Discussion in 'UPS Discussions' started by Vendor, Mar 8, 2019.

  1. Vendor

    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!!
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  2. You can take money out of your 401k if you are 55 or older and retired.
  3. PT Car Washer

    PT Car Washer Well-Known Member

    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.
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  4. BigUnionGuy

    BigUnionGuy Got the T-Shirt

    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
  5. UnconTROLLed

    UnconTROLLed perfection

    Only $400,000 maxed out??!
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  6. Wally

    Wally BrownCafe Innovator & King of Puns

    On the flip side, you could make that last stop at any moment, so blow that cash now!
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  7. oldngray

    oldngray nowhere special

    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.
  8. oldngray

    oldngray nowhere special

    hookers and blow

    just ask @rod
  9. $6 was the max
  10. I bought stock with mine. The government said OPL stick was illegal
  11. PT Car Washer

    PT Car Washer Well-Known Member

    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.
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  12. oldngray

    oldngray nowhere special

    OPL was illegal but that was different from the thrift plan. Or so I thought.
  13. oldngray

    oldngray nowhere special

    That was the only way to get stock at the IPO mostly management only price.
  14. That's where some of the money was being invested. And after the fact I'm the IRS said it wasn't illegal
  15. What'dyabringmetoday???

    What'dyabringmetoday??? Well-Known Member

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

    brownmonster Man of Great Wisdom

    It went away when non-management employees were allowed to buy stock around 1996. IPO was in 1999.
  17. BigUnionGuy

    BigUnionGuy Got the T-Shirt

    I can't remember all the details.

    Don't remember that. Enlighten me.
  18. Indecisi0n

    Indecisi0n Well-Known Member

    Never know when it's your time so I agree . Blow them hookers !
  19. scratch

    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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  20. MECH-lift

    MECH-lift Union Brother

    this is 2019 my man

    being able to retire: %10 chance

    suffering a work related career ending injury: %90 chance