New Video! UPS Teamsters 401k Most Common Questions

[Thebrownblob]

I can’t remember the exact amounts I believe it was close to 17,000 in my 401(k) and close to 4000 in my Roth 401k. I got a separate form from Prudential saying I put too much in got some sort of refund an owed taxes on money I made when it was in the 401k and I’m assuming they add both regular and Roth 401(k) those together for the limit? Seems like it would’ve been their fault but I just took care of it as it wasn’t a huge amount. I’m not over 50 yet lol.

 

[reginald95]

I’ve been maxing out my 401k every year since I started driving. Going to be sitting pretty when I retire.

 

[DriverNerd]

I can’t remember the exact amounts I believe it was close to 17,000 in my 401(k) and close to 4000 in my Roth 401k. I got a separate form from Prudential saying I put too much in got some sort of refund an owed taxes on money I made when it was in the 401k and I’m assuming they add both regular and Roth 401(k) those together for the limit? Seems like it would’ve been their fault but I just took care of it as it wasn’t a huge amount. I’m not over 50 yet LOL

I agree with you. I find it strange that they would only put the limit on each individual plan and not on the total amount for all of the individual plans combined.

 

[Frank888]

Good video as usual! What is the maximum contribution percentage that I could put in per week? Also, if I eventually leave, how would I cash out the money? I'm looking forward to your reply.

 

[IVE GOTTA PACKAGE 4U]

Good video as usual! What is the maximum contribution percentage that I could put in per week? Also, if I eventually leave, how would I cash out the money? I'm looking forward to your reply.

If you leave you do not cash out that money until at least your 59 1/2

 

[DriverNerd]

Good video as usual! What is the maximum contribution percentage that I could put in per week? Also, if I eventually leave, how would I cash out the money? I'm looking forward to your reply.

35% up until you hit the maximum allowable per year. You can cash out a 401k whenever you want, but doing so before 59 1/2 will result in a penalty. Usually switching jobs means either rolling it over into your new companies 401k or keeping it in its existing one.

 

[Coldworld]

Another good video thank you for sharing with us.
What a lot of these guys do not understand is they think just because they got a pension they do not have to say for retirement.

And we all know how some of these pension plans have failed over the years so everyone needs to take all personal responsibility for themselves say they are not stuck at this place forever.

To be fair, new employees, young employees have to spend much much more on housing than you and I had to…makes a huge difference in what % they can dedicate to 401/Roth…this isn’t the 60’s anymore buddy.

 

[Coldworld]

Too bad Greg is on Facebook because I cannot stand down on that site.
But I will mention one thing he did not say is that you can automatically sit your 401k to bump up every year.
Basically we're getting about a 2% pay raise every year you could set up every August to up your 401k by 1%, and you'd still bring more money home and would be putting more money into your 401k

I would love to sit down and have a few beers with you guys

Everyone should raise their 401k this August 2%…. We will be getting a buck raise and more than likely a COLA bump…I am going to make it a tik tok challenge and call it “join with the green ol’ bastard and jack that rate up 2% “ challenge.

 

[IVE GOTTA PACKAGE 4U]

To be fair, new employees, young employees have to spend much much more on housing than you and I had to…makes a huge difference in what % they can dedicate to 401/Roth…this isn’t the 60’s anymore buddy.

Well maybe if they quit buying all that food out of the vending machines and brought their own bottle of pop or a bag of snacks they can afford to put of money into the 401K

 

[IVE GOTTA PACKAGE 4U]

Everyone should raise their 401k this August 2%…. We will be getting a buck raise and more than likely a COLA bump…I am going to make it a tik tok challenge and call it “join with the green ol’ bastard and jack that rate up 2% “ challenge.

I'm using my raise money to buy slim jims in four lokos before the price goes up

 

[Coldworld]

I'm using my raise money to buy slim jims in four lokos before the price goes up

We’re getting to the point where the bunker is starting to smell like a German sausage factory… we’re putting the extras in old storage containers in the backyard…we’re set for a 20 year strike!

 

[Coldworld]

Well maybe if they quit buying all that food out of the vending machines and brought their own bottle of pop or a bag of snacks they can afford to put of money into the 401K

True…had a burrito out of one of those vending machines one time…..NEVER AGAIN!!!

 

[IVE GOTTA PACKAGE 4U]

We’re getting to the point where the bunker is starting to smell like a German sausage factory… we’re putting the extras in old storage containers in the backyard…we’re set for a 20 year strike!

I'll be working for Amazon by then

 

[Coldworld]

I'll be working for Amazon by then

I can’t wait!! Be a part of playboy bezos army of lackeys

 

[IVE GOTTA PACKAGE 4U]

I can’t wait!! Be a part of playboy bezos army of lackeys

Crash and dent and keep delivering

 

[Coldworld]

Crash and dent and keep delivering

Jerry rig the side sliding door so it stays open during stops… have seen this a couple times around town.

 

[IVE GOTTA PACKAGE 4U]

Jerry rig the side sliding door so it stays open during stops… have seen this a couple times around town.

I've seen plenty

 

[Coldworld]

I've seen plenty

These drivers are not trained at all… most are pretty much kids who are between jobs or can’t work with other employees for 8 hours. Interesting fact that they are shutting down their book stores and their numbers for last quarter weren’t like they have been…

 

[Wally]

We have some drivers with 20 years in with over 1Million in their 401ks and others who still live paycheck to paycheck.

Ex-wives can do that.

 

[Ou812fu]

Put the same amount of funds into the same stocks that your 401k is based off of. Tell me if your money in the stocks creates more money then the 401k..