Totally different situation. Years after netting that $7k a coworker gave me $123k to trade. We were to split profits after paying taxes. I emphasized the risks. Several weeks in he wanted to trade it his way. I went along, lost $50k pretty quickly. Trying to make it up lost considerably more. Kept $23k per our agreement to start a business towing travel trailers. Was to pay him back the $23k plus interest. But he wanted it all back and sued me. That came several years after being hired back at FedEx. I didn't have the money for a lawyer, didn't show up for proceeding in the next state, and had a default judgement against me for $126k(including lawyers fees). I had my paycheck garnished 25% of my take home. After about $14k was taken found out Texas doesn't allow garnishment of wages. Transferred and stayed in Texas until the statute of limitations ran out. I've got nothing to hide. I had told him about getting close the first time. He approached me about trading with him supplying the money. Was his idea but I saw a chance to make some money and get out of FedEx. Due to George Soros several Southeastern Asian countries saw their economies tank and their currencies devalued. They are some of the biggest soybean importers in the world after China. At the same time the U.S. had a record soybean crop and the combined Brazil/Argentina crop had an estimated even bigger crop. The world was awash in soybeans yet the biggest importers were broke. I sold 60 contracts at $7.38 a bushel. Soybeans dropped in about 6 months over $3 a bushel. However my trading partner didn't believe me and insisted we play every little up and down in the price or give him his money back. By the way I had increased the $123k to $158k before that trade. So I went along. 60 contracts is $3k a cent. If we had just sat on it for 6 months we would've grossed over $900k. And I would've been selling more contracts as the price dropped. I took my shots, came up short. Told you about two of the three times I was close. It is what it is. Now just trying to get some savings together. Of course you want to use this against me to do discredit my criticizing the company. Don't care. I've tried things, been places, seen things you can only imagine. Enjoy your plain vanilla life. You may be better off in retirement, but in the end we all die. Carpe diem!
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- Thread starter MassWineGuy
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59 Dano
I just want to make friends!
Chief, the more details you provide about this kind of stuff the clearer it is that you know even less about whatever black helicopter lunacy you believe about FedEx.
You don't know how many times I've wished I could walk away from it all and spend the rest of my life up to my eyeballs in consumer debt with a family of potheads that I dislike so much that I spend as much time away from them as possible and sleep in my car, and in my spare time regaling others with stories about all the almosts that happened in my life.
Yep, I really get to you criticizing the company. Must destroy my credibility. The thing is I don't care. You defend a company that exploits people to make a handful of rich people richer. At the end of the day that's worse than anything I've ever done. Good luck with that.
It will be fine
Well-Known Member
Isn’t that the expected outcome of unregulated capitalism that you support?
Apparently you support too. Otherwise you're onboard with the government taking Express out of the RLA and effectively removing FedEx's incentive to have a separate Ground. I'm not against regulation. But over regulating was stifling the business environment and preventing growth.
It will be fine
Well-Known Member
Blah blah. Why are you upset about a company existing to make money for the owners of the company?
No problem with that. My beef is telling me every year how much I'd have in retirement if I stuck with them, including the years they were planning to end our traditional pension behind the scenes. If you get hired on with them telling you they have this portable pension plan that's the plan you work your retirement around. I was hired under the traditional pension plan and that's what they should have kept me and others under, not pull the rug out from under us. Couple that with years of two percent raises under lower pay while topped out was getting three percent under higher pay and it really rankles. But I'm only bringing it up to elaborate on your question. Don't want Dano to have a meltdown.
falcon back
Well-Known Member
Hey Tex, if I msg you my contact information would you please call me. I want to fire Vanguard and hire you as my retirement advisor. You have done so well in the past with financial matters, I want you to be my money man.
It will be fine
Well-Known Member
Every step of the way you had to chose to continue working there. Every time the company changed their compensation package you agreed to it by continuing your employment. You can not like the changes but the results are entirely on you.
falcon back
Well-Known Member
Exactly. Both are just supplements, even added together. Very few employers provide a pension that will pay a frontline worker 80 to 90k that is needed to live comfortably during retirement. Anything less than that at you are living in your car like Tex.
When they changed the pension the economy tanked in 2008. No where else to go. Then I had my artery blockage in 2011. So rode it out.
Well I did and am retired. Say what you want but living on $22k is infinitely better than running myself ragged for FedEx. Having the extra money isn't worth putting up with the aches and pains plus the work environment. YMMV
falcon back
Well-Known Member
Barely living above the poverty level is NO way to live during retirement.
Leave the guy alone Jesus. We’re all real cool guys logging on to a UPS site to talk FedEx gossip. Embrace your fellow loser and rejoice in his $22K retirement.
falcon back
Well-Known Member
The guy writes a long post about how smart he is trading futures and when its all said and done. He is so broke, he can't pay attention.
If I were smart trading futures I wouldn't be here. I explained what happened in response to Dano misstating what happened.
Yet millions do. My dad doesn't want me living with him the rest of his life, wants his place to himself. So heading to Argentina as soon as they open up. Possibly to Mexico while I wait. My $22k in Argentina is comparable to $80k+ in the States. And with internet I'm watching American tv down there. Eating world's best beef. Seeing world class scenery.
Vast majority of FedEx couriers made considerably less than $80k throughout their careers. Were they all living in cars?
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