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UPS Retirement Topics
New Driver questions 401k/pension
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<blockquote data-quote="LeddySS98" data-source="post: 161929" data-attributes="member: 8574"><p>No real background in finance technically... my business degree was focused into the accounting direction. I'm VERY interested in finance and markets/stocks how it all works, but all I really have is simple self discipline and then a couple of those finance for dumbies books that tell you if you put X amount in an account at 24% you will be a millionare in 8 years... Of course finding these 24% stocks/bonds<img src="/community/styles/default/xenforo/smilies/group1/w00t.gif" class="smilie" loading="lazy" alt=":w00t:" title="W00t :w00t:" data-shortname=":w00t:" /> </p><p> </p><p>I pulled up my W-2 and my wages tips other were 20,701</p><p>but the social and the medicare taxes were not effected by the 401 deduction they were both taxed at the 26,888 I made for the year.</p><p> </p><p>So the 401 saves you on the federal but not the medicare and soc.</p><p> </p><p>As far as 'picking' the good mutuals to have them go in I have made 400 in intest which put me right arround 6% so I did 'ok' I think...I was planning on just sticking with my same picks unless I get a lot of advice to change them.... Any thoughts?</p></blockquote><p></p>
[QUOTE="LeddySS98, post: 161929, member: 8574"] No real background in finance technically... my business degree was focused into the accounting direction. I'm VERY interested in finance and markets/stocks how it all works, but all I really have is simple self discipline and then a couple of those finance for dumbies books that tell you if you put X amount in an account at 24% you will be a millionare in 8 years... Of course finding these 24% stocks/bonds:w00t: I pulled up my W-2 and my wages tips other were 20,701 but the social and the medicare taxes were not effected by the 401 deduction they were both taxed at the 26,888 I made for the year. So the 401 saves you on the federal but not the medicare and soc. As far as 'picking' the good mutuals to have them go in I have made 400 in intest which put me right arround 6% so I did 'ok' I think...I was planning on just sticking with my same picks unless I get a lot of advice to change them.... Any thoughts? [/QUOTE]
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