UPS Plans to Cut Non-Driver Jobs to Mitigate Union Labor Costs

[IVE GOTTA PACKAGE 4U]

A 401k with 3.5 million in it will average $29,000 per month in growth. The 401k wins. And after 30 years, you'll still have 3.5 million in the 401k to pass on to the next generation.

You have forgot about the secure act

 

[ThePackageDeli]

If A driver places 30% of his salary for 30 years with a 5% growth average he'd only have 1.8 million.

The real world calculation would be based on 10% per year which would get you to around 3.5. The historic average of the S&P 500 index is 10 to 12%. And the index fund is absolutely what I would be investing in almost exclusively. It's the easiest way to diversify.

 

[RangerMan06]

The real world calculation would be based on 10% per year which would get you to around 3.5. The historic average of the S&P 500 index is 10 to 12%. And the index fund is absolutely what I would be investing in almost exclusively. It's the easiest way to diversify.

The real world calculation would be based on 10% per year which would get you to around 3.5. The historic average of the S&P 500 index is 10 to 12%. And the index fund is absolutely what I would be investing in almost exclusively. It's the easiest way to diversify.

You must be factoring in an employee match. I'm coming up with 1.7 with your numbers. Average growth rate for a 401k is 5-8 percent.

 

[ThePackageDeli]

You must be factoring in an employee match. I'm coming up with 1.7 with your numbers. Average growth rate for a 401k is 5-8 percent.

It's higher than 8%. It's 10% for a basic index fund. When I said earlier about utilizing the 401k to it's maximum potential, I meant maxing it out every year. Right now $22,500 is max. Next year it's likely to go to $23k. A 30 year old who begins maxing out their 401k in 2024 with 10% interest at age 65 will have over $7 million actually. So this 3.5 we're talking about is soft numbers.

 

[RangerMan06]

It's higher than 8%. It's 10% for a basic index fund. When I said earlier about utilizing the 401k to it's maximum potential, I meant maxing it out every year. Right now $22,500 is max. Next year it's likely to go to $23k. A 30 year old who begins maxing out their 401k in 2024 with 10% interest at age 65 will have over $7 million actually. So this 3.5 we're talking about is soft numbers.

I'm all for making money but I doubt most drivers are going to be able or willing to put in nearly 2k a month for 30 years.
I was going by the average 401k growth rate. Index funds are shaky IMO

 

[ThePackageDeli]

I'm all for making money but I doubt most drivers are going to be able or willing to put in nearly 2k a month for 30 years.
I was going by the average 401k growth rate. Index funds are shaky IMO

Index funds are inside of your 401k. You have the option to allocate 0-100% of your contribution into either the 500 index fund, or use their "target date fund" if you don't adjust it.

 

[RangerMan06]

Index funds are inside of your 401k. You have the option to allocate 0-100% of your contribution into either the 500 index fund, or use their "target date fund" if you don't adjust it.

I'll take your word for it. I need to sit down with Edward Jones because I'm not seeing anywhere close to 10 percent growth per year in mine

 

[ThePackageDeli]

I'm all for making money but I doubt most drivers are going to be able or willing to put in nearly 2k a month for 30 years.
I was going by the average 401k growth rate. Index funds are shaky IMO

And that gets to the heart of the point which is that people can choose to do the hard thing (401k) and reap much greater benefit, or they can do the easy thing (pension) and reap a lesser benefit.

 

[ThePackageDeli]

I'll take your word for it. I need to sit down with Edward Jones because I'm not seeing anywhere close to 10 percent growth per year in mine

The target date funds on prudential (empower) were showing lesser returns AND higher fees than the 500 index fund. As soon as I saw that, I said screw that! UPS you can keep your target date fund I think it's a gimmick.

 

[RangerMan06]

The target date funds on prudential (empower) were showing lesser returns AND higher fees than the 500 index fund. As soon as I saw that, I said screw that! UPS you can keep your target date fund I think it's a gimmick.

Thanks I'll definitely look into changing some things up. I know I'm in the target fund. Was thinking about trying some REITs

 

[RTS313]

I believe he was talking the body tension, 401K balance and social security

The person wants to draw 10.000 a month for 30 years ? What kind lifestyle does a retiree live where you 10 grand a month

 

[PT Car Washer]

Before preload was created to give ups more control over dispatching, thats how it was. Drivers came in a did it themselves. All we really need is the keys to the bldg. We'll do the rest.

There also was no accountability with driver sort and load. Drivers self dispatched themselves. Cheating on stops was rampant with drivers taking just the stops they could bonus on and leaving the junk stops behind for the newbies to deliver.

 

[RangerMan06]

The person wants to draw 10.000 a month for 30 years ? What kind lifestyle does a retiree live where you 10 grand a month

30 years down the road 10k will be like 2k

 

[RTS313]

Thanks I'll definitely look into changing some things up. I know I'm in the target fund. Was thinking about trying some REITs

Medical REITS you might want to research America has a growing obesity and kidney dialysis problem. iMO The present day kids tend to stay online do very little physical activity ,eat microwave meals, fast food ultra high processed foods as teenager and young adults vaping . Those behaviors will lead to health issues when they get older.

 

[RangerMan06]

Medical REITS you might want to research America has a growing obesity and kidney dialysis problem. iMO The present day kids tend to stay online do very little physical activity ,eat microwave meals, fast food ultra high processed foods as teenager and young adults vaping . Those behaviors will lead to health issues when they get older.

Can you elect that through Prudential?

 

[RTS313]

Can you elect that through Prudential?

No I used Edward Jones advisor

 

[Brown Circus]

We can’t get sups to stop eating crayons in our building

 

[PT Car Washer]

@PT Car Washer

The company barely washes cars with a wash facility.


How does the company fulfill your contractual guarantee ?

Still waiting for your comments on my post #363.

 

[Red Devil]

God I love Orion!

It’s such a relief when I go out blind with 200 stops and I know that Orion is there to guide me every step of the way!

I love how this company is such a paragon of safety and efficiency!

We have always been at war with Eastasia!

 

[KearsargeCoop]

God I love Orion!

It’s such a relief when I go out blind with 200 stops and I know that Orion is there to guide me every step of the way!

I love how this company is such a paragon of safety and efficiency!

We have always been at war with Eastasia!