brownmonster
Man of Great Wisdom
Sounds great. Cocktails after?
When did you start 401k and what's your balance
- Thread starter brown metal coffin
- Start date
Sounds great. Cocktails after?
didyousheetit
Well-Known Member
i've not read any comments on anyone using the self manage accounts. Thats where I made up everything after the crash. Plus I put max amount in after tax since strike in 1997
satellitedriver
Moderator
My self managed account has returned a 60% higher return over the S&P and Dow, since 2008.
The strike in 97' was my motivation to get proactive with my retirement/investment future.
I have to thank the teamsters for waking me up to the fact my retirement future was up to me.
Old International
Now driving a Sterling
Ya'll are slack- I am north of half a mil, with 8-9 years to go. I save 20% a week, and almost always max out each year.
browniehound
Well-Known Member
I've read the average balance in people's 401k's in the US is around 60K. That may be enough to play golf every weekend in retirement but nothing else. I'm not 40 yet and I've been maxing out my contributions every year since 2002. I don't want to spend one day more at UPS than I have to.
Don't care about when I can collect the pension. I'm retirering the day after I turn 59.5 which is the first day I can draw off the 401k.
Wouldn't it be great if we could get a 3-7% match from UPS in the 401k. I would gladly give up 75% of my raises in the next contract for a 7% 401k match from the company. It just never will happen but its nice to dream.
Don't care about when I can collect the pension. I'm retirering the day after I turn 59.5 which is the first day I can draw off the 401k.
Wouldn't it be great if we could get a 3-7% match from UPS in the 401k. I would gladly give up 75% of my raises in the next contract for a 7% 401k match from the company. It just never will happen but its nice to dream.
brownmonster
Man of Great Wisdom
You can start withdrawing the 401K at 55 if you retire.
Brownslave688
You want a toe? I can get you a toe.
What's it really matter? Match means more money in your pocket. Raise means the same thing. Don't understand the premise here.
UpstateNYUPSer(Ret)
Well-Known Member
You can't touch the match. Yes, you can always increase your contribution by the amount of the raise, but how many of us actually do this?
I would rather have a company match and have the money going to my pension instead go directly in to my 401k.
S
serenity now
Guest
of the people that have responded to this thread thus far, does anyone give 10% (or more) of their gross earnings to a church or a combination of charities?
UpstateNYUPSer(Ret)
Well-Known Member
5%
Im just really wondering the reason for the stock market doing so well.
Call me cynical, call me conspiracy theory, after listening to all the experts, my gut tells me...................Its is so the govt can take over our 401ks, you know its been mentioned, you know they want to, but they want them at the highest possible level, first.
Call me cynical, call me conspiracy theory, after listening to all the experts, my gut tells me...................Its is so the govt can take over our 401ks, you know its been mentioned, you know they want to, but they want them at the highest possible level, first.
Catatonic
Nine Lives
I pulled out some investments this week because this run-up makes no sense.
Seemed like a good time to cash in some profits and sit on the sidelines for a month or so.
In regards to the 401k takeover, that will not occur as long as the Republicans can block it which is good for a couple of more years.
Brownslave688
You want a toe? I can get you a toe.
Nope. That's a lot of freaking money. That ill add I could turn into a whole lot more money before its said and done.
Brownslave688
You want a toe? I can get you a toe.
Yeah but the guy that mentioned it was someone that's been maxing out for 10 years. He said he would give up raises for a match.
My point was what difference does it make for him? He's already maxing out. A match or a raise is going into his pocket.
Jesus just loves that answer!
Brownslave688
You want a toe? I can get you a toe.
Actually this bull market is steal cheap. This of course is strictly comparing P/E ratios of previous bulls to this specific bull market. Historically speaking we could run up close to DOW 17,000 before the market would be overpriced and ready for a pull back.
What'dyabringmetoday???
Well-Known Member
One thing is certain-I am lucky to have all of this rock-solid, FREE financial advice right here on Brown Cafe.
Ms.PacMan
Well-Known Member
+1 Here's a very respected Republican economist (that hates Obama and QE) and he thinks the market is "underwhelming".
TheMoneyIllusion
Keep on saving and for some of you, for goodness sake, turn off the TV!
wilberforce15
Well-Known Member
We give 10% of gross to charity. And I confess I really don't understand how anyone can be FT at UPS for decades and not have enough for a comfortable retirement, regardless of the pension. If you live in a super-high cost of living area, maybe. But the rest I just don't understand.
I'm coming up on 30. I'm part-time at UPS and own a small solo business, and my wife works 25ish hours a week. Together, we've averaged a salary in the 60-70k range over the last 5 years. It was 40-50 for 3 years before that.
We graduated college with 30k in debt between us, and no assets to speak of. Today, with two small children (and hopefully more coming), we're completely debt free with two nice cars that will last a long time, and about 100k totaled between retirement and the start of a house down payment. That's in 8 years. In the next ten years, those financial assets are gonna look a lot more like 300k when we're turning 40, with a house mostly paid off by then. That's if income stays roughly the same. Income doesn't always stay the same, and crap happens in life.
But jeez, I'm pretty sure we're in better shape than many, maybe most, FT UPSers who have had higher incomes than us for decades. Where does all the money go?
Live below your means. Live WELL below your means. That means live far below it, and also to actually live WELL while living below your means. We eat good food made at home, have a lot of fun for free, and have tremendous wealth in our friends and family.
Get out of your debt traps. Downsize your house. Cook more as a family. Go to the park and the museum. We're not wearing tatters, and we're not driving beaters. But we have way more money than we 'should' have. It's liberating. Breathe the free air. It's a lot easier without a load on your back.
I could go on a while. But I'll call that done.
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texan
Well-Known Member
Re "Its is so the govt can take over our 401ks"
Makes me ponder also when 401's will be hit with heavy or more taxes.
Or mandated 20 per cent of government T-Bonds in your 401K.
If it wasn't for that dreaded Republican Congress................
It might be sooner than we think.
Retirement Savings Accounts Draw U.S. Consumer Bureau Attention
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role
in helping Americans manage the $19.4 trillion they have put into retirement savings, a move
that would be the agency’s first foray into consumer investments.
“That’s one of the things we’ve been exploring and are interested in in terms of
whether and what authority we have,”bureau director Richard Cordray said
in an interview. He didn’t provide additional details.
Retirement Savings Accounts Draw U.S. Consumer Bureau Attention - Bloomberg
