UpstateNYUPSer(Ret)
Well-Known Member
Did you get any of hers or was she not working as a nurse at the time?
She had a 403b with a minimal balance.
Did you get any of hers or was she not working as a nurse at the time?
I used to have a wife----now she has 1/2 of my (1996) 401k balance and 16% of my pension.
You are lucky it`s only 16%. Most divorced UPSers I know have to give 50%.
I started saving 15% pre-tax in 1993 and had 52,000 in 2000. Took $26,000 out in the year 2000 for down-payment for my house in the form of a loan. I paid my 401k back at 12% interest. Then in 2008 right before the financial crash i was smart enough to listen to my brother and moved all my money to the stable value fund. Put all back into S&P 500 fund when market was at around 7,400. Now I have over $227,000. Still have 8 years to go and still have 10% going in every week.I didn't really start to get aggressive with my 401(k) plan until I was late into my UPS career. I know a lot of people started on their 401(k) very early; so how much have you accumulated?
Get in the way? Priceless...Started my 401k in 1990. Took advantage of the educational loan process 8 times (2 loans active at the same time over the course of 4 years) to pay my share of my daughter's tuition. As was mentioned above, took a big hit in 2008. Currently withholding 25% of pre-tax with a balance of $80K. 6 years left and I expect to retire with a balance of at least $200K.
Looking back, I should have invested more when I was younger, but it is amazing how having a family and raising kids gets in the way.
??? Isn't that kind of personal to ask what the balance is? JMHO
I can understand asking the percentage saved every week. I can also understand asking which of the savings plan chosen. I can also understand asking when a person started saving. But the balance? Guess I was just raised a little differently than some.
I will say this - when the market took its major hit in the latter part of 2008 - we lost quite a bit. Never really recovered it all before retirement. That has made a difference now. Wish that we had been able to have the financial advisor handle it then that handles it now.
Did you get any of hers or was she not working as a nurse at the time?
She had a 403b with a minimal balance.
I started saving 15% pre-tax in 1993 and had 52,000 in 2000. Took $26,000 out in the year 2000 for down-payment for my house in the form of a loan. I paid my 401k back at 12% interest. Then in 2008 right before the financial crash i was smart enough to listen to my brother and moved all my money to the stable value fund. Put all back into S&P 500 fund when market was at around 7,400. Now I have over $227,000. Still have 8 years to go and still have 10% going in every week.
Does anyone remember the Big Johnson T shirts? They were hilarious.I was told by a card reader to look for a big johnson. I wonder..................
I still see them at the mall. They are hilarious.Does anyone remember the Big Johnson T shirts? They were hilarious.
Started in 1989 and only put in 3 - 4 % through 1994.
In 1995, I figured out where UPS was going in regards to taking care of us and started putting the max into 401k.
I think the max was something like $12k a year in 1995.
Last year it was $23,000 since I can put extra in the +50 Catch Up.
This year (2 months of UPS salary + MIP) I am hoping to put in around $18,000.
I have more in my 401k account than the value of my pension (based on UPS Total Rewards).
As of today, I am retired and officially no longer a UPS employee.
I have a business with two IC (Independent Contractor) jobs (Photography related) of which I hope to put some funds in a ROTH SEP starting next year (you cannot contribute to two separate plans in the same calendar year).
I plan to continue to put money into tax-advantaged funding as long as I can ... hopefully at least 8 more years.