UpstateNYUPSer(Ret)
Well-Known Member
She had a 403b with a minimal balance.
When did you start 401k and what's your balance
- Thread starter brown metal coffin
- Start date
She had a 403b with a minimal balance.
Not even 2 years in, started at 6%, am now up to 10, and I plan on going higher in the future and I'm just under 11 grand.
DorkHead
Well-Known Member
I used to have a wife----now she has 1/2 of my (1996) 401k balance and 16% of my pension.
You are lucky it`s only 16%. Most divorced UPSers I know have to give 50%.
UpstateNYUPSer(Ret)
Well-Known Member
In NY it is 2% for every year of the marriage in which one of you was employed at the company with the pension.
thessalonian13
Well-Known Member
I started saving 15% pre-tax in 1993 and had 52,000 in 2000. Took $26,000 out in the year 2000 for down-payment for my house in the form of a loan. I paid my 401k back at 12% interest. Then in 2008 right before the financial crash i was smart enough to listen to my brother and moved all my money to the stable value fund. Put all back into S&P 500 fund when market was at around 7,400. Now I have over $227,000. Still have 8 years to go and still have 10% going in every week.
What'dyabringmetoday???
Well-Known Member
Get in the way? Priceless...
HEFFERNAN
Huge Member
According to Fidelity Investments -
Laid out visually, the guidelines look like this:
Laid out visually, the guidelines look like this:
- By 35, save 1x gross annual salary
- By 40, save 2x gross annual salary
- By 45, save 3x gross annual salary
- By 50, save 4x gross annual salary
- By 55, save 5x gross annual salary
- By 60, save 6x gross annual salary
- By 67, save 8x gross annual salary
Catatonic
Nine Lives
Started in 1989 and only put in 3 - 4 % through 1994.
In 1995, I figured out where UPS was going in regards to taking care of us and started putting the max into 401k.
I think the max was something like $12k a year in 1995.
Last year it was $23,000 since I can put extra in the +50 Catch Up.
This year (2 months of UPS salary + MIP) I am hoping to put in around $18,000.
I have more in my 401k account than the value of my pension (based on UPS Total Rewards).
As of today, I am retired and officially no longer a UPS employee.
I have a business with two IC (Independent Contractor) jobs (Photography related) of which I hope to put some funds in a ROTH SEP starting next year (you cannot contribute to two separate plans in the same calendar year).
I plan to continue to put money into tax-advantaged funding as long as I can ... hopefully at least 8 more years.
In 1995, I figured out where UPS was going in regards to taking care of us and started putting the max into 401k.
I think the max was something like $12k a year in 1995.
Last year it was $23,000 since I can put extra in the +50 Catch Up.
This year (2 months of UPS salary + MIP) I am hoping to put in around $18,000.
I have more in my 401k account than the value of my pension (based on UPS Total Rewards).
As of today, I am retired and officially no longer a UPS employee.
I have a business with two IC (Independent Contractor) jobs (Photography related) of which I hope to put some funds in a ROTH SEP starting next year (you cannot contribute to two separate plans in the same calendar year).
I plan to continue to put money into tax-advantaged funding as long as I can ... hopefully at least 8 more years.
Brownslave688
You want a toe? I can get you a toe.
??? Isn't that kind of personal to ask what the balance is? JMHO
I can understand asking the percentage saved every week. I can also understand asking which of the savings plan chosen. I can also understand asking when a person started saving. But the balance?Guess I was just raised a little differently than some.
I will say this - when the market took its major hit in the latter part of 2008 - we lost quite a bit. Never really recovered it all before retirement. That has made a difference now. Wish that we had been able to have the financial advisor handle it then that handles it now.
i think this is whymany young ppl have trouble with money. No one wants to talk about it. What's the big deal? Why is it personal? Plus this is an Internet forum.
Brownslave688
You want a toe? I can get you a toe.
The reason I keep me and my wife's retirement accounts looking very similar.
I started saving late 2010, I am 27 and still part time. I have went from 12% to 5% when my wife and I bought our house. Right now I am at $3,900. I plan to put about 15-20% when I go FT and save as much as possible. I have everything in the 2045 Bright Horizon fund up 14.36% last year
ZJ NOMAD
Well-Known Member
I started saving in 2007 at around 10% I fluctuated between 2%-10% contribution from 2007 - 2012, now i have been steady at 10%. Total as of FEB. 2013 is $5800.00. I also have 83 UPS stock shares, and I am buying UPS stock at $21.00 per week. I plan on raising my 401k contribution to 15% after the new contract goes into effect, then raising it even more when I become full time. I easily have another 30 good years of contribution. On top of all this my pension, and my wife's pension as she is a teamster as well. So we should be OK in about 30 years.
pretender
Well-Known Member
Timing is everything! I was not smart enough to transfer my money before the crash--I just rode it out. At least I recovered all of my losses and then some. I feel sorry for the people who pulled all of their money out of the market AFTER the crash. Depending on their age, they will probably never recover...
Richard Harrow
Deplorable.
I'm not overly aggressive, the stock market is too volatile for my liking to pour too much money into. The best thing we have going for us is that everytime my wife's bank sells, we run into $100k thanks to her being vested. My mother, who is with the same institution, has made somewhere near $400k in the last 13 years the same way. Sell baby sell!
Pretty much how it works with us is that I make the money for the now, she makes the money for the later.
Pretty much how it works with us is that I make the money for the now, she makes the money for the later.
Does anyone remember the Big Johnson T shirts? They were hilarious.
Returntosender
Well-Known Member
Have'nt seen this shirt in a while
menotyou
bella amicizia
I still see them at the mall. They are hilarious.
Notretiredyet
Well-Known Member
I can't remember all the details, started in 78 in thrift plan at $6 a week. Bought 10k more when we could purchase stock in bulk just prior to going public. Been in 401 plan since inception starting out slow and adding more % as my wages went up. Used to put $50 a week in stock plan but stopped when the match dropped. Been maxing out the last few years in both 401k and Roth plan, won't get into numbers as I got flack for that on a prior post. Lets just say my financial guy thinks I'm doing great for a guy that wasn't born into money. Start ASAP at the amount you can afford and increase at every opportunity, it will be worth it. Not there yet but an hourly can retire a millionaire if you work at it.
brownmonster
Man of Great Wisdom
Glad to see yrou are saving for retirement. Oh wait, you are retired. We have so many drivers retired that don't touch their retirement savings? Why save it then?
