UpstateNYUPSer(Ret)
Well-Known Member
You want current employees to subsidize your inability to financially plan for your retirement?
Retiree Healthcare Costs under Tentative Agreement
- Thread starter InsideUPS
- Start date
but what gets me is the items arent that far off in price difference.
Xexys
Retired and Happy
Wow, who took your Cheerios? The whole idea of what is being written is to hold on to the belief that current employees will do the same that we did for the retirees when we worked. Nobody said anything when we retired that we would have to pay up to 1/10th of our pension for healthcare. Right now I pay 1/74th of my pension for my healthcare. How can anyone prepare for that? Walk into any Wal-Mart and look around at all the old-timers that put there years in some other job only to be working now at the ripe old age of 70-something. Same thing at Home Depot. You better hope that the stock market doesn't dip like it did before, twice! You'll be whining and whining and whining...
The Milkman
Well-Known Member
Well Said!! We all work together for years with others. Little by little we see many retire over the years and we then move up the ladder and then become senior drivers after many years. We hope and think that others coming up behind us would become as we did a brotherhood that looked out for their own. I really think with the influx of more and more part timers our Brotherhood was weaked to the situation we have now. They never really fought for themselves like we did as full timers. Everyone will someday like me and you be retired and lookback at the once powerfull Union that had alot of tough memebers and remember when Mario walked into our bldg and mngt scattered like cockroaches when in the light when UPS tried jamming the 70lb weight limit down our throats, And we stood proud by Mario as we assembled in a circle, a cirlce of honor, a circle of strength and had our work stoppage while UPS was dumb founded by what they saw..Priceless Moment, sadly they are history those type moments by a giveback Spineless Union now in place. We are now at their mercy and sad to say it does not look good my friend.
UpstateNYUPSer(Ret)
Well-Known Member
I set aside 25% of my paycheck each week in my 401k. I deposit my tax refunds directly in to my Roth IRA. My combined balances are about $100K and, with 6 years to go, I expect to triple that. I will be debt free when I retire. I plan on living off of my pension ($5K/month) and start taking SS and withdrawals from my 401k when I legally have to. (70 and 70 1/2, respectively).
Why did I post that? I don't want to be a burden on anyone (my kids, the government or my former co-workers) when I retire.
I have not interest in paying additional funds to support those who couldn't be bothered to financially prepare for retirement.
Why did I post that? I don't want to be a burden on anyone (my kids, the government or my former co-workers) when I retire.
I have not interest in paying additional funds to support those who couldn't be bothered to financially prepare for retirement.
Xexys
Retired and Happy
You better watch the stock market and spread out your monies. I haven't touched my 401k or my IRA"s and I have more than you. If you expect to triple your money you must be an inside trader. I thought the same way when the market was booming in the 90's. I'm here to tell you that your dreams of tripling your money will be unfounded. Your original statement says it all about the demise of our once strong union. Nobody cares about the other man any more. You are out for yourself and only you. Sounds to me like you never understood the word "Brotherhood".
Xexys
Retired and Happy
Well Said!! We all work together for years with others. Little by little we see many retire over the years and we then move up the ladder and then become senior drivers after many years. We hope and think that others coming up behind us would become as we did a brotherhood that looked out for their own. I really think with the influx of more and more part timers our Brotherhood was weaked to the situation we have now. They never really fought for themselves like we did as full timers. Everyone will someday like me and you be retired and lookback at the once powerfull Union that had alot of tough memebers and remember when Mario walked into our bldg and mngt scattered like cockroaches when in the light when UPS tried jamming the 70lb weight limit down our throats, And we stood proud by Mario as we assembled in a circle, a cirlce of honor, a circle of strength and had our work stoppage while UPS was dumb founded by what they saw..Priceless Moment, sadly they are history those type moments by a giveback Spineless Union now in place. We are now at their mercy and sad to say it does not look good my friend.
Ah yes, Mario Perucci, what a man! I'll bet 80% of the people on this site don't know or never have heard of a Local going out on a "Wildcat Strike". This is how the Master Agreement got its language for the 150 lb weight limit. Our local 177 wasn't going to put up with the over 70 lb weight so we went on strike, a Wildcat Walkout as it's termed. It lasted ONE day! That's all it took for the Company to realize they couldn't jam crap down our throats. Now that's solidarity for you!
The Milkman
Well-Known Member
The Milkman
Well-Known Member
Well it is nice to hear that you were able to do that. Unfortunatley many of us could not do that, Not an excuse but with some guys dealing with expensive divorces , child support and myself with a handicapped son and starting at age 30 at UPS , some of us barely got by. I know many guys who all they did was bank their money, live at home for as long as they could, led a dull boring life for the sake of saving. Well good for them. When I started everything was laid out before me ..Wages, pension, medical..So upon starting UPS like many of us we were looking down the road to having a pension to help support us in our older yrs, by not having the so call advantage of the savers ,we have to do the best we can with what we have. I got into the 401 k and yes I saved some, but because of many reasons I could not put the max in yr after yr like others, so before judging others who in your eyes did not do exactly like you did and who was in a position to do so, walk in our shoes before casting judgement.
