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<blockquote data-quote="vantexan" data-source="post: 4589417" data-attributes="member: 24302"><p>If they were a brand new courier in 2003 they got a contribution of 3% in their portable after the end of the fiscal year. If they grossed $30k that's only $900. Quarterly one percent? 9 whole dollars! By 2008 they might have $5k depending on OT. Maybe $6k at most. Now this person is lurching towards retirement which I'll assume happened this year. As Floridays pointed out at most 17 years, more likely 16, even less. As the percentage contributed by FedEx is determined by your age plus years of service they spent most of that time in in 3% and 5% categories. As a new courier on starting pay and getting minimal raises of 2% during that period you can talk all you want about sacrifice but if you're paying rent, utilities, gas, insurance, car note, buying clothes, incidentals, groceries, even if you aren't supporting kids there's no way you can contribute enough in that time span to your 401k to support yourself along with that minimal portable plan in a manner that you describe as well, or fine, or whatever. The 401k money will run out, and there wasn't enough accrued on the portable to supplement SS to be able to run a household. In this country most need a car. That, your utilities, mortgage if you still have it. Even if you don't you'll still have to pay property taxes which is hard to do on that kind of money. You were reaming me for living on $22k a year, saying you wouldn't want to live next to someone with that lifestyle. Exactly how much does your friend with just a 401k and portable have along with SS, trying to keep up all of the above? That frugal lifestyle you described to save money would have to carry over into retirement. Who wants to live like that for decades coming into retirement then living like that after retirement? You sure don't. Remember, you're going to spend at least $22k on weed. I could look at the traditional and know it wasn't going to be enough in the States but would be excellent money in a number of countries worth living in. And at the rate FedEx was giving raises knew it was my only real option to a better life. As soon as the virus goes away I'm heading to a better life. In the meantime just getting by here.</p></blockquote><p></p>
[QUOTE="vantexan, post: 4589417, member: 24302"] If they were a brand new courier in 2003 they got a contribution of 3% in their portable after the end of the fiscal year. If they grossed $30k that's only $900. Quarterly one percent? 9 whole dollars! By 2008 they might have $5k depending on OT. Maybe $6k at most. Now this person is lurching towards retirement which I'll assume happened this year. As Floridays pointed out at most 17 years, more likely 16, even less. As the percentage contributed by FedEx is determined by your age plus years of service they spent most of that time in in 3% and 5% categories. As a new courier on starting pay and getting minimal raises of 2% during that period you can talk all you want about sacrifice but if you're paying rent, utilities, gas, insurance, car note, buying clothes, incidentals, groceries, even if you aren't supporting kids there's no way you can contribute enough in that time span to your 401k to support yourself along with that minimal portable plan in a manner that you describe as well, or fine, or whatever. The 401k money will run out, and there wasn't enough accrued on the portable to supplement SS to be able to run a household. In this country most need a car. That, your utilities, mortgage if you still have it. Even if you don't you'll still have to pay property taxes which is hard to do on that kind of money. You were reaming me for living on $22k a year, saying you wouldn't want to live next to someone with that lifestyle. Exactly how much does your friend with just a 401k and portable have along with SS, trying to keep up all of the above? That frugal lifestyle you described to save money would have to carry over into retirement. Who wants to live like that for decades coming into retirement then living like that after retirement? You sure don't. Remember, you're going to spend at least $22k on weed. I could look at the traditional and know it wasn't going to be enough in the States but would be excellent money in a number of countries worth living in. And at the rate FedEx was giving raises knew it was my only real option to a better life. As soon as the virus goes away I'm heading to a better life. In the meantime just getting by here. [/QUOTE]
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