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UPS Retirement Topics
UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 2012
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<blockquote data-quote="Jones" data-source="post: 1167324" data-attributes="member: 4805"><p><strong>Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20</strong></p><p></p><p></p><p>For tax purposes they are the same, ie, you pay taxes on your contributions now (at today's low rates) and pay no taxes on your withdrawals when you retire. The big differences are the max amount you can contribute per year which is $5,500.00 for IRA and $17,500.00 for the 401K, and the fees you will pay to the people who manage your money. You will pay up 10X more in fees to Edward Jones(that's not an exaggeration) than you will to the 401K so if you're a fool who feels the need to be parted from his money, head on over to Edward Jones and they will take care of you.</p><p></p><p>What I'm saying is that the Roth 401K is a much better deal.</p></blockquote><p></p>
[QUOTE="Jones, post: 1167324, member: 4805"] [b]Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20[/b] For tax purposes they are the same, ie, you pay taxes on your contributions now (at today's low rates) and pay no taxes on your withdrawals when you retire. The big differences are the max amount you can contribute per year which is $5,500.00 for IRA and $17,500.00 for the 401K, and the fees you will pay to the people who manage your money. You will pay up 10X more in fees to Edward Jones(that's not an exaggeration) than you will to the 401K so if you're a fool who feels the need to be parted from his money, head on over to Edward Jones and they will take care of you. What I'm saying is that the Roth 401K is a much better deal. [/QUOTE]
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UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 2012
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