Medakee
New Member
Well it is nice to hear that you were able to do that. Unfortunatley many of us could not do that, Not an excuse but with some guys dealing with expensive divorces , child support and myself with a handicapped son and starting at age 30 at UPS , some of us barely got by. I know many guys who all they did was bank their money, live at home for as long as they could, led a dull boring life for the sake of saving. Well good for them. When I started everything was laid out before me ..Wages, pension, medical..So upon starting UPS like many of us we were looking down the road to having a pension to help support us in our older yrs, by not having the so call advantage of the savers ,we have to do the best we can with what we have. I got into the 401 k and yes I saved some, but because of many reasons I could not put the max in yr after yr like others, so before judging others who in your eyes did not do exactly like you did and who was in a position to do so, walk in our shoes before casting judgement.
BRAVO
Catatonic
Nine Lives
While not expressed with sensitivity Upstate, I do agree with you in principle.
I worked 3 1/2 extra years past 55 (40 years with UPS) to reduce retirement funding risk and there are a lot of variables out there that could blow my plans away.
I believe the greatest risks are in UPS/Teamster pensions, followed by Soc Sec, followed by 401k, followed by savings/investment outside 401k.
I personally do not believe in "not working" prior to age 70 (this is for myself, I don't care what others think and do) so I got flexible jobs after "retiring" from UPS.
The following should be of concern to someone retiring in their late 50s on until their late 60's.
Inflation not "calculated" in COLA will eventually eat away the buying power of any pension.
Medical costs at age 65 and older will have to be shouldered in some way by the individual.
Longer life expectancy is pushing most traditional retirement plans to their limits.
Xexys
Retired and Happy
Well it is nice to hear that you were able to do that. Unfortunatley many of us could not do that, Not an excuse but with some guys dealing with expensive divorces , child support and myself with a handicapped son and starting at age 30 at UPS , some of us barely got by. I know many guys who all they did was bank their money, live at home for as long as they could, led a dull boring life for the sake of saving. Well good for them. When I started everything was laid out before me ..Wages, pension, medical..So upon starting UPS like many of us we were looking down the road to having a pension to help support us in our older yrs, by not having the so call advantage of the savers ,we have to do the best we can with what we have. I got into the 401 k and yes I saved some, but because of many reasons I could not put the max in yr after yr like others, so before judging others who in your eyes did not do exactly like you did and who was in a position to do so, walk in our shoes before casting judgement.
His wife probably makes more money than him so he can do all that. Not only that, the 401k didn't even start until the late 80's putting us old timers at somewhat of a disadvantage. Milkman is right. I've divorced after 21 years of marriage and remarried a woman a little younger than myself who still has young kids. Love them like my own and since I can, I put them on my insurance. Hope you UPSTATE don't have anything go wrong in your life that eats up your nest egg. Never say never...
UpstateNYUPSer(Ret)
Well-Known Member
I am divorced and she will be getting 16% of my pension when I retire. 5 years ago I had $48K in credit card and other personal debt----thanks to Dave Ramsey the only debt that I have is my mortgage, which will be paid off two months before I retire (accelerated repayment plan in place). Helped put two kids through college.
The choice is a simple one-----I choose to be financially responsible so that I may be able to enjoy my retirement.
Xexys
Retired and Happy
As do I. Look at my avatar.
The Milkman
Well-Known Member
You are right, my choice was simple. Like you I hung it up at 55, moved out here (Funny that you did to!) bought an RV, on trip right now as I type. Been to Alaska twice, all over the West, Love it! Like the other posters I never really had a pot to piss in. I could not be consumed about saving, saving, saving, when in fact all the saving will do you no good if you drop dead or get cancer. Now I am 61 and have almost 6 yrs of enjoyment. Why should I have stayed at UPS any longer than I had too? Take all their crap, for what? More $$$. You can't buy time and all the $$$ in the world will not save your tail when you are lying in your deathbed saying to yourself "Gee I should of retired sooner, now I am done. Can't do things I was planning on doing" Plans change as we all know. So far I have been blessed with decent health, a few bucks to blow while I am somewhat healthy. Would of hated to SAVE SAVE SAVE only to be an old buzard hobbling along trying to enjoy life, while looking back saying to myself, Why did I wait so long? You like me are taking advantage of our time and from what I can see, you and I (neighbors) are not starving and out on street corners looking for handouts.
pretender
Well-Known Member
I remember in 2006, my (former) financial advisor projected a "conservative" 8% return on my investments--I would be able to retire and pull out 5% per year, and my accounts would still grow in value. Then 2008 happened...
pretender
Well-Known Member
I don't agree with everything Dave Ramsey says, but you would not go wrong by following his advice. I am of the opinion that IF you are disciplined, a 30 year mortgage is preferable to a 15. You should still make payments based on a 15 year amortization, but that would give you the option of dropping down to the lower payment, should the unexpected event occur.
His best tip is to never buy or lease/finance a new car. I hate to think of all the money I wasted in my younger years. Ironically, if a person is used to making a car payment, the inclination is to get a new car every 3-5 years. Our last two vehicles were purchased used, with cash. My car is now 13 years old and my wife's car is six years old, and I am in no hurry to replace mine.
UpstateNYUPSer(Ret)
Well-Known Member
It's funny you mention this as this was a question on the Suze Orman show. Her advice was to take the 15 over the 30.
I also don't agree with everything Dave Ramsey says but do agree that his principles are sound.
pretender
Well-Known Member
I can definitely see the logic in the 15 over the 30...
Another piece of advice that I do not follow is regarding credit cards; but he is absolutely right. I always pay my Visa in full every month--no exceptions. However, it is still easier to spend money when you put it on the card. My wife and I both have separate weekly cash allowances, and I have a much harder time spending that money...
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