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FedEx Freight | NLRB Ruling

Redracer3136 said:
Why scratch the 401K? I've made a substantial amount of money off of my 401K already....although I currently have 99% in high risk! I understand I can lose as much as I make but I can also say I'm doing quite well...my 401K will pay more than a pension ever could, plus, where else can you get basically 50% interest on your investment?
If I retired at 65, lived till I was 95, and drew $3000 a month from a pension for those 30 years of retirement, my payout would only be $1,080,000. My 401K is currently projected to triple that by the time I hit retirement age!!! I understand those numbers could vary depending on the market but those projected numbers are considered an average, could be a little less, could be a little more!
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Projected is the key word. Listen my friend. My sister only had a 401K as her retirement income from her employer. She has seen 3 stock market hiccups and is still working at the ripe old age of 67. What do you have in you 401K now? Roughly? Half a mil? What's your age? I have one too bro. It isn't designed to be a sole means of retirement income! I have the 401K through the Teamsters National Plan. I have personal investments. I have my pension.....And if the government doesn't screw us, I have SS benefits on top of that. I have never figured my 401K into the mix. EVER! That is just a bonus to me.
 
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Redracer3136 said:
Why scratch the 401K? I've made a substantial amount of money off of my 401K already....although I currently have 99% in high risk! I understand I can lose as much as I make but I can also say I'm doing quite well...my 401K will pay more than a pension ever could, plus, where else can you get basically 50% interest on your investment?
If I retired at 65, lived till I was 95, and drew $3000 a month from a pension for those 30 years of retirement, my payout would only be $1,080,000. My 401K is currently projected to triple that by the time I hit retirement age!!! I understand those numbers could vary depending on the market but those projected numbers are considered an average, could be a little less, could be a little more!
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Here is another news flash for you dude. WSPT members can retire early ( long before standard retirement age) with no penalty under the PEER program. Age and years of service. Early 50's and moving on with a check in the mailbox every month.
 
citydog said:
From what I understand freight is completely different all together can't even use parcel as example.
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No, not as an exact comparison but for reference. There is no way those guys in freight are heading into the sunset with less than $3 k in their hip pockets.
 
222lifer said:
Projected is the key word. Listen my friend. My sister only had a 401K as her retirement income from her employer. She has seen 3 stock market hiccups and is still working at the ripe old age of 67. What do you have in you 401K now? Roughly? Half a mil? What's your age? I have one too bro. It isn't designed to be a sole means of retirement income! I have the 401K through the Teamsters National Plan. I have personal investments. I have my pension.....And if the government doesn't screw us, I have SS benefits on top of that. I have never figured my 401K into the mix. EVER! That is just a bonus to me.
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I hate that for your sister.
Yes, projected is what it is but again, that's an average number. I did say I have 99% in high risk because I can afford to.
With my investments in the stock market, back in '97 during the middle of the dot com boom, I had a 76% ROI for the YEAR and when the market crashed in 2008 I lost over $70K. It comes and goes but trust me, it comes a lot more than it goes!!
As far retirement, no I don't rely solely on my 401K, nor do I count on anything out of SS. The pension we currently have is just a bonus for me.
We've, my wife and I, have made plenty of other investments that are currently doing as good, if not better, than my 401K. My 3 daughter's college funds are secured, we own zero credit cards, my debts are paid other than our new house (which will be paid for in less than 10 years), and other than the mortgage, we live debt free....and all of this at the ripe ole age of 43!
All of this has been done with my hard work through the non-union employment that's been provided for me by AF/FedEx Freight!
And yes, I do plan to retire at 55.
 
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222lifer said:
Here is another news flash for you dude. WSPT members can retire early ( long before standard retirement age) with no penalty under the PEER program. Age and years of service. Early 50's and moving on with a check in the mailbox every month.
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For you maybe. If we WERE to join the union, that option wouldn't be there for many of us that's already been there 15+ years!
 
Redracer3136 said:
I hate that for your sister.
Yes, projected is what it is but again, that's an average number. I did say I have 99% in high risk because I can afford to.
With my investments in the stock market, back in '97 during the middle of the dot com boom, I had a 76% ROI for the YEAR and when the market crashed in 2008 I lost over $70K. It comes and goes but trust me, it comes a lot more than it goes!!
As far retirement, no I don't rely solely on my 401K, nor do I count on anything out of SS. The pension we currently have is just a bonus for me.
We've, my wife and I, have made plenty of other investments that are currently doing as good, if not better, than my 401K. My 3 daughter's college funds are secured, we own zero credit cards, my debts are paid other than our new house (which will be paid for in less than 10 years), and other than the mortgage, we live debt free....and all of this at the ripe ole age of 43!
All of this has been done with my hard work through the non-union employment that's been provided for me by AF/FedEx Freight!
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Interesting, you didn't have some real time figures so we could show just how long your money would last?
 
Redracer3136 said:
For you maybe. If we WERE to join the union, that option wouldn't be there for many of us that's already been there 15+ years!
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You know that for certain? Does that come from the same place you derived your information on fully funded pensions and the provisions in the latest legislation?
 
222lifer said:
You know that for certain? Does that come from the same place you derived your information on fully funded pensions and the provisions in the latest legislation?
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Yes, the company nor the union would EVER agree to grandfather EVERYONE in to a pension plan for years already served...and if you think they would then you're just as delusional as those guys that are 65 that voted yes!
 
Redracer3136 said:
That's private info between my wife, myself, and my financial advisor....We know how long our money will last!
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Kinda what I thought. Poof, up in smoke again. I can tell you exactly how long mine will last. I will retire within the next two years from this company. I will draw that check every month every year for the next 30 or so (God willing) I will not have to touch my 401K or other investments unless an extreme emergency arises. I will have top tier health care for my wife and I. All of this provided me by my employers of the last 35 years. The majority union.
 
Redracer3136 said:
Yes, the company nor the union would EVER agree to grandfather EVERYONE in to a pension plan for years already served...and if you think they would then you're just as delusional as those guys that are 65 that voted yes!
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Interesting. You know that for certain? You feel that those participants would lose those benefits then?
 
222lifer said:
Interesting. You know that for certain? You feel that those participants would lose those benefits then?
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Again, we have drivers here who have 30 years already, are you certain that if the union WERE to come in, those guys could immediately retire with 30 years in a union pension?
I didn't think so!
 
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