fatboy33
Well-Known Member
That's something you can do on your own. You don't need FDX to open a Roth IRA. And It's funded by post tax money. So, my understanding, once retired, you won't need to pay tax on the money in that account...
Express to offer Roth IRA in ‘23
- Thread starter Serf
- Start date
Obama care is for people who are destitute- Fedex was a 2nd career for me- retired at Fdx after 17 years at 63 1/2- did not qualify for the retiree plan- looked at the exchange for my wife and I and the same exact coverage that we had with United Health Care was going to cost us 2,050 a month-we made too much money with our early Social Security and investments- We stayed with the FDX plan under Cobra - paid 1,485 a month- Now we are saving money being on medicare.
People don't realize how expensive health Care is
fedx
Extra Large Package
So basically pay the same amount for health insurance that you would be paying on a $400,000 house mortgage payment. That's a good deal. And it's not even that good of health insurance to begin with with high deductibles and high co-pays. What a racket they have going.
So in other words your income was too high to qualify for any of the ACA/Obamacare reduced premiums. Understand Medicare pays insurers to manage Medicare plans and they pay them quite well. This is Medicare Advantage. A third party contractor managing Medicare. In fact the manager of my Medicare Advantage plan is a university owned healthcare system. I pay the standard Medicare premium plus an additional $38 a month for Medicare Advantage which has a few additional benefits that by and large is worth the $38. Don't want to even think about where we would be today if the Medicare bill had failed in Congress in 1965.
DriveInDriveOut
Inordinately Right
Healthcare would be much cheaper.
If only 83 that person is probably very low income, my daughter had to get policy ,too much to be on mine, had to pay 106 a month after the subsidy,full price was 450 month and she only made 13k ,pt while in school living at home. Those ads for zero per month are for the homeless .
also if you have prescriptions you need a policy that covers those particular drugs or drug ,if not you will pay out of your own pocket.
What stands out here is that for you FDX grunts is that if you're lucky enough to make it to retirement age and that's assuming that you don't die on the job, your body gives out or Fat Freddy finds a way to get rid of you and can legally get away with it, all you're going to have to live on is whatever you can manage to do on your own. Planning while important is only going to get you just so far in that direction. The rest is pure dumb luck.
When you're no longer able to go out there everyday and make money for that greedy dog's offspring you then become a so called "legacy cost". It's obvious that he's doing everything he can to free himself from those so called "legacy costs". Perhaps the reason why some if not the majority of those FDX box grunts are staying on so much longer than in the past is that they are trying to get caught up retirement savings wise now that they realize that contrary to their long standing belief they just don't mean a damn thing to Fat Freddy.
When you're no longer able to go out there everyday and make money for that greedy dog's offspring you then become a so called "legacy cost". It's obvious that he's doing everything he can to free himself from those so called "legacy costs". Perhaps the reason why some if not the majority of those FDX box grunts are staying on so much longer than in the past is that they are trying to get caught up retirement savings wise now that they realize that contrary to their long standing belief they just don't mean a damn thing to Fat Freddy.
Not sure what you mean. You mention conversion, which is is taking pre-tax money from your 401k, putting it into a Roth and then paying the tax on the converted amount. Then you mention pure Roth which i do not know what that is. Most people will probably not convert money from their 401k into a Roth and will just make weekly after-tax contributions to the Roth.
If you are over 50 and start your own Roth outside of FDX you can only put in $7500/yr. The FDX 401k Roth will let you put in something like $30k including the catch up. $22,500 contribution + $7500 catch up. The only other difference I can see between the 401k Roth and Roth would the that the 401k version is going to require distributions by age 72.
Everyone's retirement plan is different and what your income will be in retirement, but I have only seen taxes go up and not come down, so hedging your bets between taxable and untaxable income in your retirement years will be beneficial.
Serf
Well-Known Member
Specifically FedEx’s guidelines as to a stand alone Roth IRA. That’s what she saw discrepancies in. However, you’re right. Taxes never go down and the cost of things always goes up. Not to mention the government is screwy.
Serf
Well-Known Member
I converted the 401k. (Under 20k) Will pay taxes on it this year. And start planning an escape. Figure, with the conversion and the PPA I can walk away with about 30k total and start over before it’s too late.
AB831
Well-Known Member
Smart decision
yadig
Well-Known Member
Run Forrest run!!!!
fatboy33
Well-Known Member
Think of how many would have left this past year alone, had they never gotten rid of the traditional pension. Myself one.
AB831
Well-Known Member
Sucks for Fat Freddy
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