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ABF | ABF 401K Converting to Teamsters-National 401K Savings Plan

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Actually, my example was geared more toward somebody who says you are better off not paying off your house, even if you have the cash to do so, in order to keep the deduction.

But in my experience, the people that say that don't have the money to pay it off anyway.
 
RickyRicardo said:
I have the house, too. Maybe I should have clarified what I meant by good or bad debt. I just don't believe the words "good" and "debt" should ever be used together.

It feels good to be rid of obligations.

I'm freaked out whenever I talk to a driver in his 60s who has started a five year car loan(or two in one case, his wife apparently needed one too). What are they thinking?
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I have a new car loan for my Wife's car (I drive a 1987). My job takes me 1600 miles away from home while she drives herself, her 92 year old Mom, and our two Grandchildren around in below zero weather. I took out the 5 year loan, and currently am on pace to pay it off in under 3 years. I don't like it, but she drives 30,000 miles a year, and I don't want her in the old cars I drive. The higher cost newer cars brought me peace of mind that the gals won't be stranded and freeze to death. Am i happy? not necessarily, but I'm realistic, and I can afford it. So far- People are Dying for me to work (I haul caskets....)
 
jimmy g said:
I have a new car loan for my Wife's car (I drive a 1987). My job takes me 1600 miles away from home while she drives herself, her 92 year old Mom, and our two Grandchildren around in below zero weather. I took out the 5 year loan, and currently am on pace to pay it off in under 3 years. I don't like it, but she drives 30,000 miles a year, and I don't want her in the old cars I drive. The higher cost newer cars brought me peace of mind that the gals won't be stranded and freeze to death. Am i happy? not necessarily, but I'm realistic, and I can afford it. So far- People are Dying for me to work (I haul caskets....)
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I would do the same thing. My wife is disabled and doesn't drive and I financed a new vehicle for my daughter living with us so I would have more peace of mind while on the road.

My situation has changed now, with me living 3 miles from the yard and home pretty regular so I get by with older vehicles.

Btw, granite headstones are a big business not far from me, in Elberton, GA
 
Happy Thanksgiving , The expense fees of Teamsters 401k Funds are not out line ,we been paying those fees, no matter who been running the fund. It cost ABF fees to have a 401k in your name and if its a load or no load fund.
 
Double Barrel said:
Happy Thanksgiving , The expense fees of Teamsters 401k Funds are not out line ,we been paying those fees, no matter who been running the fund. It cost ABF fees to have a 401k in your name and if its a load or no load fund.
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the expense ratio for the purdential fund that is comparable to my transamerica fund is 1.08 vs .18 in the transamerica fund . this is a 400% increace. THIS IS OUT OF LINE.!
 
Sorry to hear that the like fund expense is that high. Paying more fees doesn't guarantee a better return. There is a Vanguard fund at .07% or the S&P Index fund at .32 %.
 
It's great to see that worker's are very wise on saving in a 401k, Bonds are very weak right now and if I were to put money in a target fund I would lean to one heavy into stocks. I'm still looking for double digit growth on the funds. Lean heavy on growth or index funds.
 
This is my favorite investment that has consistently out performed everything else I have. It is a Growth & Income Fund that has averaged 17.36% over the last five years.
Dreyfus Opportunistic Midcap Value A (DMCVX)
 
If you are unsure of yourself with starting out in a 401K a good place to start investing is in a fund that is listed as around the year you want to retire. Then pay attention to other funds and see what's right for you. Just don't sit back and say I need to know more, I'll start saving tomorrow. The sooner you start the better it is for you.
 
Roadrunner73 said:
If you are unsure of yourself with starting out in a 401K a good place to start investing is in a fund that is listed as around the year you want to retire. Then pay attention to other funds and see what's right for you. Just don't sit back and say I need to know more, I'll start saving tomorrow. The sooner you start the better it is for you.
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I wish I had gotten serious about it much sooner but it's never too late. I remember being young and nobody could tell me anything.

My account is evenly divided among five funds, one of them is overseas investment. I mentioned the one above as my favorite and have been tempted to move some others into that one, but resisting that in order to stay diversified.

The smartest person in the world can't predict the future. Not likely, but that one could slip tomorrow and one of the others could move up so I'm leaving well enough alone.
 
But those targeted retirement funds are the worst for the fees with that Teamsters 401k.
 
All funds charge an expense fee. The statement that you receive on the 401k willl just show the gain or loss in that quarter,but an expense fee was taken out on the fund. My experience is if a fund is dog and doesn't perform well, close it out and put the money into the better funds you have. I can be diversified with two funds.
 
Double Barrel said:
All funds charge an expense fee. The statement that you receive on the 401k willl just show the gain or loss in that quarter,but an expense fee was taken out on the fund.
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Apparently my company is paying this for I have never seen one (charge). I can check my account anytime online reflecting daily changes. My monthly statement shows the company profit sharing contribution, which is also reflected in the day to day current balance.

My privately held account ( Wells Fargo, formerly A G Edwards) sends me a bill clearly stating the fees.
 
Is it possible that these fees are taken out of the Fund(s) before reporting increase or decrease in value? When a Fund has fees we pay them, not the company.
 
ABFer said:
Is it possible that these fees are taken out of the Fund(s) before reporting increase or decrease in value? When a Fund has fees we pay them, not the company.
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I suppose that's possible but I thought there would be some sort of disclosure. Something to think about, not that I could do anything about it anyway.
 
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