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UPS Retirement Topics
New Driver questions 401k/pension
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<blockquote data-quote="mrvngrdns" data-source="post: 163402" data-attributes="member: 7204"><p>First, I commend you for paying attention to your future at such a young age. As for the advice to stop paying into your 401K, and instead contribute to an IRA, I say, "Do Both". You are capped at $4000 this year and $5000 next year for an IRA contribution. Do that, and put anything else you can afford into your 401K. And I also would purchase the stock if you can afford to. You can buy it at a discount, and although I agree that you shouldn't put too many eggs in one basket, I believe that it's OK for someone to trust in the company that they work for, and to own stock in that company. As for the pension, and Social Security, who knows if they'll be around in years, I personally believe that Social Security will be around in some shape or form, as for the pension, probably not. The key for a young investor is to invest what you can, diversify, and take advantage of your greatest asset.....time. You can be aggressive, and withstand the ups and downs of the stock market. Gradually become more conservative as you get older. As for the job at UPS, I firmly believe that any job is what you make of it. I drove a package car for 29 years, and retired last year. Of course I didn't enjoy every aspect of it, but all in all, I loved my job. I tried to grab on to the positive aspects of driving, being outside, meeting with customers and being a bright spot in their day, not having a boss look over my shoulder, good pay, etc. etc. Good luck to you.</p></blockquote><p></p>
[QUOTE="mrvngrdns, post: 163402, member: 7204"] First, I commend you for paying attention to your future at such a young age. As for the advice to stop paying into your 401K, and instead contribute to an IRA, I say, "Do Both". You are capped at $4000 this year and $5000 next year for an IRA contribution. Do that, and put anything else you can afford into your 401K. And I also would purchase the stock if you can afford to. You can buy it at a discount, and although I agree that you shouldn't put too many eggs in one basket, I believe that it's OK for someone to trust in the company that they work for, and to own stock in that company. As for the pension, and Social Security, who knows if they'll be around in years, I personally believe that Social Security will be around in some shape or form, as for the pension, probably not. The key for a young investor is to invest what you can, diversify, and take advantage of your greatest asset.....time. You can be aggressive, and withstand the ups and downs of the stock market. Gradually become more conservative as you get older. As for the job at UPS, I firmly believe that any job is what you make of it. I drove a package car for 29 years, and retired last year. Of course I didn't enjoy every aspect of it, but all in all, I loved my job. I tried to grab on to the positive aspects of driving, being outside, meeting with customers and being a bright spot in their day, not having a boss look over my shoulder, good pay, etc. etc. Good luck to you. [/QUOTE]
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