Sissy Brown Short Shorts
Well-Known Member
Oh it’s all better now. They stole the tax payers money to bail out their campaign contributors mismanaged funds. I’ll sleep more soundly tonight.
Why a 401(k) Will Yield You More Money Than a Pension
- Thread starter ThePackageDeli
- Start date
ThePackageDeli
Well-Known Member
The real comparison I'm making in this example, and this is the difference between the way you and me are looking at it, is the comparison between taking an active role in your financial future vs. having a passive role in your financial future. I'm less interested in the amount of free money I receive from the company, and more concerned with what my actual financial numbers will be at retirement.
If a 401(k) match means less free-money received from UPS, so be it. I'm okay with that as long as ultimately I have more $$ at retirement.
Family
Well-Known Member
Read, sucker born everyday. Ever play street chess? Most people are not equipped to spend the other half of their life becoming a financial wiz kid.
Up In Smoke
Well-Known Member
Do you self manage your retirement? Are you actively buying, selling and hedging your portfolio on a weekly and quarterly basis? Are you diversified across all 11 sectors of the market or do you just buy mutual funds and hope the fund prospectus will protect your returns? The premise that a company match 401K is better for your economic well being is false unless you die before the 7 years of pension withdrawals.
Just A UPS Guy
Bully.
So you want year-round PVDs and you want the company to get rid if pensions...look out Carol, this guy's coming for your job.
I GOT ONE MORE
Well-Known Member
That’s because those people are stupid as smile* and rely on auto fill and calculators. Open a beer and forget one was already opened.
There’s nothing wrong with paying attention in school instead of cutting classes.
What’s the last book you read, not counting the tv dinner instructions?
There’s nothing wrong with paying attention in school instead of cutting classes.
What’s the last book you read, not counting the tv dinner instructions?
Over70irregs
Well-Known Member
Hypothetical example:
John begins UPS on Jan 1, 2020 and retires on Jan 1, 2055, at age 65.
Under the current pension plan, John's 35 years of service entitle him to roughly $70,000/yr (- taxes) beginning at age 65.
If John lives to be 85, he will have earned roughly $1.4 million(- taxes) in pension income during his lifetime.
-vs.-
If John fully invests his 401(k) from 2020 to 2055, he will have contributed roughly $787,500.
If John's investment grows at 5% for 35 years, his 401(k) account value at age 65 will be roughly $2,130,000 (that's nearly $1.4 million in earnings)
The real question you want to ask yourself is this:
Would I rather earn $1.4 million in taxable income by age 85, or would I rather have $1.4 million of taxable income in my account by age 65?
This is why I would rather have a 401(k) match over a pension.
These numbers get even sweeter when you factor in a company match for 35 years, holy.
The pension is a freaking scam you guys. It's corporate welfare for dummies with no financial discipline.than one in eight of today’s 20-year-olds will die before reaching age 67.”
More than one in eight of today’s 20-year-olds will die before reaching age 67. Company match benefits change over time. Brown is full of jealous management dogs who would salivate to eliminate our unicorn pension. Especially since their Thrift Plan got ripped years back. Pension PLUS 401k match is the direction we are pushing.Hypothetical example:
John begins UPS on Jan 1, 2020 and retires on Jan 1, 2055, at age 65.
Under the current pension plan, John's 35 years of service entitle him to roughly $70,000/yr (- taxes) beginning at age 65.
If John lives to be 85, he will have earned roughly $1.4 million(- taxes) in pension income during his lifetime.
-vs.-
If John fully invests his 401(k) from 2020 to 2055, he will have contributed roughly $787,500.
If John's investment grows at 5% for 35 years, his 401(k) account value at age 65 will be roughly $2,130,000 (that's nearly $1.4 million in earnings)
The real question you want to ask yourself is this:
Would I rather earn $1.4 million in taxable income by age 85, or would I rather have $1.4 million of taxable income in my account by age 65?
This is why I would rather have a 401(k) match over a pension.
These numbers get even sweeter when you factor in a company match for 35 years, holy
The pension is a freaking scam you guys. It's corporate welfare for dummies with no financial discipline.
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Over70irregs
Well-Known Member
If wars get funded then retirements also get hooked up. 51T debt by 2030 projected.
Over70irregs
Well-Known Member
Gd point. I heard somewhere 401ks are being cashed out or borrowed from.
UnionStrong
Sorry, but I don’t care anymore.
I sleep more soundly.
Thebrownblob
Well-Known Member
Everything you said is theory, the 401(k) is not guaranteed money. Every investment strategy should have a balance.
My pension is guaranteed money as long as I meet certain requirements, that is the foundation of my retirement, everything else I’m doing is built on top of it most people do not have a very good foundation and they’re just hoping the market remains stable because everything in your 401(k) is just pretend money until you get close to retirement. In theory my 401(k) will pay me more than my pension if the current trajectory continues and that’s great but I don’t have any guarantees at all, my pension is guaranteed. Union contracts have always been based on guarantees if you don’t like that you don’t have to work here. Plenty of places you can work and take your chances.
Just A UPS Guy
Bully.
He wants full-time PVDs.
Thebrownblob
Well-Known Member
Yep, he’s not the brightest and he’s the one that needs the pension guaranteed money the most.
DriveInDriveOut
Inordinately Right
If the amount going into the pension on my behalf were going into my 401k instead, I would be much better off.
It's never going to happen though so the entire conversation is pointless.
Over70irregs
Well-Known Member
It’s good conversation. Makes guys think. We spend so much time working it’s easy to let years fly by.
I’ll take a pension any day of the week…local 639 drivers retire after 30 years get about 10g a month….401k nice….but I want that fat check….IHypothetical example:
John begins UPS on Jan 1, 2020 and retires on Jan 1, 2055, at age 65.
Under the current pension plan, John's 35 years of service entitle him to roughly $70,000/yr (- taxes) beginning at age 65.
If John lives to be 85, he will have earned roughly $1.4 million(- taxes) in pension income during his lifetime.
-vs.-
If John fully invests his 401(k) from 2020 to 2055, he will have contributed roughly $787,500.
If John's investment grows at 5% for 35 years, his 401(k) account value at age 65 will be roughly $2,130,000 (that's nearly $1.4 million in earnings)
The real question you want to ask yourself is this:
Would I rather earn $1.4 million in taxable income by age 85, or would I rather have $1.4 million of taxable income in my account by age 65?
This is why I would rather have a 401(k) match over a pension.
These numbers get even sweeter when you factor in a company match for 35 years, holy
The pension is a freaking scam you guys. It's corporate welfare for dummies with no financial discipline.
Jkloc420
Do you need an air compressor or tire gauge
Fake name, are you @IVE GOTTA PACKAGE 4UHypothetical example:
John begins UPS on Jan 1, 2020 and retires on Jan 1, 2055, at age 65.
Under the current pension plan, John's 35 years of service entitle him to roughly $70,000/yr (- taxes) beginning at age 65.
If John lives to be 85, he will have earned roughly $1.4 million(- taxes) in pension income during his lifetime.
-vs.-
If John fully invests his 401(k) from 2020 to 2055, he will have contributed roughly $787,500.
If John's investment grows at 5% for 35 years, his 401(k) account value at age 65 will be roughly $2,130,000 (that's nearly $1.4 million in earnings)
The real question you want to ask yourself is this:
Would I rather earn $1.4 million in taxable income by age 85, or would I rather have $1.4 million of taxable income in my account by age 65?
This is why I would rather have a 401(k) match over a pension.
These numbers get even sweeter when you factor in a company match for 35 years, holy
The pension is a freaking scam you guys. It's corporate welfare for dummies with no financial discipline.
