Retirement website

Discussion in 'FedEx Discussions' started by Goldilocks, Jan 28, 2014.

  1. Goldilocks

    Goldilocks Well-Known Member

    http://retirement.fedex.com/ You can access this retirement website from your home. It shows our Traditional Pension and our PPP. Also, be sure and call their number and ask about the Leveling option for your Traditional Pension.
     
  2. vantexan

    vantexan Well-Known Member

    At 55 with the leveling option I'll get $1701 a month instead of $1130 with the normal payout(even less now that I'm married). Of course with the leveling option it drops to $229 a month after 12 years. Those are just my numbers. And about the only thing I want to think about with FedEx anymore is my pension. I still have dreams about it though. Good luck in Mexico Goldi!
     
  3. Goldilocks

    Goldilocks Well-Known Member

    But then SS kicks in.
     
  4. vantexan

    vantexan Well-Known Member

    Well sure, but as I didn't earn a full pension based on topout pay I've got to roll the dice with the leveling option. It's why I hope I can convince my wife our best chance at a decent retirement is south of the border. Looks more likely that I'll spend winters in Latin America somewhere, and the rest of the year scraping by in Kansas.
     
  5. Serf

    Serf Active Member


    Monterrey is lovely. But so is "the little apple" Manhattan,KS. ;)
     
  6. vantexan

    vantexan Well-Known Member

    Manhattan's great. The winters, not so much.
     
  7. MrFedEx

    MrFedEx Engorged Member

    So, what do you do in 12 years...move to a cardboard box?
     
  8. vantexan

    vantexan Well-Known Member

    Nah, an oversized shoe. I have a little sideline that's doing ok. That plus SS should get us by.
     
  9. Serf

    Serf Active Member

    LOL. Believe it or not I like this plan. I like it so much I intend to share useful yet boring stats about sources of retirement income. Some of which you know, some maybe not. First off, my advice is collect at 62. Big brother forced you to pay all those years. It's time to get some back. Your payout will be reduced if you claim early, and increase if you postpone collecting your payments. Example: if you are entitled to $1,000 per month at age 66(which is your full retirement age) you would get 25 percent less, or $750 per month, if you signed up at age 62. However, if you waited until age 70 to collect, you would get $1,320 per month, 32 percent more. And no additional benefit for delaying claiming beyond age 70 ( assuming you even live that long after a career at Fedex)

    Immediate Annuities. Guaranteed income for life is a big time benefit, but it comes at a cost. The first concern is that you are giving up access to your money in exchange for the income stream. If you are going to invest in an immediate annuity, only a portion of your total portfolio should go in. (Example: $100,000 investment will yield your around $755/a month. As you age, and whither away access to new money becomes vital. Retirees use an annuity to cover their fixed costs, and describe it as similar to having a salary to meet regular expenses.
    Problem is most immediate annuities provide for fixed payments, which are not adjusted for inflation. And more times than not you never end up making money on your investment, your lucky if you live long enough to break even. And since inflation goes up and your money is not adjusted for it. You ultimately lose. However, if your pension is crap or non exisistent, it's a great way to supplement income. (side note) Your guaranteed 755 bucks a month makes your royalty is places like Latin America! Not to mention your SS payment.

    What I plan on doing is simple. At 62 come hell or high water, don't have a mortgage payment. Start drawing a Social Security payment. (Statistics say most 55 and ups presently do not have at least 143,000 in their 401k plans) Don't be a statistic. I figure I can save at least 200,000. Roll about 130,000 into an annuity. I'll get Around 800 from SS assuming it still exists. Around another 800 from the annuity. Have at least 30-45K cash in a savings account. And take the lousy PPA in a lump sum, which I'm assuming won't even be more than 20k. My other job pays for car, insurance, mortgage, taxes, strictly.

    Own the house and live on my front porch like Clint Eastwood in Grand Torino in a tac deffered state income state like Tennessee, New Hampshire or Texas. Or sell it and head to Bangkok. Run for Mayor. Either way, the point is you do have options. And for a lifetime of being exploited, extorted, under appreciated, and run down. You still, can make it work.
     
  10. Goldilocks

    Goldilocks Well-Known Member

    You could take your leveling option on your traditional then at 62 file for SS. Your traditional will not go down that much and your SS will kick in.
     
  11. vantexan

    vantexan Well-Known Member

    I'll tell you a little secret. The world is awash with corn, wheat, and soybeans. Their price should go down considerably in the next few months as more supply comes online around the world. Wheat already is dropping and since opening my account Dec.12(I've got experience trading and it's very risky with no knowledge of how it works) I've made over $11k in wheat futures. Sometimes you just have to make your own pension.