For those financially concerned about a strike…. How to cover your self

[Faceplanted]

I have 50g in my 401k so taking out 2g is only a $

You should have taken out the whole 50k out when covid hit, took the tax hit, and put it into a boomer broker index fund with 0 fees that you have total control of.

Imagine having money that is your money, and in many cases already had taxes paid…. That isn’t your money.

People using the ups 401k are giving up control of their money to the bankers just for a 15% tip (tax break)

401k’s are a scam, especially with no company match, but advisors shill these things to prop up the markets, and keep stock prices in select funds (cough cough bright futures) supported, while prudential is getting a huge compounding cut that ends up being worse than the 15% tax savings in many instances.

 

[Commercial Inside Release]

Cost of labor going up, still has to be fought out... Meanwhile, the difficult negotiations have not made the stock go down. The stock price has gone up more than 17points, and is still rising after hours. Plus, UPS has delayed their earnings report, most likely because it shows a whopping profit that will harm their negotiation position.

Haven't really dug around to find out what exactly is going on, but I wouldn't place any puts at this time. It looks unlikely they will pay off. Unless there is a strike, and it goes on for a while... But, I'm starting to think Carol might have something planned to try and show the company can maintain a baseline operation, in order to weaken the strike. There are a lot of things around now, that weren't around in 97. Access points, a legion of gig workers, automated sort facilities, an army of contracted feeder drivers, and UPS 's own gig delivery company Roadie.

I would just wait until next week's negotiations paint a picture of where we are going, and likely just buy the dip after August. Way less risk. It would take a major public meltdown by UPS, to tank the stock for any length of time.

Remember, they have a good earnings report (probably,) back to school orders are rolling in and then the start of peak in October... I'll just buy low and cash out later in January.

*Not advice, just incoherent ramblings to imaginary friends.

 

[Faceplanted]

Cost of labor going up, still has to be fought out... Meanwhile, the difficult negotiations have not made the stock go down. The stock price has gone up more than 17points, and is still rising after hours. Plus, UPS has delayed their earnings report, most likely because it shows a whopping profit that will harm their negotiation position.

Haven't really dug around to find out what exactly is going on, but I wouldn't place any puts at this time. It looks unlikely they will pay off. Unless there is a strike, and it goes on for a while... But, I'm starting to think Carol might have something planned to try and show the company can maintain a baseline operation, in order to weaken the strike. There are a lot of things around now, that weren't around in 97. Access points, a legion of gig workers, automated sort facilities, an army of contracted feeder drivers, and UPS 's own gig delivery company Roadie.

I would just wait until next week's negotiations paint a picture of where we are going, and likely just buy the dip after August. Way less risk. It would take a major public meltdown by UPS, to tank the stock for any length of time.

Remember, they have a good earnings report (probably,) back to school orders are rolling in and then the start of peak in October... I'll just buy low and cash out later in January.

*Not advice, just incoherent ramblings to imaginary friends.

I just put in an order for a 185 put July 28.

No different than betting on a +450 ML dog.

 

[Faceplanted]

Drive in drive out…. What fee’s are you paying to prudential? I’m honestly curious. I’m clueless as to their fees for bright horizons which the teamsters are nice enough to enroll everybody automatically.

If you go down the rabbit hole, you will find some connections and ary between the high ups in those companies, and the high ups at the teamsters funds.

With todays tech, you have to be literally retarded to not know how to auto withdraw to a broker like Schwab/Merrill edge…and select something like s&p 500 + a russel fund of your risk comfort.

 

[DriveInDriveOut]

Drive in drive out…. What fee’s are you paying to prudential? I’m honestly curious. I’m clueless as to their fees for bright horizons which the teamsters are nice enough to enroll everybody automatically.

I don't use the bright horizon target date funds.

The expense ratios for the large mid and small cap funds is around .02% if I recall correctly.

With todays tech, you have to be literally retarded to not know how to auto withdraw to a broker like Schwab/Merrill edge…and select something like s&p 500 + a russel fund of your risk comfort.

I would rather have the tax advantage of a Roth 401k, and don't know why anyone wouldn't if the purpose of the investment is retirement.

 

[Faceplanted]

I don't use the bright horizon target date funds.

The expense ratios for the large mid and small cap funds is around .02% if I recall correctly.


