401k Match

Discussion in 'XPO Logistics' started by sucker666, Jul 27, 2017.

  1. Trucker 206

    Trucker 206 Well-Known Member

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    Oh? So, the $14,000/year my company contributes to my pension is a non-issue? I don't know too many that would turn their back on that if given the chance.
     
  2. upnorth

    upnorth Super Moderator Staff Member

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    I'm speaking to the point that you should not rely on any entity to control your retirement, except yourself.
     
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  3. Bloodweiser

    Bloodweiser New Member

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    Throw your money in a shoebox and bury it in your back yard
     
  4. hotrodd

    hotrodd Active Member

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    You are so wright upnorth. I depended on my my pension from CSPF for 15 years and all the while I wasn't saving for retirement because I thought I had a great pension. Now I probably want get nothing from that when i do retire. I learned the hard way that pension is just a promise and promises are made to be broken.
     
  5. Bloodweiser

    Bloodweiser New Member

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  6. Bloodweiser

    Bloodweiser New Member

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    Going through life depending on 1 thing is setting yourself up for failure. I work with a guy who has a pension, 401, Roth and tin cans buried in his back yard full of $. If one of his retirement funds fails he still comes out on top in the end.
     
  7. Trucker 206

    Trucker 206 Well-Known Member

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    Absolutely! Thankfully, I've got three other 'irons in the fire' as far as income sources during retirement. Yeah, I could use that money for something fun like a boat, an RV or a Harley, but those 'ships' have sailed. The wife and I will be fine in retirement, and I wish the same for you.
     
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  8. Trucker 206

    Trucker 206 Well-Known Member

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    I actually had a great-grandfather who did that! Buried cash in Mason jars in his back yard.
     
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  9. Fly-by-night

    Fly-by-night Only when you care to send the very best

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    Wow the govt shutting down something that costing the taxpayer 70 million since 2014 and expected to cost 10 million a year to run. Here is a few quotes from it.
    "About 30,000 Americans have contributed a total $34 million to the program, called myRA, which launched in late 2014 as an option for households that didn’t have access to an employer-sponsored retirement plan, such as a 401k, the Treasury Department said. About 20,000 accounts have a median balance of $500, and the owners of 10,000 accounts made no contributions."
    "It has cost $70 million to manage the program — including server costs and promotion — which was likely to cost an additional $10 million annually"
     
  10. Fly-by-night

    Fly-by-night Only when you care to send the very best

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    is that 14k set aside just for you or are they using it to pay retirees with it now in the hope they will have money for you when you retire
     
  11. highspeeds

    highspeeds ENTERTAINMENT USE ONLY

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    $14K sounds like a lot of money until it's your only income. Well, that and maybe $24K a year from SS. Depending on how old you are, you might not have much faith in seeing any of that money.
     
  12. Trucker 206

    Trucker 206 Well-Known Member

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    I'm locked in...it'll be there. I'm in the Western Conference, which is well-funded. I have 3 additional income sources (thank God!) when I retire, culminating in SS when I'm 67, or earlier should I decide to draw on it earlier. We'll be okay. Not an extravagant retirement, but comfortable.
     
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  13. Trucker 206

    Trucker 206 Well-Known Member

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    $14,000 is the amount paid into the pension FOR me annually. I've been in almost 25 years. Each year I work from this point will add approximately $250 to my monthly benefit. There's a bunch of options they offer as far as disbursement goes. I had no idea there were so many ways you could choose from. I've got LOTS of reading to do!
     
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  14. highspeeds

    highspeeds ENTERTAINMENT USE ONLY

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    Sounds good on your pension. How confident are you in the SS being there when the time comes ?
     
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  15. icuicp

    icuicp Well-Known Member

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    It will be there. But there will be so many ( impossible? ) requirements that it will be nearly unobtainable. 70 years old to collect will turn into 90.
    And if you have too much money in an IRA or 401k or any other retirement account you won't be eligible for Social Security.
     
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  16. guitarman1

    guitarman1 Active Member

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    Thats fair, Take away from the people that sacrificed by saving for their retirement...
     
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  17. Fly-by-night

    Fly-by-night Only when you care to send the very best

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    That's democrat thinking. The one that sit around and does nothing should get just as much as you do even though you bust your ass
     
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  18. icuicp

    icuicp Well-Known Member

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    I'm guessing that guitarman was being sarcastic - at least I hope so.
     
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  19. Trucker 206

    Trucker 206 Well-Known Member

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    Fairly confident. I'm not too far away. Last I heard, the fund was solvent through 2037.
     
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  20. icuicp

    icuicp Well-Known Member

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    Do dockworkers get access to a 401k Plan? If so , how much of a match does the company give them?
     
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