Retired!

Vendor

New Member
I'm see what everybody writes and I'm so glad that when I started back in1986 that I started saving my money. I started at the age of 24 and retired at 54. I started making $10.90 an hour and top pay was $14.90. We only could put in like $7.00 in ups savings. I know that ups has changed but you still can make a lot of money working there! I tell every young driver to Max out the 401k, one of the best things I did and I still can't get to it until I'm 59. I am 57 now and I don't need $400,000 that's in there right now. My wife and I travel anywhere we want to go. People listen, save your money!!
 
I'm see what everybody writes and I'm so glad that when I started back in1986 that I started saving my money. I started at the age of 24 and retired at 54. I started making $10.90 an hour and top pay was $14.90. We only could put in like $7.00 in ups savings. I know that ups has changed but you still can make a lot of money working there! I tell every young driver to Max out the 401k, one of the best things I did and I still can't get to it until I'm 59. I am 57 now and I don't need $400,000 that's in there right now. My wife and I travel anywhere we want to go. People listen, save your money!!
You can take money out of your 401k if you are 55 or older and retired.
 

PT Car Washer

Well-Known Member
I'm see what everybody writes and I'm so glad that when I started back in1986 that I started saving my money. I started at the age of 24 and retired at 54. I started making $10.90 an hour and top pay was $14.90. We only could put in like $7.00 in ups savings. I know that ups has changed but you still can make a lot of money working there! I tell every young driver to Max out the 401k, one of the best things I did and I still can't get to it until I'm 59. I am 57 now and I don't need $400,000 that's in there right now. My wife and I travel anywhere we want to go. People listen, save your money!!
I believe you are referring to the UPS Thrift Plan and I remember the limit being $6/wk. Payed over 20% most years when UPS was a private company. I agree to forgo that trophy home and fancy pick up for financial security.
 

BigUnionGuy

Got the T-Shirt
I believe you are referring to the UPS Thrift Plan and I remember the limit being $6/wk. Payed over 20% most years when UPS was a private company. I agree to forgo that trophy home and fancy pick up for financial security.


If I remember correctly....

It was like $5 $6 or $7 (you had a choice) and it was like 22% interest, until the

government shut them down. I can't remember why.


And congratulations @Vendor
 

Wally

BrownCafe Innovator & King of Puns
I'm see what everybody writes and I'm so glad that when I started back in1986 that I started saving my money. I started at the age of 24 and retired at 54. I started making $10.90 an hour and top pay was $14.90. We only could put in like $7.00 in ups savings. I know that ups has changed but you still can make a lot of money working there! I tell every young driver to Max out the 401k, one of the best things I did and I still can't get to it until I'm 59. I am 57 now and I don't need $400,000 that's in there right now. My wife and I travel anywhere we want to go. People listen, save your money!!
On the flip side, you could make that last stop at any moment, so blow that cash now!
 

oldngray

nowhere special
If I remember correctly....

It was like $5 $6 or $7 (you had a choice) and it was like 22% interest, until the

government shut them down. I can't remember why.


And congratulations @Vendor
Did the government shut down the thrift plan or was that all on UPS? I remember it going away when UPS stock went public and people had the option to buy stock with thrift plan money.
 

PT Car Washer

Well-Known Member
Did the government shut down the thrift plan or was that all on UPS? I remember it going away when UPS stock went public and people had the option to buy stock with thrift plan money.
I remember UPS telling all of the hourlies we had to roll our Thrift Plan money into an IRA so management could buy up all of the stock before the IPA. I let my money ride and it more then doubled after the IPA. Later rolled it into an IRA.
 

oldngray

nowhere special
I remember UPS telling all of the hourlies we had to roll our Thrift Plan money into an IRA so management could buy up all of the stock before the IPA. I let my money ride and it more then doubled after the IPA. Later rolled it into an IRA.
That was the only way to get stock at the IPO mostly management only price.
 

brownmonster

Man of Great Wisdom
Did the government shut down the thrift plan or was that all on UPS? I remember it going away when UPS stock went public and people had the option to buy stock with thrift plan money.
It went away when non-management employees were allowed to buy stock around 1996. IPO was in 1999.
 

BigUnionGuy

Got the T-Shirt
Did the government shut down the thrift plan or was that all on UPS? I remember it going away when UPS stock went public and people had the option to buy stock with thrift plan money.

I remember UPS telling all of the hourlies we had to roll our Thrift Plan money into an IRA so management could buy up all of the stock before the IPA. I let my money ride and it more then doubled after the IPA. Later rolled it into an IRA.


I can't remember all the details.


Didn't it involve how they handled C.O.D. monies? I believe it did. But what would I know? Lol.


Don't remember that. Enlighten me.
 

scratch

Least Best Moderator
Staff member
OPL was set up in Bermuda and used as insurance to pay for damaged packages is the way I remember it. When the Thrift Plan was done away with, I bought some UPS Stock at $25 a share and it doubled when it went public. I put that in an IRA and bought some mutual funds at that time.
 
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