New Video! UPS Teamsters 401k Most Common Questions

[IVE GOTTA PACKAGE 4U]

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..

That doesn't make any sense

 

[Ou812fu]

That doesn't make any sense

Really??, 401k plans have funds divided into individual stocks. It breaks it down when you look at the plan. The percentages of your money in what stock. All I'm saying is take what you currently have in your 401k account and match it with money you use to buy the same percentages of stock as the 401k. I'll bet you that the stock you bought that matched your 401k will make you more money..

 

[IVE GOTTA PACKAGE 4U]

Really??, 401k plans have funds divided into individual stocks. It breaks it down when you look at the plan. The percentages of your money in what stock. All I'm saying is take what you currently have in your 401k account and match it with money you use to buy the same percentages of stock as the 401k. I'll bet you that the stock you bought that matched your 401k will make you more money..

But you don't have the same tax advantage

And if you buy the same stocks inside of a Roth you have a lot more tax advantages

 

[Coldworld]

But you don't have the same tax advantage

And if you buy the same stocks inside of a Roth you have a lot more tax advantages

Never knew you could go into the 401k account online and look up the individual stocks that they split your money into…

 

[IVE GOTTA PACKAGE 4U]

Never knew you could go into the 401k account online and look up the individual stocks that they split your money into…

You can do a self manager account if you want to

 

[Coldworld]

You can do a self manager account if you want to

That is through Prudential??

 

[IVE GOTTA PACKAGE 4U]

That is through Prudential??

Yes you can open self manage account up but their fees are a little bit expensive

I only buy individual stocks through my Roth IRA

 

[Ou812fu]

But you don't have the same tax advantage

And if you buy the same stocks inside of a Roth you have a lot more tax advantages

What I am saying is. You'll find out that there are hidden fee's / cutting a percentage off of the top..

 

[IVE GOTTA PACKAGE 4U]

What I am saying is. You'll find out that there are hidden fee's / cutting a percentage off of the top..

Nothing is for free.
But the fees on our 401k plan is very very minimal

 

[Ou812fu]

What I am saying is. You'll find out that there are hidden fee's / cutting a percentage off of the top..

But you don't have the same tax advantage

And if you buy the same stocks inside of a Roth you have a lot more tax advantages

I have an uncle that got busted back in the day for this very thing. He told me that is the best way to catch people with their hands in the bucket..

 

[IVE GOTTA PACKAGE 4U]

I have an uncle that got busted back in the day for this very thing. He told me that is the best way to catch people with their hands in the bucket..

Nothing wrong with buying stocks in a Roth IRA

 

[burrheadd]

You can cash out a 401k whenever you want,

Not true
Must be for specific reasons before 59.5

 

[DriverNerd]

Not true
Must be for specific reasons before 59.5

No, you can cash it out anytime you want. You have to pay a penalty on top of paying taxes so it's a really stupid thing to do, but you can do it.

 

[burrheadd]

No, you can cash it out anytime you want. You have to pay a penalty on top of paying taxes so it's a really stupid thing to do, but you can do it.

You better read the fine print

 

[Frank888]

Interesting! I understand that the maximum amount of my paycheck that I contribute each week is 35%. Is the maximum amount that UPS contributes each week also 35%? Also, my understanding is that the account is 100% vested which means that they can't take away their contributions if I leave early.

 

[Frank888]

Any recommendations on ETFs to invest in? My visceral reaction is to go 75% S & P and 25% Internationai.

 

[DriverNerd]

Interesting! I understand that the maximum amount of my paycheck that I contribute each week is 35%. Is the maximum amount that UPS contributes each week also 35%? Also, my understanding is that the account is 100% vested which means that they can't take away their contributions if I leave early.

Are you a union member or a supervisor? The UPS Teamster 401k does not have a company match.

 

[burrheadd]

Interesting! I understand that the maximum amount of my paycheck that I contribute each week is 35%. Is the maximum amount that UPS contributes each week also 35%? Also, my understanding is that the account is 100% vested which means that they can't take away their contributions if I leave early.

Ups don’t contribute if your talking 401k you’re on your own to fund that

 

[DELACROIX]

Are you a union member or a supervisor? The UPS Teamster 401k does not have a company match.

Ups don’t contribute if your talking 401k you’re on your own to fund that

@Frank888 is management... Union Free employees have a matched 401k, bargaining unit employees do not.

If he is Union ... he is misinformed...

 

[Frank888]

Definetly disapointed that there is a 0% match. Other companies contribute in the 2 - 6% range.