401k

Discussion in 'UPS Discussions' started by Mo19072, Sep 20, 2019.

  1. Mo19072

    Mo19072 Member

    question to those who are close to retire. Did you sign up for 401k and how is your return?
     
  2. Yes

    Sign up now.
     
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  3. Wally

    Wally BrownCafe Innovator & King of Puns

    I have a solid $755.32 in there!
     
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  4. $700 more than @Future
     
  5. Future

    Future Victory Ride

    I was giving the max for a while ... but life’s circumstances changed that
     
  6. bowhnterdon

    bowhnterdon Active Member

    Signed up as soon as they offered it,started in ‘86 or ‘87 I believe.The first few years we had to pay all fees associated with the plan
     
  7. bowhnterdon

    bowhnterdon Active Member

    Past few years return has been anywhere from 8-17%
     
  8. Maple Grove MN Driver

    Maple Grove MN Driver Cocaine Mang!

    I maxed out my 401k every year for the last 15 years I worked.
    Current balance is over 1 million.
    Up 23.87% this year.

    Put every dollar you can in a 401k is my advice.
     
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  9. Wally

    Wally BrownCafe Innovator & King of Puns

    You need estate planning now. Good problem to have.
     
  10. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Close to retirement..... should have signed up 20+ years ago
     
  11. brownmonster

    brownmonster Man of Great Wisdom

    We have drivers that never signed up. What for, I have a pension.
     
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  12. What'dyabringmetoday???

    What'dyabringmetoday??? Well-Known Member

    Exactly. And if you are lucky, you are in one that is overseen by the IBT. Lol.
     
  13. Wally

    Wally BrownCafe Innovator & King of Puns

    Same mentality that will croak without any life insurance or assets put aside to pay for final expenses. Then the family begs for money.
     
  14. Even if you are fortunate enough not to take a pension cut, you will never get a raise. That's why you need a 401k
     
  15. Justaloader

    Justaloader Member

    401k is generally a good idea. Just pray the stock market doesn't bottom out. It happened a few years ago and people lost a lot of money. Any investment is a gamble, and returns aren't guaranteed. That said, most studies and articles I've read show an average of 6% return or more over the long haul (20+ years) on a 401k. Of course that rate of return will vary depending on what funds you invest in. Another thing I suggest (mind you I'm not a finance expert) - is every year or so, look in on your investments and see how they are doing. If some of them are performing poorly, maybe consider moving those investments into different funds. I personally try not to go with a "set it and forget it" mentality, but to each their own.
     
  16. Returntosender

    Returntosender Well-Known Member

    Yes people don’t t plan for the unexpected
     
  17. ManInBrown

    ManInBrown Well-Known Member

    24.25%^ since the day Trump took office for me.
     
  18. MattM

    MattM Member

    Has the max always been 35%? The personal performance viewer on Prudential is questionable. Change the window to last year and my 18% gains are actually negative. Long term, since I started, I think I’m up a total of 10%. So that viewer can be receiving

    So say you make $125k and put back 35%. After 15 years, that's $656,250. Which investments are y'all selecting to see those types of gains? You doubled your money?

    Since inception, not a lot of these different funds have growth as you're describing.
     
  19. 35% is the max but at that level of income it will put you over the IRS maximum amount that you can contribute per year
     
  20. silenze

    silenze Lunch is the best part of the day

    Yeah if you put 35% in you should hit the max by October. Then you get fat checks for the rest of peak.