BrownAtTheBeach
Member
does UPS match what i put in it and if so how much?
For mgmt\admins there is a 50% match for first 5% employee contributes. (this just started in jan 2011) we had a 100% on first 3% a few years ago, but that got taken away for a while due to bad economy. for newer non union there is a higher match closer to 100% for first 3%. Newer nonunion doesn't get a defined benefit pension. Instead gets defined contribution. This gets liability due to stock market losses off of company and onto employee.then i assume its not a good idea to contribute to 401k?
then i assume its not a good idea to contribute to 401k?
Dave Ramsey would rather you invest in a ROTH IRA
then i assume its not a good idea to contribute to 401k?
does UPS match what i put in it and if so how much?
then i assume its not a good idea to contribute to 401k?
Dave Ramsey would rather you invest in a ROTH IRA
HA HA HA, LOL. That was funny. Not in this lifetime unless you are in management. However, in defense of UPS they give the drivers one of the best pay/benefit packages in the industry so I will never complain about the lack of 401k match.
I would be tempted to trade the pension contribution for a 401k match because that would be money going into MY account that I can invest anyway I like. Unlike the pension money that goes into a pool with below average investors putting it to work.
Judge the 401K, as you wish, and use it or not.
After the "STRIKE" of 97', I realized my future retirement was in my hands.
The only reason I have the ability to retire at the age of 57 is due to my 401k, not my "promised" pension from Central States.
Save, study and invest.
At the age of 32, I was broke and owed many debts.
I ran across a quote from Thomas Fuller.
"Debt is the worst poverty."
I wrote it down on the first page of a spiral note book, as a header.
25yrs later, I still keep my investments logged into that thread bare journal.
UPS never matched anything into my 401K, but they gave me a chance to put my money into a tax free investment.
Best of luck,
Steve
Good for you. It's always great to see someone who is almost at the moment where their hard work and investing paid off. Enjoy it, you deserve it.
Nice Floyd quote below your post. I believe it starts with.... "Tongue tied and twisted just an....."
Mr. Ramsey teaches people how to get out of debt.Dave Ramsey has this way out concept of paying for stuff in cash, without borrowing, or going into debt..... ......
Mr. Ramsey teaches people how to get out of debt.
My smilely face is because I was doing what he preaches before he came on the scene.
I am glad to shout out....."I am debt free!!!!!"
I know,
I seem like McBragg, but it was a long, hard earned, worth while effort to get to this point, in my life.
Many could, and should, learn from what Dave Ramsey has to say on financial matters.