Who do i talk to about my pension and 401k?

Discussion in 'UPS Retirement Topics' started by margaritaville, Dec 27, 2014.

  1. margaritaville

    margaritaville Active Member

    Do i just randomly call my union? I feel dumb when it comes to this stuff so i dont even know the right questions to ask. I would rather feel stupid on a message board than over the phone.

    I get info in the mail all the time but its just numbers to me. I switched to fulltime recently and noticed 401k stuff coming out of my paycheck but i never agreed to it. However, i do want to contribute to my 401k and possibly more than i currently em. I just have no idea where to get started, roth vs whatever, etc.. Do i need to find a finicial advisor, call the union or what?
  2. I think they auto enroll all new hires.
    The union or UPS can not give you advice.

    Look online. their is so much info available.

    Feedthepig.org try that for starters
  3. margaritaville

    margaritaville Active Member

    Thanks i just want to get an idiots terms of how to set up a good plan. Not trying to go hardcore or anything. Just want to put back money and be able to watch it grow. For me trying to read this stuff i been getting in the mail is disorienting the same way if my truck is loaded terribly. Ill check out that site.
  4. Maybe try a target date fund. till you educate yourself. (Dont mean that In a negative way) put away what you can. You can change It,anytime you want to.
  5. Packmule

    Packmule Well-Known Member

    UPSers.com. Under "my life and career." Then "my money."
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  6. Mike hunt

    Mike hunt Guest

    It can't hurt to get a financial adviser asap. Once you hit top rate your pay will go up dramatically. If you Maxx out your 401 now you will never miss it once you are at top rate. You will be in such a good position down the road that you will flip. Do it for yourself. You will be so happy I
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  7. olroadbeech

    olroadbeech Happy Verified UPSer

    the 401k site has a lot of good info if you can navigate the site. it would not hurt to call the 401k people. there is no such thing as a dumb question.

    educating yourself as much as possible before talking to a financial advisor. it could mean hundreds of thousands dollars more after 25 years.

    I highly recommend daveramsey.com for good honest financial advice. you can listen to his radio show online.

    or google your 401k or financial questions. Vanguard.com also has great info.

    I'm a big believer in Index funds like S&P 500 and International Index funds. practically no one can beat the market long term.

    maxing out your 401k gradually over a couple years is one of the smartest things you can do. I save over 5 grand a year alone in federal taxes.
  8. Baba gounj

    Baba gounj pensioner

    Remember time is your best friend .
    Don't be jumping in & out of funds on market fluctuations .
    Pick a fund and stay there thru the highs & lows . Over the long term you will see growth .
    Currently I'm in 3 funds , with low management fees .
    And over the last decade my account has doubled .
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  9. oldngray

    oldngray nowhere special

    Trying to time the market is a recipe for failure. Just be patient and ride out the fluctuations. You are in it for the long term.
  10. Jones

    Jones fILE A GRIEVE! Staff Member

    The fees are huge especially over the long term. The difference between .1 and .01 might not seem like a big deal but over 20-30 years it works out to a serious chunk of change. Fees are the #1 reason I tell people to stay out of the targeted Bright Horizon funds, or any managed fund really.