Roth 401k

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Anon1

Guest
Went out to the 401k site and couldn't believe it. A Roth 401k is an option starting July 30th. It will also count towards your match. If you change/add to your election, remember you have to choose the funds separately from your regular 401k. I suppose you could choose the same funds, but it is clearly set up that you have to choose for both the regular 401k and the Roth 401k. Way to go UPS!
 

raceanoncr

Well-Known Member
You sure you ain't talkin bout UPSFreight? Cuz I know they offer a match. Package does not, at least not yet, unless I missed something too.
 

Fnix

Well-Known Member
If I put $20 per paycheck into my 401k as an hourly I am getting $40 back right? If not how much?
 

raceanoncr

Well-Known Member
If I put $20 per paycheck into my 401k as an hourly I am getting $40 back right? If not how much?


You put $20 in 401k as an hourly and you get whatever interest or growth your particular fund of choice returns. You don't get no match from UPS.
 

Fnix

Well-Known Member
You put $20 in 401k as an hourly and you get whatever interest or growth your particular fund of choice returns. You don't get no match from UPS.

I thought I was matched dollar for dollar. I have deducted $620 into my 401k. I was hoping it was $1200. I guess I should just cancel it then?
 
W

westsideworma

Guest
My understanding was that they matched 100% upto 3% of your contribution.

that is for management employees only. The teamster 401k offers no match. I believe UPS freight gets a match for their 401k but I don't know the specifics.
 

Fnix

Well-Known Member
so out of curiosity using a conservative path $20 per paycheck how much am I getting back on that if any? Using S&P 500

I know its hard to tell but is it in the dollars or cents range?
 

satellitedriver

Moderator
so out of curiosity using a conservative path $20 per paycheck how much am I getting back on that if any? Using S&P 500

I know its hard to tell but is it in the dollars or cents range?
The long term average on the S&P (20 years) is about 11% per annum. Some years 4%, some years 20%.
401k money is for long term investing not short term gains.
$20.00 a week at an average annual return of 11% in 20 years would equal $75,000.
So, the actual money you put in would be $21,000. The gain from compounding interest would be $54,000.
Do it for 30 years and you would have $243,000.00.
A quarter of a million dollars ain't bad, when it only costs you $20.00 a week.
PAX
 
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