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SinC said:
I didn't dispute that the money was "credited" to you.. What I said and I'll try again a different way - is:
A 401K account is an account set up in your name - your money goes in - ONLY your money. This account follows you everywhere you go because it's yours.
A pension fund - is a FUND - not an account. It works by putting everyone's money into ONE FUND - no "mine" and "yours" - then their is a 'ledger' that states what you will get when you retire.....

Again - my point - the FUND goes belly up - you are getting a pension from and 'insurance' set up by the government? - Trukinus understands this part way better than I.....

The 401k is yours to manage or mismanage as you see fit.... it's YOUR money...


Does that help?
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I can agree of most of what you said. I have met people who are so misinformed they don't even realize your pension is part of your wage structure. very frustrating. Your not one of those people.
 
SinC said:
AGREED!!

That is some Perfect world... how do you turn 324,000 INTO 648,000 over the course of 25 years WHILE taking out against the principal? Answer - you don't... pension funds depend on early death....

While not everyone lives 20 years after retirement... I would don't want someone betting that I'm not going to make it 10 years past retirement either.
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At $1100 per month with a generous 5% compounded interest rate over the 25 years will leave you with a little over $650,000. Yes, the funds don't count on you living for 20 years after retirement, that's a sad fact. A lot of people in this industry are very lucky to even draw a pension check before death, the longer you live after retirement, the more the principal is depleted.
 
If they work out some kind of deal when I retire in 8 years I'm going to walk and drink water everyday, live for 50 years after retirement raising plent of hell on trucking boards on my laptop from the old folks home
 
Doubleclutcher said:
At $1100 per month with a generous 5% compounded interest rate over the 25 years will leave you with a little over $650,000. Yes, the funds don't count on you living for 20 years after retirement, that's a sad fact. A lot of people in this industry are very lucky to even draw a pension check before death, the longer you live after retirement, the more the principal is depleted.
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NO math please - my brain hurts... I'll figure that out tomorrow... or the next day ;)
 
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