401K help

Discussion in 'UPS Discussions' started by big poppy, Jan 29, 2008.

  1. big poppy

    big poppy Guest

    i currently dont have 401k and i just went full time and wanna enroll...can somebody help and tell me how to go about it...thanks
  2. IDoLessWorkThanMost

    IDoLessWorkThanMost New Member

  3. Baba gounj

    Baba gounj pensioner

    Since we do not have a company matching funds policy, all monies invested have to come from you.
    Only invest an amount that you feel comfortable with.
    You can change the amount anytime ( + or - ).
    Please be careful when investing, keep all your monies to one or two funds until the amount grows large ( all funds have fees ) ( less fees = more money for you ).

    FAVREFAN Member

    Huh???????? DIVERSIFY!
  5. Yeah, diversify your way to wealth.

    Only way to wealth is to put your eggs in ONE basket and watch them.

    That's how your superiors retire with $5+ million in addition to their pension.

    I wouldn't recommend UPS at this point. FDX will eat their lunch for the next decade. Too many ex-UPS managers making the plunge and doing the consultancy gig for twice what they made at UPS for that to happen.

    That's what happens when you overpay the hired help and underpay their owners. LOL - all the way to the bank.
  6. upsdude

    upsdude Well-Known Member

    Get into it as soon as you can. As others have posted, the info can be found at upsers.com.

    Contribute as much as you can stand, you’ll never miss it later. I also do a “after tax” deduction and use the money for Christmas and vacations. Leave the credit card in your wallet.
  7. big poppy

    big poppy Guest

    any certains ones i shuld invest in? im green when it comes to this i havent a clue about the 401k business
  8. Baba gounj

    Baba gounj pensioner

    Right now the markets are in a state of roller coaster riding ( one day up another one down ) do not let that bother you. Just go along for the ride. Your best friend for investing is TIME.
    You are putting monies a side for later, hopefully many years later. Over time you will buy into funds when prices are low and when they are high too, do not let that bother you.
    Pick a game plan that you are comfortable with for today, because you are just starting out only one or two funds now , later when your account is larger you can spread your monies around into other funds.
    Check up on your account monthly, make adjustments as you see fit. And mostly just sit back and enjoy your life.
  9. browniehound

    browniehound Well-Known Member

    The market is choopy at best right now. But let's look at the big picture. It will increase over time.

    Being a teamster, as things stand you will be entitled to a pension. From what I underststand after 30 years of service our beneift will be in the 4 to 4.5 grand / per month range. Add to that our social security benefit of 1/2 what you expect, and then add our personal 401(k) investments and then anyone under 40 is looking at a very comfortable retirement from UPS and this is why I believe our jobs are more valuble than the great wage of 28.14 per hour might suggest.
  10. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Big Poppy, if you don't feel comfortable choosing which fund(s) to invest him , how much to invest, etc., the 401k plan has 4 funds, called the Bright Horizon Funds, which are tailored specifically to target your approx. retirement date. The Funds have four dates (2015, 2025, 2035, 2045) and you simply choose the date that most closely targets your projected retirement date and invest as much as you can in it and then don't touch it. The nice thing is that whatever you have had withheld and invested in your 401k comes right off of your gross pay for tax purposes. I would suggest that you find an older co-worker whom you feel comfortable talking about this with and he/she can help walk you through it. Investing does take some patience and the ability to withstand what can be big swings (mine went down over $5K just in the past 2 weeks) but is essential if you want to enjoy your retirement, as Social Security may or may not be there when you retire.
  11. upsguy1970

    upsguy1970 New Member

    What are the requirements for taking your after tax money out of your 401K?
  12. Ms Spoken

    Ms Spoken New Member

    I dont have my paperwork here in front of me but, I did move some $$$ around in the international fund and so far that has worked out great.
  13. helenofcalifornia

    helenofcalifornia Well-Known Member

    I have all my money in the "stable value fund" until the market regains some of its normalcy. I haven't made much money, but I sure haven't taken the roller coaster ride that we all did when the tech stocks tanked in 2001. I will get back into the international, russell, etc funds when things get back to "normal."
  14. brownmonster

    brownmonster Man of Great Wisdom

    When everything is normal let the rest of us know. I'll move my money into stable when I'm 70.

    FAVREFAN Member

    Bad move. You should be pouring into the S&P 500 and the other index funds available. Now is the time, especially when it is down. Look up the definition for "Dollar Cost Averaging". Please. That is how you make money over the long turn. Why get back in when it is back at the top? Buy low, sell high. Except you don't sell in your 401(k), you just start to take profits and move them into safer funds when closing in on retirement.
  16. helenofcalifornia

    helenofcalifornia Well-Known Member

    I don't know. I am not so sure that the market isn't still going to tank. I was losing thousands of dollars when the market began to go down when I was in S&P, Int'l, Russell, etc., and now I am not losing anything. Start a new thread and tell us all when you think the market is in semi-permanent correction.

    FAVREFAN Member

    Please no offense but you are not the type of person who should play with the stock market. Market timers ALWAYS LOSE in the long run. Did you look up Dollar Cost Averaging yet? Please do so. You will then understand why your theory doesn't work. Anyone else want to chime in here and help out our coworker so I don't look like an idiot with my advice for her?
    By the time you think the markets are getting back to "normal", you will miss the first 5-10% of the recovery and you will have missed out on buying those units at the low, low price.
    I'm done, do what you will. Peace out.
  18. brownmonster

    brownmonster Man of Great Wisdom

    When the market took a crap in the last time I watched my savings shrink and had to fight off doing something. I let it ride and my savings have tripled since. It's now on auto pilot. The key is not to constanly check your balance. Look at it every quarter. Helen, what is your age?
  19. govols019

    govols019 You smell that?

    I haven't looked at mine in close to 2 years.
  20. BigBrownSanta

    BigBrownSanta New Member

    Before any one decides to start investing in the 401(k) plan, the first thing you should do is realize that it will be a long term decision. It's not like a savings account where you just cash it in and spend it when you want. The penalty for withdrawing your money before retirement is substantial.

    Therefore, your first step before opening a 401(k) account is to save 3 - 6 months of living expenses in an emergency fund. During that time, learn to budget and stick to the budget. Also, take that time to read and learn how the markets work.

    A second thing is, markets go up and markets go down. Don't transfer out of a fund just because the market is down, instead buy in at the lower prices. You're supposed to be looking long term down the road, and odds are the market will recover.

    The way I read helenofcalifornia is she already had a large sum invested and wanted to preserve her nest egg by moving it to the SV fund. She is hedging against a further decline in the market. I think she doesn't mind missing the first 5 - 10% of a market recovery if it gives her peace of mind.

    She didn't say whether she is still making contributions to her 401(k). If she is, then her new contributions should go to the S&P type funds which would be dollar cost averaging at lower share prices and would lower her cost basis for her entire portfolio when she feels more confident in the market and decides to move her money from the SV fund.

    FAVREFAN, on the other hand, is a little more aggressive and is looking at the lower share prices as bargains. Not a bad move. His advice IS good advice.