Teamsters 401k ?

[Coldworld]

Did you put money away in your 401k?Did you put money away in your 401k?

Settle down Peters Jr...

 

[Coldworld]

We have one guy that won't retire because his ex-wife will get 10% of his pension

I told him it's cheaper than the survivorship option

10% is getting off cheap IMO!

 

[Staydryitsraining]

That’s one bitter, dude. She must’ve been banging the postman.

We oddly have a guy here who's wife cheated on him with a mail man.

 

[Over70irregs]

Taxes will be higher and purchasing power down also later on. But doing something is better than nothing. Stay healthy

 

[IVE GOTTA PACKAGE 4U]

10% is getting off cheap IMO!

I don't think they was married that long.

 

[DOK]

Why do Union employees do the teamsters 401K when there's no matching? There are many other options that are better. Is this because of lack of financial knowledge?

Another topic for discussion, would you rather have an employer matched 401k ( let’s say 6-9%) or a teamster pension?

 

[DOK]

The returns were amazing but you were limited by a very small amount you can put in. I can’t remember wasn’t it like less than $10 a week?

Thought it was like $2-3 but could be wrong

 

[UnionStrong]

The returns were amazing but you were limited by a very small amount you can put in. I can’t remember wasn’t it like less than $10 a week?

6 bucks, they match it. Total 12

 

[UnionStrong]

Thought it was like $2-3 but could be wrong

6 with a match from UPS

 

[vmgr152]

Another topic for discussion, would you rather have an employer matched 401k ( let’s say 6-9%) or a teamster pension?

I would take the pension only if it was managed right. I would rather a Roth IRA or 401k.

 

[DOK]

6 with a match from UPS

Wonder what that would be in todays dollars?

 

[IVE GOTTA PACKAGE 4U]

Wonder what that would be in todays dollars?

I just remember when I was a rookie the old-timers told me after 30 years they had a hundred thousand dollars by investing $6 dollars a week

 

[Thebrownblob]

I just remember when I was a rookie the old-timers told me after 30 years they had a hundred thousand dollars by investing $6 dollars a week

Yep, it had some really big returns

 

[IVE GOTTA PACKAGE 4U]

Yep, it had some really big returns

You can blame the IRS for that

They said the plan was illegal but then a few years later ruled there was nothing wrong with it

 

[Thebrownblob]

You can blame the IRS for that

They said the plan was illegal but then a few years later ruled there was nothing wrong with it

I don’t think I ever knew that, typical BS government

 

[IVE GOTTA PACKAGE 4U]

I don’t think I ever knew that

Now you know

It's BS.

I could have had an extra little pile of cash

 

[Thebrownblob]

Now you know

It's BS.

I could have had an extra little pile of cash

Like I said, I wasn’t in it very long, but I actually had a decent chunk of change for as little as I put when I cashed out.

 

[IVE GOTTA PACKAGE 4U]

Like I said, I wasn’t in it very long, but I actually had a decent chunk of change for as little as I put when I cashed out.

Same here.

 

[Over70irregs]

1970: 20+ hrs of work = one S&P 500 share
2024: 240+ hrs of work = one S&P 500 share

10x the effort. Same reward.

 

[Wally]

1970: 20+ hrs of work = one S&P 500 share
2024: 240+ hrs of work = one S&P 500 share

10x the effort. Same reward.

So where does one invest the 2024's -240 hours of work moola if not in the S&P?