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FedEx Freight | Let’s define 401k retirement funds

Crazy Trucker said:
Amen brother who in the hell wants to take 10-15% from every paycheck to fund your own retirement.
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Crazy, I do think that FedEx can afford to give you guy's a much better pension, and I hope they do but I also believe that a 401k is also a great thing. The idea is to be able to maintain the same standard of living after you retire and you can do this by being debt free, having a healthy 401k and a nice pension on top of your social security at the time of retirement. I have been invested in a 401k for over 25 years and I have always had a pension through Overnite/UPSF. I started at only 1% withdrawal from my pay check 25 years ago. That was not even enough to notice coming out of my pay check but at least I started somewhere. Today I am at 15% and will continue until I retire. I expect to have half a million dollars in my 401k when I retire. Retirement is close for me and that will just add to my monthly pension payments. So in short, know matter how good of a pension you have, its wise to invest in a 401k. If you have a company match, take advantage of it.
 
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Ya better get a line on that cat food now so you can afford it at retirement later.
If your employer does not fund enough into your account now nobody is going to do it for you.
Crazy Trucker said:
Amen brother who in the hell wants to take 10-15% from every paycheck to fund your own retirement.
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BusterNite said:
Crazy, I do think that FedEx can afford to give you guy's a much better pension, and I hope they do but I also believe that a 401k is also a great thing. The idea is to be able to maintain the same standard of living after you retire and you can do this by being debt free, having a healthy 401k and a nice pension on top of your social security at the time of retirement. I have been invested in a 401k for over 25 years and I have always had a pension through Overnite/UPSF. I started at only 1% withdrawal from my pay check 25 years ago. That was not even enough to notice coming out of my pay check but at least I started somewhere. Today I am at 15% and will continue until I retire. I expect to have half a million dollars in my 401k when I retire. Retirement is close for me and that will just add to my monthly pension payments. So in short, know matter how good of a pension you have, its wise to invest in a 401k.
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Yes sir i agree it is important to have 401k, be nice if we had a good pension like u guys have.
 
Cab Lizzard said:
Ya better get a line on that cat food now so you can afford it at retirement later.
If your employer does not fund enough into your account now nobody is going to do it for you.
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Lol i never said i don't put money in my 401k i put 6% in. It would also be nice to have retirement set in stone like upsf has on top of that 401k.
 
Crazy Trucker said:
Amen brother who in the hell wants to take 10-15% from every paycheck to fund your own retirement.
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Now you've proven you're crazy. Who'd rather give the money to the government so they can give it to foreign countries who hate us. I pay myself first, by putting 15% in the 401 k. Then the government can steal some of my check....
 
silent trucker said:
Now you've proven you're crazy. Who'd rather give the money to the government so they can give it to foreign countries who hate us. I pay myself first, by putting 15% in the 401 k. Then the government can steal some of my check....
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Lol what does that matter your going to have to pay taxes on the money either now or later when u retire.
 
Crazy Trucker said:
Lol what does that matter your going to have to pay taxes on the money either now or later when u retire.
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This time I'm going to type real slow, then maybe you have a better understanding of the 401K and taxes. Your 401K money is taken out pretax, which means your gross is lower so you pay less taxes on the lower gross. Meanwhile if you take out at least 6% the company matches half of that. You retire with a lot more money than you could have saved on you own. Once you retire and start drawing your money out, your in a lower tax bracket because your not working anymore. Yes you pay taxes on the money, but at a lower rate. You do understand the concept of lower taxes? ST I think your beating a dead house.
 
Twice Pipes said:
This time I'm going to type real slow, then maybe you have a better understanding of the 401K and taxes. Your 401K money is taken out pretax, which means your gross is lower so you pay less taxes on the lower gross. Meanwhile if you take out at least 6% the company matches half of that. You retire with a lot more money than you could have saved on you own. Once you retire and start drawing your money out, your in a lower tax bracket because your not working anymore. Yes you pay taxes on the money, but at a lower rate. You do understand the concept of lower taxes? ST I think your beating a dead house.
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So are saying save and invest in a 401k so you pay a lower tax rate ? Because the hole in that theory is if you are making the same at retirement that you now chances are the tax rate will be higher or at least the same, That said I did exactly that and would recommend it.
 
When you retire, you quit working. You don't go back to the office. Now your making less money. You have your SS, Pension, and 401K. Its working for me right now.
 
Well my goal at retirement must be different from yours. My goal is to make the same amount or even more when I retire that being said I'm only 29 and put 10% into my 401k and have a good pension.
 
Twice Pipes said:
This time I'm going to type real slow, then maybe you have a better understanding of the 401K and taxes. Your 401K money is taken out pretax, which means your gross is lower so you pay less taxes on the lower gross. Meanwhile if you take out at least 6% the company matches half of that. You retire with a lot more money than you could have saved on you own. Once you retire and start drawing your money out, your in a lower tax bracket because your not working anymore. Yes you pay taxes on the money, but at a lower rate. You do understand the concept of lower taxes? ST I think your beating a dead house.
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My point is you still pay tax on it eventually even if it is at lower rate, hell u should know. When do I pay tax on a 401(k)? - Ultimate Guide to Retirement
 
Yep either before you put it into the 401k or when you pull it out of the 401k but a Roth 401k mathematically is the best option you pay the taxes now and then when you pull it out you only pay for the gains
 
Ok now the idiot in the big house wants to take control of our 401k and take taxes out of it now and only give you 4 percent return while he is colapsing the dollar so it wont be worth the paper its wrote on . He also is givining money to his radical friends who our killing Cristians so if you think that 401 k is going to be there you had better go join ISIS. He said in his book he would stand behind his Muslim friends when it turned on them so there you go Redistribution of your money for your own blood.
 
jake brake said:
Im glad you have a nicely funded 401k. Im pretty positive you worked at Fed ex National. So you worked in a great environment before. I believe you also are a linehaul driver. You don't understand that us city guys when ever possible are pushed back as close as they can get us to forty hours. If a lot of drivers make ot then they hire a bunch of new drivers to cut everyone back. Work on a 4 by and you you will starve at 37 hrs. What I don't understand is why you people feel that a large corporation such as this shouldn't reward us with a gainful retirement. The 401k is just a supplement. Why can UPS & UPS freight give there men a chance to retire with a nice pension and there company can still make billions in profits. Sounds like they have a good business model. They have a pension and a Teamster 401k they contribute too.
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Never saw a UPSER living under a bridge:1036316054:
 
Twice Pipes said:
I'm sorry if I scared anyone with the facts about our pension possibilities, I was wrong. I didn't realize our new pension will be negotiated just like UPSF.
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If you are 72 and retired, then what is this "our pension" thing you talk about ? I am so sorry. You probably forgot you are retired.
 
gr8times said:
If you are 72 and retired, then what is this "our pension" thing you talk about ? I am so sorry. You probably forgot you are retired.
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I didn't forget anything. Viking Freight now FXF had a pension plan. To qualify for the full pension you had to be 65 years old and have 30 years in the company. When I retired at 67 I filled out the pension paperwork choosing the plan I wanted. Sent it in and received my first pension check about 45 later.
 
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