BigBrownTown
Active Member
Only been with UPS a couple years so I consider myself relatively new. I have a 401k set up. How many years do I need to put in with UPS before I qualify for retirement? Anything else I need to do or suggestions?
Advice on retirement
- Thread starter BigBrownTown
- Start date
rod
Retired 22 years
Being you just started-- the way things are going you should count on working about 70+ years.
sorry--I couldn't resist
brownmonster
Man of Great Wisdom
Job position? Age? Management or non? Full or part time? Need the details.
BigBrownTown
Active Member
Unload, Part time, non-management. Age 21.
UpstateNYUPSer(Ret)
Well-Known Member
Keep in mind that these provisions are for your pension plan and may differ for others.
Start and fund your 401k with at least a 5% contribution. Choose the Bright Horizon fund closer to your target retirement date.
olroadbeech
Happy Verified UPSer
if you are only 21 and wondering when you can retire from UPS you may be in the wrong job.
Coldworld
60 months and counting
Did you choose bright horizon on your own or did a financial advisor?? What % growth have you had for the year???
Coldworld
60 months and counting
Start putting something in there starting now even if it is only a few percent...it's all about time in slow and study..
A financial adviser who tells you to put money in a BH fund isn't doing you any favors, which means he's a typical financial adviser.
Coldworld
60 months and counting
I don't know much about bh but I do wish we would have a few more funds to pick from... The market is down for the year especially sp400 and sp500
What kind of funds would you like?
UpstateNYUPSer(Ret)
Well-Known Member
The ones that make money regardless of how the markets perform.
Areyoukiddinme
best 2 weeks ever
stay out of credit debt! save what you can, its gonna be a long haul. So go to school or get a second job til you can go full time...good luck
clean hairy
Well-Known Member
That you have been here only a coupla years, no one can say.
Going to be (I guess) 5 or more contracts, and who knows what might happen that far into the future?
Going to be (I guess) 5 or more contracts, and who knows what might happen that far into the future?
rod
Retired 22 years
Dusty Buckets
Member
Put your 401k into the s&p 500 account. Why? 1. lowest management fees. 2. S&P 500 accounts out perform 82% of "managed funds." Put 10% of your check away. Every year when you get a raise in August bump it up a percent until you've maxxed it out. You'll learn to live on less and you'll thank yourself when you finally punch out for the last time. No one ever said "Gee I wish I hadn't saved so much money for retirement." Go to www.firecalc.com and figure out how much you'll need to save to retire. Need $2000 a month? Sock away 625k and call it quits. Pay off your credit cards, cars, and home in that order. Never carry a balance on a card. Never take out a car loan. I made my last car payment in June 1991. I still make the payment, but it goes into my "car account." When I need some wheels, I have cash and can negotiate. Raise independent kids. At 18 they should be paying their own bills. And rent. And college. They have 40 years to pay off student loans you can only save for retirement once. And they won't help you with that so let them handle the college thing. Oh and have them move out. It'll build character.
I'm eligible to retire in 27 months 17 days. I can live comfortably on just my pension. My 401k will be fun money. Social Security, if I get it, will be more fun money. I'm not counting on it. My children are out of the house, and they know they can't come back. My house is paid off. I got a raise of $450 a week after Thanksgiving because I maxxed out my 401k contributions. I'll lose that January first but that's ok.
Spend some time at www.lenpenzo.com and www.mrmoneymustache.com for saving tips, frugal living, and ways to retire early.
I'm eligible to retire in 27 months 17 days. I can live comfortably on just my pension. My 401k will be fun money. Social Security, if I get it, will be more fun money. I'm not counting on it. My children are out of the house, and they know they can't come back. My house is paid off. I got a raise of $450 a week after Thanksgiving because I maxxed out my 401k contributions. I'll lose that January first but that's ok.
Spend some time at www.lenpenzo.com and www.mrmoneymustache.com for saving tips, frugal living, and ways to retire early.
Brownslave688
You want a toe? I can get you a toe.
Never too early to plan.
I know a few guys that planned right and were gone the day they hit 25 years.
