Drop Out of Your 401k

I find it amusing that one who feels downtrodden will move to another country to find satisfaction in which it`s citizens will be downtrodden to him by comparison.
 

vantexan

Well-Known Member
I find it amusing that one who feels downtrodden will move to another country to find satisfaction in which it`s citizens will be downtrodden to him by comparison.
And I'll be spending my money in their economy. I won't live like a millionaire, just get by fine.
 

vantexan

Well-Known Member
van - Correct me if I'm wrong here on what you have claimed so far.1. You barely make enough money to scrape by. I take that as you're not putting money in savings.2. You pay to much into your health insurance.3. You stopped(?) contributing to your 401K.4. You have no/small pension to look forward to.My questions: What will you do for health insurance? You say you can live on $800/mo in SA, where will that $800/mo come from? I REALLY DO hope things go well for you and you have it all thought out extremely well. BTW, Vanguard has approximately $1.6 TRILLION in US mutual funds. Any stoppage of contributions will be negligible, to say the least.
For you and Brett, make it about me all you want, I'm pointing out the bad in our system, and it needs to change as it's forcing too many out of the middle class. These people aren't patriots, just greedy.I managed to earn a small pension as you know already LTF. I'll get by, and I'll self insure, easy to do outside of the U.S.. When the average person is working like a FedEx Ground driver you may look back and remember when people got company paid healthcare, a traditional pension, paid vacations and holidays, and a future.
 

klein

Für Meno :)
I find it amusing that one who feels downtrodden will move to another country to find satisfaction in which it`s citizens will be downtrodden to him by comparison.

Yeah, no difference then all those Europeans and Canadians spending 6 mths per year in the US.
They live like kings in the US compared to as at home.
Buy up property and everything else cheap.
 

vantexan

Well-Known Member
BTW, Vanguard has approximately $1.6 TRILLION in US mutual funds. Any stoppage of contributions will be negligible, to say the least.
Consider my plan again...put contributions at 0% AND move all your account funds from stock funds to bond funds, money market fund, even international stock funds. Hey, where'd all the money go? Obviously, this isn't going to happen. I was just trying to make a point. Really got y'alls hackles up because now we're talking about affecting YOUR money. Just consider this oh great investors. As more and more people go through their 401k money after losing their jobs, after fewer and fewer people are able to participate or participate minimally in 401k's as they aren't paid enough, YOUR 401k's will be affected. Might not be today or tomorrow, but it's coming. Another thing, my $17.64hr was worth $12.77 in 1998 when I was rehired according to the Dept of Labor's inflation calculator when I checked in March. In terms of purchasing power I'm not making as much as when I quit in '97 at $13.50. I hope you UPS guys have a COLA attached to your pension. We don't at FedEx. That's why I wanted to top out faster and get a full pension based on higher pay. Instead they terminated plan and held pay down. Inflation will affect us, a point LTFedExer doesn't seem to get as he has told me repeatedly that pensions don't matter and aren't necessary. Well LTF I'm sure the UPSers here would disagree with that. And why I'm angry. I freely acknowledge my mistakes, came back, worked hard, ridiculously hard in some situations, and had the rug pulled out from under by an upper management that wants to keep the lion's share of the money for themselves. And LTF, I'm single, don't have a wife's income coming in, and am trying to save as much as I can while meeting my obligations. Bottom line I'll be ok because I am willing to live where it's considerably cheaper. Whether I'll be able to stay there depends on Social Security, because my pension will get smaller every year due to inflation. So thanks FedEx, and God bless all those poor ignorant newhires who think they are getting on with a great company. They'll figure it out soon enough, except for the trusting souls like LTFedExer.
 

vantexan

Well-Known Member
No one is arguing your point. Everyone is arguing your gameplan.
All I'm doing is pointing out we, those of us who are not able to fund our 401k's decently, no longer have a traditional pension, generally are on the outside looking in, do have an option. Read the responses attacking the messenger, trying to marginalize the message by focusing on me. Touched a nerve or two as those who do have a stake in this game don't want anyone messing with it. I have no control over millions of investors, am not holding a gun to their head. Just pointing out if you are part of the exploited class you can be heard if you band together. Kind of like a union, huh?
 

bogeyball

Active Member
Supposed to set us up for retirement but for many of us we don't make enough to properly fund our 401k. Thus we don't receive much for our efforts and we are also in danger of having our funds greatly reduced in a crisis. But collectively our contributions are used to buy stock on the open market.

