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Drop Out of Your 401k
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<blockquote data-quote="vantexan" data-source="post: 855722" data-attributes="member: 24302"><p>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.</p></blockquote><p></p>
[QUOTE="vantexan, post: 855722, member: 24302"] 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. [/QUOTE]
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