Investments, 401K, Etc (on topic)

Discussion in 'UPS Discussions' started by GrabMyPackage, Sep 24, 2018.

  1. GrabMyPackage

    GrabMyPackage New 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.

  2. 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.
  3. ManInBrown

    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.
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  4. Wally

    Wally BrownCafe Innovator & King of Puns

    Seriously, you need to talk to E.F. Kog. Best darn financial expert out there!
  5. upschuck

    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.
  6. DriveInDriveOut

    DriveInDriveOut Proud Deplorable

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  8. brownmonster

    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.
  9. GrabMyPackage

    GrabMyPackage New Member

    Emergency fund is a smart idea. I have a little strike fund going just in case.
  10. Something always comes up that you need a little extra cash
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  11. ACmoses

    ACmoses 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!
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  12. Wrong

    Wrong :))

    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.
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  13. silenze

    silenze Lunch is the best part of the day

    Max out 401k. No ups stock.
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  14. GrabMyPackage

    GrabMyPackage New Member

    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
  15. Faceplanted

    Faceplanted Well-Known Member

    All in on amb cryptocurrency. Take out a loan if you can and buy ASAP.
  16. zubenelgenubi

    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.
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  17. Faceplanted

    Faceplanted Well-Known Member

    Enjoy wage cucking till your 55 guys. Sounds like a great life plan.
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  18. zubenelgenubi

    zubenelgenubi Well-Known Member

    I'm out at 54, no later, hopefully sooner.
  19. Jackburton

    Jackburton Gone Fish'n

    If you’re gunna troll, at least troll on days where BTC.X isn’t puking.
  20. Poop Head

    Poop Head Lovin' every minute of it!

    Fill your yard with boats