You have got to be kidding....let me guess; you put in about ....hmmm, 6% right now. You make a damn good wage for what you do, if you can't control your finances enough to put as much as possible into the 401K to secure your future retirement, well...I guess I will be "sharing in the sacrifice" (the new Liberal euphemism for wealth redistribution) and pay for your retirement as well.
I buy as much stock as I can and max out the 401K, unlike you....I want this company to thrive. And if that means the top end benefits, oh well.
So, as an owner of this co. may I recommend if you are not happy, you are free to go.
 

vantexan

Well-Known Member
Supposed to set us up for retirement but for many of us we don't make enough to properly fund our 401k. Thus we don't receive much for our efforts and we are also in danger of having our funds greatly reduced in a crisis. But collectively our contributions are used to buy stock on the open market.You have got to be kidding....let me guess; you put in about ....hmmm, 6% right now. You make a damn good wage for what you do, if you can't control your finances enough to put as much as possible into the 401K to secure your future retirement, well...I guess I will be "sharing in the sacrifice" (the new Liberal euphemism for wealth redistribution) and pay for your retirement as well.I buy as much stock as I can and max out the 401K, unlike you....I want this company to thrive. And if that means the top end benefits, oh well. So, as an owner of this co. may I recommend if you are not happy, you are free to go.
What's your hourly wage if I may ask?
 

vantexan

Well-Known Member
And you came to realize this when? For as long as there's been corporations, its been that way. There is no game plan, just ramblings of a disgruntled worker.
It's getting worse, hard fought gains are going by the wayside. When everyone is working like Ground drivers are, you know, no healthcare, no paid time off, no retirement, low pay, guess it'll be ok, as there will be more profits for the stockholders. Please tell the UPSers again what you've told me before...that we don't need pensions, you'll get along perfectly fine without one, just set aside enough in your 401k...
 
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brett636

Well-Known Member
It's getting worse, hard fought gains are going by the wayside. When everyone is working like Ground drivers are, you know, no healthcare, no paid time off, no retirement, low pay, guess it'll be ok, as there will be more profits for the stockholders. Please tell the UPSers again what you've told me before...that we don't need pensions, you'll get along perfectly fine without one, just set aside enough in your 401k...

I have a pension and am saving for retirement as though I don't. Maybe that is something you should consider too.
 

LTFedExer

Well-Known Member
vantexan said:
It's getting worse, hard fought gains are going by the wayside. When everyone is working like Ground drivers are, you know, no healthcare, no paid time off, no retirement, low pay, guess it'll be ok, as there will be more profits for the stockholders. Please tell the UPSers again what you've told me before...that we don't need pensions, you'll get along perfectly fine without one, just set aside enough in your 401k...
I never said that.
brett636 said:
I have a pension and am saving for retirement as though I don't. Maybe that is something you should consider too.
THAT'S what I said.
 

vantexan

Well-Known Member
I have a pension and am saving for retirement as though I don't. Maybe that is something you should consider too.
Yes, you have a very nice pension at UPS. And are paid enough to save for retirement like you don't have one. FedEx on the other hand not only pays considerably less and terminated our traditional pension, they made sure through lobbying efforts that FedEx is classified differently than UPS to make sure we can't vote in a union. Something your company has protested for some time now as it gives FedEx an unfair advantage. Point out my failings all you want, but the game is rigged over here, the economy is bad and my health isn't much better, so I'm stuck. The guy who tells me I make plenty for what I do, that he fully funds his 401k, won't say what he grosses. I'll make about $42k this year. I'll get by fine. I won't however be able to save enough to have much of a retirement. My point is that FedEx, and other companies, are putting us in this position so that a relative few can do extremely well. And as our raises aren't keeping up with inflation it's getting worse for us every year. Amazing how we not only have to do without many things but are expected to shut up, know our place, and like it.
 

vantexan

Well-Known Member
I never said that.THAT'S what I said.
Do you really want me to go find the posts where you went on and on about how pensions aren't necessary, that you have relatives that get along just fine without one, that what you save in your 401k will be more than enough? Say the word and I'll spend some time turning them up.
 
Yes, you have a very nice pension at UPS. And are paid enough to save for retirement like you don't have one. FedEx on the other hand not only pays considerably less and terminated our traditional pension, they made sure through lobbying efforts that FedEx is classified differently than UPS to make sure we can't vote in a union. Something your company has protested for some time now as it gives FedEx an unfair advantage. Point out my failings all you want, but the game is rigged over here, the economy is bad and my health isn't much better, so I'm stuck. The guy who tells me I make plenty for what I do, that he fully funds his 401k, won't say what he grosses. I'll make about $42k this year. I'll get by fine. I won't however be able to save enough to have much of a retirement. My point is that FedEx, and other companies, are putting us in this position so that a relative few can do extremely well. And as our raises aren't keeping up with inflation it's getting worse for us every year. Amazing how we not only have to do without many things but are expected to shut up, know our place, and like it.


Choice #1)https://upsjobs.managehr.com/

Choice #2) http://cgi.ebay.com/12-CRYING-NOVELTY-TOWEL-cry-whine-tear-rag-gift-tow-04-/250624592871
 

vantexan

Well-Known Member
I hope someone takes advantage of choice #1. Do you think they'll take a 49 yr old diabetic with heart trouble? Do you think they'll take on millions of people who through no fault of their own are being forced out of the middle class so some can do extremely well? See, I knew if I brought this up someone would step forward and solve all our problems! Hurray!!!
 
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