UPS, are you asking for it?

ORLY!?!

Master Loader
You have a cash reserve that would last well over a year yet $1/week, $52 per year, is huge??

Just curious, why do you call a 401k "the golden handcuffs"?

Any money spent long term or short is a huge waste to me. Plus, I hate charities that have ceo spokes persons making over 6ks for little to no work.

The reason 401k is called the golden handcuffs is because they pretty much set you up to stay where you are or else where until it is complete so you can finally retire or at least stay comfortable for some time there after. Pretty much means you have to work, you have to complete that golden 401k handcuff, because you just have to or else its a waste... so you have to work just to complete it. Think for quitting or get fired and you automatically think of it, and how much farther you need to go to finish it.

It means youre stuck where you are seemingly forever.
 

UpstateNYUPSer(Ret)

Well-Known Member
UPS is my career and I consider my 401k to be a supplement to my pension. Now that I have turned 50 I can contribute more as the annual liimits are higher when you turn 50 ("catch-up contributions"). My 401k contributions come right off of my taxable income. I adjust my withholdings so that my take home pay remains the same. SS will be my "fun money".

I contriibute to UW as it is easier for me to do it through payroll deduction plus UPS matches 15%. I choose where I want my money to go and I deduct my contributions off of my taxes, which gives me a 25% return on my donation.
 

ups clerk

Well-Known Member
I dont know whats going out there, but something is happening at UPS, something big. The amount of work has increased, yet no ones around to help. Air for drivers has increased no matter the time to travel to each route. Drivers are being fired here and there, and talk of others being fired elsewhere.

Is it me or is this company going to see another strike soon?

This company does weird things, all of you can admit to that. I like staying around to see the show. But is it me or are things going to get real ugly in the near future (well, more then usual ).

Let us know what you think. Is it conspiracy, is it end times or is the same garbage this company does to us each and everyday. Thanks!
 

Signature Only

Blue in Brown
That big house on the hill surrounded by mud huts has lost its awesome charm.
I love watching people talk the tough talk as they play russian roulette. I'm at a point in my career where I have diversified my investments and I'm putting the last couple pieces in place for retirement. I really dont care what you folks do with the company after I am gone. If you want to put the gun up to your temple and pull the trigger then feel free to do so. Just spare me the Rambo rhetoric when you do so. I can only puke so much.
 

Catatonic

Nine Lives
Any money spent long term or short is a huge waste to me. Plus, I hate charities that have ceo spokes persons making over 6ks for little to no work.

The reason 401k is called the golden handcuffs is because they pretty much set you up to stay where you are or else where until it is complete so you can finally retire or at least stay comfortable for some time there after. Pretty much means you have to work, you have to complete that golden 401k handcuff, because you just have to or else its a waste... so you have to work just to complete it. Think for quitting or get fired and you automatically think of it, and how much farther you need to go to finish it.

It means youre stuck where you are seemingly forever.

OK, I've read this 3 times and slept on it and I'm still trying to figure out what you are saying.
I think you have confused pensions with 401k.
Pensions do what you are saying - you have to stay with a company for a long period of time and until a certain age - you are trapped to some extent.
A 401k frees the individual from that entrapment. a 401k account is transferable between companies and when you leave a company, you can transfer to another holding house such as Vanguard or Fidelity.
 

UnconTROLLed

perfection
OK, I've read this 3 times and slept on it and I'm still trying to figure out what you are saying.
I think you have confused pensions with 401k.
Pensions do what you are saying - you have to stay with a company for a long period of time and until a certain age - you are trapped to some extent.
A 401k frees the individual from that entrapment. a 401k account is transferable between companies and when you leave a company, you can transfer to another holding house such as Vanguard or Fidelity.

When you're 18 years old you know everything. "Golden Hancuffs"...who calls it that??? I'll have to google it, never heard of it. lol
 

UnconTROLLed

perfection
"Golden handcuffs are a system of financial incentives designed to keep an employee from leaving the company. These can include employee stock options which will not vest for several years but are more often contractual obligations to give back lucrative bonuses or other compensation if the employee leaves for another company."

Well I'll be damned, it exists but entirely the opposite of what a 401k retirement is all about.
 

pretzel_man

Well-Known Member
I knew that from the start, so I really didnt want a 401k ( aka the golden handcuffs ), SO I started a IRA and rolling IRA ( frist year in ) . One thing Im good at is numbers ( as in money ). As they came up to me about a dollar a week for their united way fund, thats 52 dollars a year, its huge and it hurts. I'm the same way with my small paycheck every week. I've saved a huge amount within the past three years. Want to stike, im good for well over a year and more. So I dont care where its headed.

Golden handcuffs are:
"The term “golden handcuffs” typically means some lucrative financial incentive to keep an executive or manager from leaving a company. Financial compensation is arranged in such a way to “handcuff” them to their particular job or company. "

Saving enough money to afford to be out of work is a good thing. Not affording to be out of work is also considered a "golden handcuff". Your thought that a golden handcuff is related to a 401K is incorrect.

401K's and IRA's are similar. According to the WSJ:
"While there are benefits and drawbacks to both options -- an IRA may offer more investment flexibility, for example, while a 401(k) can be easier to tap in an emergency -- a wrong decision can be costly, further eroding savings that already have taken a beating in the bear market."

Not being able to affort $1 for charity? Well, that's a personal decision. I always gave to charity. I give a lot more now because I remember what it was like to be poor.

Of course then there is a decision on whether to do a Roth or regular of each.
 

Re-Raise

Well-Known Member
Golden handcuffs are:
"The term “golden handcuffs” typically means some lucrative financial incentive to keep an executive or manager from leaving a company. Financial compensation is arranged in such a way to “handcuff” them to their particular job or company. "

Saving enough money to afford to be out of work is a good thing. Not affording to be out of work is also considered a "golden handcuff". Your thought that a golden handcuff is related to a 401K is incorrect.

401K's and IRA's are similar. According to the WSJ:
"While there are benefits and drawbacks to both options -- an IRA may offer more investment flexibility, for example, while a 401(k) can be easier to tap in an emergency -- a wrong decision can be costly, further eroding savings that already have taken a beating in the bear market."

Not being able to affort $1 for charity? Well, that's a personal decision. I always gave to charity. I give a lot more now because I remember what it was like to be poor.

Of course then there is a decision on whether to do a Roth or regular of each.

I think you have given Orly a few things to ask his mom about when he goes upstairs. After he completes this level of World of Warcraft......
 

Nimnim

The Nim
I think you have given Orly a few things to ask his mom about when he goes upstairs. After he completes this level of World of Warcraft......

Hey, any self respecting nerd has already achieved max level in World of Warcraft. Probably has to finish a raid though.
 

Bristol Brown

Well-Known Member
I hate working for UPS, they are a vile company WHO treat their staff like crap but I take it because the money is good.

I certainly havent been kidnapped but I do work to live.
 
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UpstateNYUPSer(Ret)

Well-Known Member
Are people only now realizing that UPS are a bunch of cnuts and a horrible company to work for?

I hate working for UPS, they are a vile company WHO treat their staff like crap but I take it because the money is good.

I certainly havent been kidnapped but I do work to live.

Thanks for that, are you the forum police?

Do us all a favor---go to tnet Looks like you would fit in really well over there.
 
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