Interesting Article About Teamsters Pension For All The Haters

[UpstateNYUPSer(Ret)]

Really? I guess simple math and business principles are above your 90 IQ

He's right---you're full of .

 

[MAKAVELI]

Really?

Yes really.

 

[Oldfart]

A coworker turned me on to this calculator. Excellent way to plan your retirement income. https://www.edwardjones.com/index.html

 

[UpstateNYUPSer(Ret)]

I use Edward Jones and plan on rolling over my 401k when the time comes.

 

[Oldfart]

$3.5-4K/month from your 401k for 30 years?

4000 x 12 = 48000

48000 x 30 = 1.44M

Not happening.

Am I not gonna be getting 4 to 5% return on my 401K while I am pulling out? Use the calculator I posted and it will show you what your money will do with interest while you are drawing it out.

 

[Oldfart]

Then use this calculator. Kinda proves my point. Savings Withdrawal Calculator



All the miserables deal in lies and untruths. I prefer facts. Use those 2 calculators and they will show you what you can expect your money to do between now and when you retire. Then again after you retire.

 

[Brownslave688]

Am I not gonna be getting 4 to 5% return on my 401K while I am pulling out? Use the calculator I posted and it will show you what your money will do with interest while you are drawing it out.

3% is probably a better rule but yes you'll have growth.

 

[Brownslave688]

$3.5-4K/month from your 401k for 30 years?

4000 x 12 = 48000

48000 x 30 = 1.44M

Not happening.

Even at 1.5 million I'm curious why that's so crazy?

 

[MAKAVELI]

Even at 1.5 million I'm curious why that's so crazy?

It's so crazy because oldfart is pulling numbers out of his ass.

 

[Oldfart]

It's so crazy because oldfart is pulling numbers out of his ass.

Doesnt take over a million to have 3500 to 4000 a month income for 30 years with a decent rate of return when you retire. Just use the calculators and you will watch your money grow. Just hope we dont have another 2008 anytime soon. That is why I am slowly going conservative and when the time comes, will go low risk bonds. You can still get 3.5 to 4% on those and they are less risky than most options.

 

[MAKAVELI]

Doesnt take over a million to have 3500 to 4000 a month income for 30 years with a decent rate of return when you retire. Just use the calculators and you will watch your money grow. Just hope we dont have another 2008 anytime soon. That is why I am slowly going conservative and when the time comes, will go low risk bonds. You can still get 3.5 to 4% on those and they are less risky than most options.

Don't count $ you don't have. That's your first mistake.

 

[MrFedEx]

Don't count $ you don't have. That's your first mistake.

Hey, he has $130k, which he doesn't really have, so he's counting chickens before they hatch. Plus, he isn't using anything but himself as a financial advisor, which means an old Chevy van down by the river when he retires.

I think he's just about ready to blow a gasket. I guess I'd be angry too if I was that ignorant.

 

[MrFedEx]

It's so crazy because oldfart is pulling numbers out of his ass.

Tell him to be careful. Dano might fall out.

 

[MrFedEx]

Then use this calculator. Kinda proves my point. Savings Withdrawal Calculator



All the miserables deal in lies and untruths. I prefer facts. Use those 2 calculators and they will show you what you can expect your money to do between now and when you retire. Then again after you retire.

You need some anger management. Love you so much.

 

[MAKAVELI]

Tell him to be careful. Dano might fall out.

I think Dano is in way too deep to fall out.

 

[MrFedEx]

You're a wussy for wanting someone else to have control of your money and your retirement. Man up and take control.

I'll take my SS check. Plus, I'd fight for my retirement, unlike you. Roll over and take it like a wussy boy... that's you.

 

[dezguy]

Defined contribution plans put all the risk on the employee, which is why corporations love them. Throw a couple of bucks the employees way and if the economy tanks, they get to wipe their hands of it.

 

[Oldfart]

You need some anger management. Love you so much.

Facts to you is like sunlight to a vampire. You hate it.

 

[59 Dano]

So when they offered a pension to begin with they didn't have accountants and actuaries telling them then it wasn't feasible? Or did they just take advantage of the times, shedding the pension like other companies were doing to make themselves more profitable?

The idea was that you could pay lower wages in the present by deferring compensation for a couple of decades. It seemed like a good idea at the time, but history has shown us that it isn't a smart idea to continually saddle yourself with long-term obligations.

 

[Oldfart]

Hey, he has $130k, which he doesn't really have, so he's counting chickens before they hatch. Plus, he isn't using anything but himself as a financial advisor, which means an old Chevy van down by the river when he retires.

I think he's just about ready to blow a gasket. I guess I'd be angry too if I was that ignorant.

I use the wealth management firm of DEWEY CHEATEM AND HOW. Highly recommend them.