I would rather have the tax advantage of a Roth 401k, and don't know why anyone wouldn't if the purpose of the investment is retirement.

.02 is not bad at all.

My issue is your Roth 401k is your money. Your income, that has been taxed. YOU CANNOT ACCESS IT…. You have to fall under one of the few reasons to touch YOUR money, home purchase ect. And then you have to provide documents blah blah blah, loan to repay in instances.

I don’t understand how anybody can logically let somebody else hold their money for them…. And not be able to get the money if and when you need it…within a few hours.

It’s mind boggling to me. I don’t have more than a few thousand in a bank account. Self custody via metals or crypto is the only answer.

You should have near instant access to your liquidity. Who knows wtf happens in the future. Who knows if you end up punching a supervisor in the face during a strike, he hits his head and dies. You need to be able to get your together when you bond out, and head to Lebanon where you can’t be extradited.

I will never forget during covid… seeing people trying to access their safe deposit box at a bank. They put their valuables in the bank to be safe…. A bad cold strain comes out, and the bank doesn’t allow access on that day, which violates the basic understanding of being able to access your stuff during normal business hours.

 

[DriveInDriveOut]

My issue is your Roth 401k is your money. Your income, that has been taxed. YOU CANNOT ACCESS IT…. You have to fall under one of the few reasons to touch YOUR money, home purchase ect. And then you have to provide documents blah blah blah, loan to repay in instances.

I don't need access to my retirement investments until retirement.

I would strongly suggest no one use those exceptions allowing penalty free withdrawal, and frankly I think it would be better if the exceptions didn't exist at all.

It’s mind boggling to me. I don’t have more than a few thousand in a bank account. Self custody via metals or crypto is the only answer.

Mkay. The crypto economy is highly speculative at this point so I only have a small portion of my investments allocated to it.

Who knows if you end up punching a supervisor in the face during a strike, he hits his head and dies. You need to be able to get your together when you bond out, and head to Lebanon where you can’t be extradited.

Bizarre, but just so you know, generally your 401k is protected from being taken in a lawsuit. Another good reason to use it.

 

[BadIdeaGuy]

Who knows if you end up punching a supervisor in the face during a strike, he hits his head and dies. You need to be able to get your together when you bond out, and head to Lebanon where you can’t be extradited.

Murder is not acceptable picket line behavior.

Just as a heads up.

 

[Faceplanted]

I don't need access to my retirement investments until retirement.

I would strongly suggest no one use those exceptions allowing penalty free withdrawal, and frankly I think it would be better if the exceptions didn't exist at all.

Mkay. The crypto economy is highly speculative at this point so I only have a small portion of my investments allocated to it.

Bizarre, but just so you know, generally your 401k is protected from being taken in a lawsuit. Another good reason to use it.

It’s the principal. Situations occur where it is nice to have liquid assets. Maybe you want to open a side business, maybe there is a death in the family (god forbid) and having cash to pay off others in an inheritance situation in exhange for sole ownership of a house/property ect ect ect.

Do you feel that you need people/organizations looking for your best interests just financially, or in all aspects of your life? Their track record speaks for its self, yet people think they have their best interest in mind.

Crypto is volatile, but you can hold stable coins which are pegged to the value of a dollar, or the price of gold… and in instances are actually audited at levels banks have never seen.

As for a lawsuit….. gold/silver/usdc are also protected from a lawsuit. Hide the pms. When it comes to crypto, you just need to r remember 12 words. You can move around the world with no physical identifiable value, with millions of dollars, without anybody, or any group knowing.

 

[Faceplanted]

Murder is not acceptable picket line behavior.

Just as a heads up.

Crazy things happen as a result of an action that was not meant to end with that result.

All the more reason people should not be comfortable with centralized groups having access to your money and property in this ever changing world.

Things like civil forfeiture, anti terrorism money laundering acts, and soon central. And digital currencies. I’m getting a little off the path… but yea.

 

[DriveInDriveOut]

It’s the principal. Situations occur where it is nice to have liquid assets. Maybe you want to open a side business, maybe there is a death in the family (god forbid) and having cash to pay off others in an inheritance situation in exhange for sole ownership of a house/property ect ect ect.

I have liquid assets, and there are of course multiple options to access lines of credit if needed for the things you listed. My retirement investments are for retirement.

