Investments, 401K, Etc (on topic)

Hey guys, I just hit top rate not too long ago and really need to start looking to save for retirement a little better than what I have been.

I was hoping to maybe start up a little dialogue between us drivers so we can help each other out.

Couple questions for myself:

Should I mainly just focus on maxing our my 401k every year?

is the stock option plans a good route to go down as well or should I just focus on 401k?

I plan to retire at 30 years no matter what.. my wife will be making more money than I will within the next 4 years or so, and as of now, I’ll do the early retirement in 21 years and jump on her benefits plan unless I find another job that pays benefits.

Maybe reading some of what you guys are doing or what you guys have done, will lead me in the right direction.

Thanks
 
Hey guys, I just hit top rate not too long ago and really need to start looking to save for retirement a little better than what I have been.

I was hoping to maybe start up a little dialogue between us drivers so we can help each other out.

Couple questions for myself:

Should I mainly just focus on maxing our my 401k every year or is the stock option plans a good route to go down as well?

I plan to retire at 30 years no matter what.. my wife will be making more money than I will within the next 4 years or so, and as of now, I’ll do the early retirement in 21 years and jump on her benefits plan unless I find another job that pays benefits.

Maybe reading some of what you guys are doing or what you guys have done, will lead my in the right direction.

Thanks
Build up an emergency fund first, then crank up the 401k, then if you still have some money, maybe buy a little bit of stock.
 

ManInBrown

Well-Known Member
Congrats at hitting top rate. Uncle Sam is very happy for you as well.

I put 15% in the 401K weekly and 50 bucks weekly in stock

I might pull the 50 and add it to the 401K

UPS isn’t really a stock where you’re ever going to make money. It hovers around the same price no matter what. Last couple buys were in the $99 to $105 range and now the stock is back up in the $120 range but it seems to have a ceiling.
 

upschuck

Well-Known Member
The only place I'd do ups stock is in a Roth IRA. The 5% discount you get is piddly if you plan on holding it for any length of time.
 
FearfulWanFlea-small.gif
 

brownmonster

Man of Great Wisdom
I can't imagine how much a driver maxing out a 401k would have in 30 years. UPS stock worked out ok for us old timers but I can't see much growth going forward. Dividends are nice.
 

ACmoses

Well-Known Member
Do not carry any credit card debt past the 25 day grace period and keep a 0 balance credit card as an emergency fund. Start a Roth IRA for you and your wife and max it out each year. Push come to shove you could use any of your contributions to the Roth as an emergency fund in the future. Having multiple emergency funds is really smart. Max out your 401k too. You will not regret it!
 

El Correcto

Well-Known Member
Hey guys, I just hit top rate not too long ago and really need to start looking to save for retirement a little better than what I have been.

I was hoping to maybe start up a little dialogue between us drivers so we can help each other out.

Couple questions for myself:

Should I mainly just focus on maxing our my 401k every year?

is the stock option plans a good route to go down as well or should I just focus on 401k?

I plan to retire at 30 years no matter what.. my wife will be making more money than I will within the next 4 years or so, and as of now, I’ll do the early retirement in 21 years and jump on her benefits plan unless I find another job that pays benefits.

Maybe reading some of what you guys are doing or what you guys have done, will lead me in the right direction.

Thanks
Nah, go get you a used Porsche with 20%apr and some $10,000 credit cards to start maxing out. You worth it now my guy, confidence has no budget.
 
Do not carry any credit card debt past the 25 day grace period and keep a 0 balance credit card as an emergency fund. Start a Roth IRA for you and your wife and max it out each year. Push come to shove you could use any of your contributions to the Roth as an emergency fund in the future. Having multiple emergency funds is really smart. Max out your 401k too. You will not regret it!

We do have some credit card debt as of right now but that is being paid off pretty quick. Thanks for the input. Definitely leaning towards 401k. I’ll have to do some more research on the Roth IRA
 

zubenelgenubi

Well-Known Member
If you have two incomes in the top rate driver range, absolutely max out any retirement accounts every year. I just bumped my 401k up to 5%, after a few months I may consider bumping it up some more, we'll see. I'm on one income, and focusing too much on retirement kind of gets in the way of living life, so I'm doing what I can. But I'm also planning to pay off my house asap and trying to put some aside for renovations, and for starting a business, and for the kids' college. Gets spread kinda thin after a while.
 
Top