Thoughts on UPS 2016 Pension Buyout

[UpstateNYUPSer(Ret)]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

 

[DOK]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

If ones invests it properly it will be a small fortune and I imagine you can beat whatever ups was going to give you. If you didn't want to take the chance, don't do it.

 

[UpstateNYUPSer(Ret)]

I was referring more to the shortsightedness of those who opted for the lump sum.

 

[PT Car Washer]

I was referring more to the shortsightedness of those who opted for the lump sum.

Roll over the lump sum into a retirement account and you could be better off. Of course there are no guarantees.

 

[Wally]

Spend it like a drunken sailor!

 

[Johney]

Yawn.

 

[What'dyabringmetoday???]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

Please stop trying to pretend that you are a financial guru. Of course, I guess you can be whatever you want to be on the internet. Now, if I could get my hands on a lump sum of money, I would head straight to the Nissan dealer. LOL

 

[IVE GOTTA PACKAGE 4U]

Please stop trying to pretend that you are a financial guru. Of course, I guess you can be whatever you want to be on the internet. Now, if I could get my hands on a lump sum of money, I would head straight to the Nissan dealer. LOL

Buy or lease?

 

[Babagounj]

My pension plan did away with that years ago along with out at 25 years at any age .
I was short by a few months back then , bummer.

 

[UpstateNYUPSer(Ret)]

Buy or lease?

Lease with all the bells and whistles.

 

[UpstateNYUPSer(Ret)]

Please stop trying to pretend that you are a financial guru. Of course, I guess you can be whatever you want to be on the internet. Now, if I could get my hands on a lump sum of money, I would head straight to the Nissan dealer. LOL

Never claimed to be a guru but anyone with an ounce of common sense would not have taken the lump sum.

 

[FrigidFTSup]

Never claimed to be a guru but anyone with an ounce of common sense would not have taken the lump sum.

They aren't targeting those with common sense. They're gunning for the guys who have never put money in a savings account

 

[burrheadd]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

Why does this concern you so?

It really is none of your business what strangers on the internet do with their money

 

[govols019]

He's just trolling....it's what he does best.

 

[Prissy0120]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

Why are you so butt hurt over folks taking their lump sum payouts? I just don't get why you are so concerned. Who are you to judge?

 

[burrheadd]

Why are you so butt hurt over folks taking their lump sum payouts? I just don't get why you are so concerned. Who are you to judge?

Tell it Priss !!!

 

[Turdferguson]

Just a few personal thoughts on some of the comments that I have read on the Pension Buyout thread. Judging by the reactions from some, you would think that they have won the lottery when, in reality, they are opting for instant gratification rather than responsible long term financial planning. Would you rather have $1000 today or $10000 in 20-30 years?

I would think that the bean counters at UPS are laughing their collective butts off as they continue to shed pension obligations for pennies on the dollar.

As was pointed out, what would those who opted for the lump sum distribution in order to resolve whatever personal financial issues they are having have done had this buyout not been offered? Additionally, those who are in good financial shape and opted to take the lump sum to go on a spending spree, need to look in to why they chose to do this.

Responsible short and long term financial planning is the key to a secure and comfortable retirement.

Had I been offered the buyout I would have scheduled an appointment with my Edward Jones adviser to work together to determine the best use for that money. I may have been tempted to use part of that money to help my son with his student loans but in the end I would not have touched any of that money as that would have been a foolish decision on my part.

The "it's my money and I want it now" mentality is why many of you will have to work well past your projected retirement dates.

Could not agree more. Someone needs to go into that thread to talk some sense into these people. I would offer to, but am not really financially savvy enough to. Perhaps you should take it upon yourself to?

 

[clean hairy]

Never claimed to be a guru but anyone with an ounce of common sense would not have taken the lump sum.

No one owes anyone else an explanation for taking the lump sum.
Each person after evaluating their financial situation determined what was best for them.
Why critcize those who took the lump sum based on their own situation?

 

[ChrisTheBrown]

Lease with all the bells and whistles.

Dave Ramsey does not approve of leasing a vehicle. He thinks it's stupid, & frankly, I have to agree.

 

[cosmo1]

Lease with all the bells and whistles.

It's a year old Altima. Probably one step above the base model.



You have no idea what "all the bells and whistles" really are.