Do you feel that you need people/organizations looking for your best interests just financially, or in all aspects of your life? Their track record speaks for its self, yet people think they have their best interest in mind.

No, I read and listen to differing opinions and investment strategies and try to make decisions that are best for my family. I'm not sure how you came to the conclusion I thought these companies cared about me personally.

Crypto is volatile, but you can hold stable coins which are pegged to the value of a dollar, or the price of gold… and in instances are actually audited at levels banks have never seen.

Lol. Careful with those stable coins buddy. There's a crypto thread in the retirement forum we can talk about that in, because their legitimacy is far more complicated than you're making it out to be.

As for a lawsuit….. gold/silver/usdc are also protected from a lawsuit. Hide the pms.

Fraud is not part of my financial plans but thanks for the suggestion. I guess.

 

[Faceplanted]

I have liquid assets, and there are of course multiple options to access lines of credit if needed for the things you listed. My retirement investments are for retirement.

No, I read and listen to differing opinions and investment strategies and try to make decisions that are best for my family. I'm not sure how you came to the conclusion I thought these companies cared about me personally.

Lol. Careful with those stable coins buddy. There's a crypto thread in the retirement forum we can talk about that in, because their legitimacy is far more complicated than you're making it out to be.

Fraud is not part of my financial plans but thanks for the suggestion. I guess.

I don’t hold stable coins. I have most of my liquid networth in highly volatile crypto.

Fraud…. Lol. What is fraud is federal income taxes, and things like paying alimony after 15 years. What is fraud is usury and how home apr is calculated and paid.

It’s weird how anybody can make a claim, that not presenting all assets in a frivolous lawsuit, decided by compromised judges, or a 75 iq jury of npcs is fraud, while not understanding some of our most basic framework like the federal income tax (unconditional), or how mortgage payments are paid (usury is illegal ) is the true fraud.

 

[Pullman Brown]

I don’t hold stable coins. I have most of my liquid networth in highly volatile crypto.

Fraud…. Lol. What is fraud is federal income taxes, and things like paying alimony after 15 years. What is fraud is usury and how home apr is calculated and paid.

Stealing

 

[I have NOT been lurking]

Murder is not acceptable picket line behavior.

Just as a heads up.

Murder is intentional, accidental homicide isn't

 

[DriveInDriveOut]

I don’t hold stable coins. I have most of my liquid networth in highly volatile crypto.

Fraud…. Lol. What is fraud is federal income taxes, and things like paying alimony after 15 years. What is fraud is usury and how home apr is calculated and paid.

It’s weird how anybody can make a claim, that not presenting all assets in a frivolous lawsuit, decided by compromised judges, or a 75 iq jury of npcs is fraud, while not understanding some of our most basic framework like the federal income tax (unconditional), or how mortgage payments are paid (usury is illegal ) is the true fraud.

Mkay.
Carry on.

 

[Faceplanted]

Murder is intentional, accidental homicide isn't
View attachment 439208

If I’m drunk but get a good lawyer I’m good right?

Mkay.
Carry on.

Philosophy degree recipients are the highest iq out of all graduates. Thinking philosophically is similar to hitting ABACABB on your SEGA controller before mortal combat loads up. But people communicate different and have different basic ways of living.

See u lads in the picket line

 

[I have NOT been lurking]

If I’m drunk but get a good lawyer I’m good right?


Philosophy degree recipients are the highest iq out of all graduates. Thinking philosophically is similar to hitting ABACABB on your SEGA controller before mortal combat loads up. But people communicate different and have different basic ways of living.

See u lads in the picket line

You did nothing, he fell and tripped

 

[Wally]

Or you could go to Vegas , day trading is a slow walk to broke .

I guess you haven't seem our preload millionaires flying in to work.

 

[anonymous23456]

I have 50g in my 401k so taking out 2g is only a $200 penalty?

Don't do it. 10% penalty + deferred tax.

 

[anonymous23456]

Crazy things happen as a result of an action that was not meant to end with that result.

All the more reason people should not be comfortable with centralized groups having access to your money and property in this ever changing world.

Things like civil forfeiture, anti terrorism money laundering acts, and soon central. And digital currencies. I’m getting a little off the path… but yea.

A polite society is an armed society! Don't ever forget that. Molon Labe. Don't threaten people! You are not special.