PRU 401K Deduction?...

[Matty_lawn]

i got a lot in my plan, if your driving your not going to notice 20 bucks gone out of an 800 dollar check

More goes into my 401k and taxes than take home. Feels ok, man

 

[IVE GOTTA PACKAGE 4U]

i also drink v8

Good stuff. A little too much salt but good

 

[Jkloc420]

More goes into my 401k and taxes than take home. Feels ok, man

ive been doing it for 15 years and got a chuck in there

 

[Matty_lawn]

ive been doing it for 15 years and got a chuck in there

Have you been at UPS that long? For some reason I thought you were around my age

 

[Brownslave688]

I opted out first time I saw it deducted. They shouldn't be allowed to automatically enroll people without their knowledge.

Like they shouldn't automatically make one join the union?

 

[IVE GOTTA PACKAGE 4U]

Like they shouldn't automatically make one join the union?

Good point

 

[Brownslave688]

I strongly to encourage you to put something in the 401k. Even if it's only 1%. Will $15 bucks a week kill your budget?

I encourage him to hire a financial advisor.


Mortgage debt is usually considered good debt. It helps reduce ones tax burden.

Also one can throw all of the money they want into their 401k at 50+. It won't make up for the lost years of their youth.

 

[IVE GOTTA PACKAGE 4U]

I encourage him to hire a financial advisor.


Mortgage debt is usually considered good debt. It helps reduce ones tax burden.

Also one can throw all of the money they want into their 401k at 50+. It won't make up for the lost years of their youth.

That's my point. You can't make up the power of compounding


Just asking him to get started

 

[UpstateNYUPSer(Ret)]

I opted out first time I saw it deducted. They shouldn't be allowed to automatically enroll people without their knowledge.

I believe it is spelled out during orientation.

 

[Brownslave688]

That's my point. You can't make up the power of compounding


Just asking him to get started

And it's a tax write off. If you do traditional.

Anything 5% or under will barely be noticed.

 

[UpstateNYUPSer(Ret)]

I encourage him to hire a financial advisor.


Mortgage debt is usually considered good debt. It helps reduce ones tax burden.

Also one can throw all of the money they want into their 401k at 50+. It won't make up for the lost years of their youth.

There would be no need for a PTer to hire a financial adviser at this point in their career.

 

[IVE GOTTA PACKAGE 4U]

And it's a tax write off. If you do traditional.

Anything 5% or under will barely be noticed.

It's still something. Everyone has a different situation. And I tip my hat to him for trying to help debt free. Sometimes you have to look at the big picture

 

[UpstateNYUPSer(Ret)]

No.
3.5 more years and I'll have paid off my 30 year mortgage in under 5 years, then I'll re-evaluate my retirement strategy. I've got a Roth started but I'm not actively investing in it, I don't have a lot of faith in Wall Street at this point. Being debt free might make me a little braver when it comes to investing.

You will have paid off a 30 year note in less than 5 years?? I thought I was doing good when I will have my $85K 15 year note paid off in just over 7 years.

 

[Brownslave688]

There would be no need for a PTer to hire a financial adviser at this point in their career.

Hiring a financial advisor is never a bad idea.

 

[Brownslave688]

It's still something. Everyone has a different situation. And I tip my hat to him for trying to help debt free. Sometimes you have to look at the big picture

I know lots of people hate debt but debt isn't always bad. It's how that debt is leveraged is what's important.

 

[IVE GOTTA PACKAGE 4U]

Hiring a financial advisor is never a bad idea.

Especially if you don't know what's going on. Not taking a dig at anyone. Just some of this financial crap can be very confusing.

 

[UpstateNYUPSer(Ret)]

More goes into my 401k and taxes than take home. Feels ok, man

Having a side business lets you do that.

 

[UpstateNYUPSer(Ret)]

Hiring a financial advisor is never a bad idea.

When the time comes.....absolutely.

 

[Brownslave688]

You will have paid off a 30 year note in less than 5 years?? I thought I was doing good when I will have my $85K 15 year note paid off in just over 7 years.

That's why the wife and I bought the house we bought. Will pay it off in 5 years and only pay like $100 more per month than we are for rent now.

 

[Matty_lawn]

Having a side business lets you do that.

Again, UPS is my side business. U mad?