Teamster UPS 401K - Prudential Financial

[Rack em]

60k year honestly isn't very impressive. 20% gains is a few hundred thousand that's it.

I will always be impressed with a free 60k!!!

 

[UpstateNYUPSer(Ret)]

S&P returned like 18% last year.
The guy would only need like 350k in there to get a 60k gain in 2017.

Only 350K?

 

[DriveInDriveOut]

Only 350K?

Uh, ya.
The guy is retired. A measly 5k a year for 20 years will get you there.

 

[IVE GOTTA PACKAGE 4U]

Only 350K?

You don't have that much? You should buy instead of lease. Maybe work a little over time?

How many more days before you leave BC?

 

[35years]

DJIA went up 25% last year.
$60k is 25% of $240K.

Any retired driver who started saving a decent % of income in his 401K (since we got the 401K) should have at least that much.

$240K (without the pension and SS) would not go very far.

 

[542thruNthru]

Uh, ya.
The guy is retired. A measly 5k a year for 20 years will get you there.

I'm over 200k in mine and have at least another 11 years to go till I retire. So yeah it's definitely doable.

 

[UpstateNYUPSer(Ret)]

You don't have that much? You should buy instead of lease. Maybe work a little over time?

How many more days before you leave BC?

Put down the bottle.

 

[35years]

I'm over 200k in mine and have at least another 11 years to go till I retire. So yeah it's definitely doable.

With 11 years to go you should easily reach $600,000 if we have average gains
Compound Interest Calculator | Investor.gov

$200,000 today
$800 a month deducted from pay
8%...$600K plus in 11 years
11.2%...$832K in 11 years

Historical average return since WW2 for DJIA= 11.2%

 

[542thruNthru]

With 11 years to go you should easily reach $600,000 if we have average gains

I try not to think about what I might have at the end. I just hope it's enough and that I get to spend it.

 

[IVE GOTTA PACKAGE 4U]

With 11 years to go you should easily reach $600,000 if we have average gains

And if I just picked 6 numbers on the Powerball

 

[542thruNthru]

And if I just picked 6 numbers on the Powerball

You would have to be able to count that high
First!

 

[Brownslave688]

S&P returned like 18% last year.
The guy would only need about 350k in there to get a 60k gain in 2017.

350k is nice but not some live like a king amount.

 

[Brownslave688]

I will always be impressed with a free 60k!!!

Bet you won't.

 

[UpstateNYUPSer(Ret)]

What is the average 401k balance?

(Hint: it is nowhere near $350K)

 

[35years]

What is the average 401k balance?

(Hint: it is nowhere near $350K)

George Carlin — 'Think of how stupid the average person is, and realize half of them are stupider than that.'

 

[IVE GOTTA PACKAGE 4U]

What is the average 401k balance?

(Hint: it is nowhere near $350K)

Maybe not yours

 

[brownmonster]

What is the average 401k balance?

(Hint: it is nowhere near $350K)

I checked tonight. $463,000. Down 8k since last week.

 

[Jackburton]

I checked tonight. $463,000. Down 8k since last week.

That’s what you’re sitting at or the avg? Was just googling stats and it looks like 100-200k is the avg for 55-70 year olds.

 

[brownmonster]

That’s what you’re sitting at or the avg? Was just googling stats and it looks like 100-200k is the avg for 55-70 year olds.

My balance. Age 50-60.

 

[Jackburton]

I find it intresting no one has brought up liabilities people carry over into retirement such as car payments/leases, credit card debt, or house payments; or lack of.