retired now and to all you younger guys....Get involved with the Union, Back them, if not for them I would not be where I am today..No matter what you think of the Union...Ups would be really making things hard for you and you would not have the benefits you have today and nothing would please UPS more than to get rid of all the older drivers and little by little go more and more P/T...And as I saw over my 25+ yrs many drivers quit after many years after dealing with all the BS and harrasment dished out daily
DorkHead
Well-Known Member
Back in 81 when I started I was 30..When contract times came around all the younger guys wanted $$$ now in their paychecks..I always thought I made decent wage and thought that it was in our best interests to fund the pension plan...because before you know it you approach retirement age and then you can look back and say " I am sure glad the pension was funded all those years" Retired in 08 and happy to be retired now and to all you younger guys....Get involved with the Union, Back them, if not for them I would not be where I am today..No matter what you think of the Union...Ups would be really making things hard for you and you would not have the benefits you have today and nothing would please UPS more than to get rid of all the older drivers and little by little go more and more P/T...And as I saw over my 25+ yrs many drivers quit after many years after dealing with all the BS and harrasment dished out daily
Can someone PM me what The Milkman is saying. I can`t read what he wrote.
Look into the new plan offered last year. Employer Roth 401K plan. There is "not" a $5000 a year limit on contributions, put as much as you can stand.
During our proposal meeting, I suggested that the Union ask for a match for employees who particpate in any 401K plan. Just my way ofhelping me achieve my retirement goals. Its call not keeping all of my eggs in one basket!
During our proposal meeting, I suggested that the Union ask for a match for employees who particpate in any 401K plan. Just my way ofhelping me achieve my retirement goals. Its call not keeping all of my eggs in one basket!
UpstateNYUPSer(Ret)
Well-Known Member
Back in 81 when I started I was 30..When contract times came around all the younger guys wanted $$$ now in their paychecks..I always thought I made decent wage and thought that it was in our best interests to fund the pension plan...because before you know it you approach retirement age and then you can look back and say " I am sure glad the pension was funded all those years" Retired in 08 and happy to be retired now and to all you younger guys....Get involved with the Union, Back them, if not for them I would not be where I am today..No matter what you think of the Union...Ups would be really making things hard for you and you would not have the benefits you have today and nothing would please UPS more than to get rid of all the older drivers and little by little go more and more P/T...And as I saw over my 25+ yrs many drivers quit after many years after dealing with all the BS and harrasment dished out daily
Can someone PM me what The Milkman is saying. I can`t read what he wrote.
Better?
