New Video! Is the buyout even worth it?

[UnionStrong]

I’ve been maxing my 401(k) out for quite a few few years. I think I could’ve done quite well personally with a company match of 6 to 8%. Having said that also having a pension is an amazing opportunity to have a stable income throughout retirement. Working class people have a difficult time, saving throughout their lives for all sorts of different reasons. A pension ensures they’re not destitute at retirement age and get to retire with dignity, which is what a union is supposed to help provide.

Thank you, Jimmy Hoffa

 

[Thebrownblob]

Thank you, Jimmy Hoffa

 

[IVE GOTTA PACKAGE 4U]

I’ve been maxing my 401(k) out for quite a few few years. I think I could’ve done quite well personally with a company match of 6 to 8%. Having said that also having a pension is an amazing opportunity to have a stable income throughout retirement. Working class people have a difficult time, saving throughout their lives for all sorts of different reasons. A pension ensures they’re not destitute at retirement age and get to retire with dignity, which is what a union is supposed to help provide.

With a 6-8% match the company would be paying a whole lot less than they are with what they pay into the pension.

We had a company pull out of our pension fund a few years ago

They pay 25% of your income into the 401k.
Now that's a good deal.

 

[AllTheBellsAndWhistles123]

I’ve been maxing my 401(k) out for quite a few few years. I think I could’ve done quite well personally with a company match of 6 to 8%. Having said that also having a pension is an amazing opportunity to have a stable income throughout retirement. Working class people have a difficult time, saving throughout their lives for all sorts of different reasons. A pension ensures they’re not destitute at retirement age and get to retire with dignity, which is what a union is supposed to help provide.

Google St. Clare’s Pension.

 

[Jones]

These 401k’s would be auto enrolled at a minimal (3%) contribution rate and would require spousal signature, if applicable, on any withdrawals so that there would be money left when they are ready to retire.

So real, existing pensions should be abolished and replaced with some type of fantasy 401k that only exists in your imagination?
The more you talk, the stupider you sound.

 

[Thebrownblob]

Google St. Clare’s Pension.

I don’t need to Google anything about pensions. I was on the frontlines for several years in central states, seen it. Like any investment tool there’s pitfalls and dangers. Pension seemed to be the most reliable and have the most rules.

 

[AllTheBellsAndWhistles123]

So real, existing pensions should be abolished and replaced with some type of fantasy 401k that only exists in your imagination?
The more you talk, the stupider you sound.

Nope. Existing pensions would remain while new employees would have 401k’s.

The rules for 401k’s are in the process of being amended to require a spousal
signature on withdrawals.

 

[AllTheBellsAndWhistles123]

I don’t need to Google anything about pensions. I was on the frontlines for several years in central states, seen it. Like any investment tool there’s pitfalls and dangers. Pension seemed to be the most reliable and have the most rules.

Did those folks wake up to a zero pension payment?

 

[Thebrownblob]

Did those folks wake up to a zero pension payment?

Central states? No, and they never were going to go to zero. Not how it works.

Or are talking about this one small group of Catholics? Sounds like they have a pretty good lawsuit and we’ll get some of their money back at some point. Some illlegal things sound like they took place. Really not a good example by you.

They wouldn’t have a 401(k)

 

[AllTheBellsAndWhistles123]

Central states? No, and they never were going to go to zero. Not how it works.

Or are talking about this one small group of Catholics? Sounds like they have a pretty good lawsuit and we’ll get some of their money back at some point. Some illlegal things sound like they took place. Really not a good example by you.

They wouldn’t have a 401(k)

Many have passed away in the interim.

Perhaps they should have had 401k’s.

 

[Thebrownblob]

Many have passed away in the interim.

Unfortunate, that kind of thing happens when illegal things are done.

 

[Thebrownblob]

Many have passed away in the interim.

Perhaps they should have had 401k’s.

Perhaps they should’ve had lots of other investments with your point?

My grandparents were huge IRA investors and annuity investors before there was a 401(k) available to them and did well with their pensions as well.

The only thing your thesis proves is that most people when tasked to save on their own don’t do very well. They might be well meaning, but life gets in the way.

 

[IVE GOTTA PACKAGE 4U]

Perhaps they should’ve had lots of other investments with your point?

My grandparents were huge IRA investors and annuity investors before there was a 401(k) available to them and did well with their pensions as well.

The only thing your thesis proves is that most people when tasked to save on their own don’t do very well. They might be well meaning, but life gets in the way.

Mist people don't grasp the concept of pay yourself first.

 

[Thebrownblob]

Mist people don't grasp the concept of pay yourself first.

All you have to do is go to Google and type in average 401(k) accounts amount by age

You will see the desperate shape a large portion of people are in

 

[AllTheBellsAndWhistles123]

Perhaps they should’ve had lots of other investments with your point?

My grandparents were huge IRA investors and annuity investors before there was a 401(k) available to them and did well with their pensions as well.

The only thing your thesis proves is that most people when tasked to save on their own don’t do very well. They might be well meaning, but life gets in the way.

…as does minimum wage…

 

[IVE GOTTA PACKAGE 4U]

All you have to do is go to Google and type in average 401(k) accounts amount by age

You will see the desperate shape a large portion of people are in

Absolutely

Sometimes I feel I should have a little bit more, until I see the average balance of other people.

 

[AllTheBellsAndWhistles123]

All you have to do is go to Google and type in average 401(k) accounts amount by age

You will see the desperate shape a large portion of people are in

I read where most people would be hard pressed to deal with a $1K emergency.

 

[Thebrownblob]

I read where most people would be hard pressed to deal with a $1K emergency.

Honestly, frightening. Yeah, I will deliver to peoples houses with disconnection notices stuck on their screen door and they’re getting daily Amazon deliveries watching their big screen TV and talking on their new iPhone and a brand new $70,000 car in the driveway..

 

[IVE GOTTA PACKAGE 4U]

Honestly, frightening. Yeah, I will deliver to peoples houses with disconnection notices stuck on their screen door and they’re getting daily Amazon deliveries watching their big screen TV and talking on their new iPhone and a brand new $70,000 car in the driveway..

Sounds like UPS drivers that cant afford to put money into a 401k...

 

[UnionStrong]

Honestly, frightening. Yeah, I will deliver to peoples houses with disconnection notices stuck on their screen door and they’re getting daily Amazon deliveries watching their big screen TV and talking on their new iPhone and a brand new $70,000 car in the driveway..

I just heard that missed car payments are the highest since 2009. Across all credit levels