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Brown Cafe UPS Forum
UPS Retirement Topics
401K set up advice
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<blockquote data-quote="Richard Harrow" data-source="post: 1258921" data-attributes="member: 29614"><p>Congratulations on being responsible enough at 22 to think about your future. I was also 22 when I started my 401k. Some things I learned then and more recently that may be of help to you:</p><p></p><p>As ChickenLegs said, direct funds towards the Bright Horizon fund that's closest to the year that you hope to retire.</p><p></p><p>The S&P's and the Russell 2000 are good bets, they are what I've made a lot of my own gains on.</p><p></p><p>Don't waste your time with the REIT's. Not for a while at least. </p><p></p><p>The company does not match your contribution, but do deduct as much as you can. The government is not taxing this money (yet), so think of it as them paying you to save money.</p><p></p><p>Don't waste your time with the discounted UPS stock plan. The discount is only 5%, and on the final day of the quarter before the purchase, the company buys back stock, driving up the price and in turn lessening the amount you'll purchase.</p></blockquote><p></p>
[QUOTE="Richard Harrow, post: 1258921, member: 29614"] Congratulations on being responsible enough at 22 to think about your future. I was also 22 when I started my 401k. Some things I learned then and more recently that may be of help to you: As ChickenLegs said, direct funds towards the Bright Horizon fund that's closest to the year that you hope to retire. The S&P's and the Russell 2000 are good bets, they are what I've made a lot of my own gains on. Don't waste your time with the REIT's. Not for a while at least. The company does not match your contribution, but do deduct as much as you can. The government is not taxing this money (yet), so think of it as them paying you to save money. Don't waste your time with the discounted UPS stock plan. The discount is only 5%, and on the final day of the quarter before the purchase, the company buys back stock, driving up the price and in turn lessening the amount you'll purchase. [/QUOTE]
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