Well Root Access my cardboard house is 2800sqf 4 bdrs and an office plus a 3 car garage on a 10,000 sqf lot it coast me 200.000 to have bulit 9 years ago and a hot tub in the back yard too.My neighbor house is on the market 375.000.Whats your shanty like? or are you still in that trailer park.
FedEx Freight | Pension for Fed Ex Frt.
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waterskier
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We did not exactly dump the pension. Those of us that have it will keep it. There will not be any more people getting into it though. Our pension is based on years of service times an average of the best five years salary out of the last ten years worked times a multiply. At the beginning of the new year our years of service will be stopped but the salary will still grow.
BusterNite
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I like the Idea of having both a pension and 401K. I have had a 401K for over 25 years now and have found that moving it around is good if you pay close attention to the market. But diversity is key.Smokestack said:
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Welcome ''Waterskier'' thanks for jumping in.
Root Access
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top cat said:
Hey buddy dont get so defensive, YOU'RE the one who said you had a $350.00 house. I wasn't knocking you just wanted to know what type of house it was for $350.00.
What's my shanty like? It's not bad I put some new wheels on it last summer and added a deck built out of old 2 x 4's and I hope to have indoor plumbing by next summer if everything works out good and I get a nice raise. I am sure I will never reach your level because afterall hot tubs are just unheard of unless you are living the high life like yourself. I can only imagine of having all those things and I sure wish my neighbors house was for sale for $375,000.00 because that would mean I am better than others. Have a nice rich life my friend I need to go get some water from the ditch out back so I can wash the paper plates and plasticware we eat off of.
Root Access said:
Hey RA,
We have a 'swimin pool',, it used to be a cattle stock tank, got it for free cause it was rotted out, but some cheap tar picked up long side the road in summer fixed it... Just watin for the rain to fill it.... It is a little green, but hey, if its good enough for cows, its good enough for me and the little lady !!!! :boat:
401 is great pension is great the problem with the company matching is for guys like me just starting out with 2 kids and a new house new car after mortgage car payment daycare and every other bill i have its hard to contribute to the 401 i know as i gain equity and pay some of my debts off and kids go to school rather than daycare things will get easier and i could contribute to 401 atleast with the pension i don't have to contribute and still getting something put away for later in life.basicly long run 401 is nice because you can control what you put away but if you can't afford to put away matching nothing is nothingi'm not sure if i stated my points right therflu is starting to kick in and its a little hard to focus but i think i got it out right if not i'm sure i'll be bashed for it
Root Access
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14wheeler said:401 is great pension is great the problem with the company matching is for guys like me just starting out with 2 kids and a new house new car after mortgage car payment daycare and every other bill i have its hard to contribute to the 401 i know as i gain equity and pay some of my debts off and kids go to school rather than daycare things will get easier and i could contribute to 401 atleast with the pension i don't have to contribute and still getting something put away for later in life.basicly long run 401 is nice because you can control what you put away but if you can't afford to put away matching nothing is nothingi'm not sure if i stated my points right therflu is starting to kick in and its a little hard to focus but i think i got it out right if not i'm sure i'll be bashed for it
14wheeler, having all the bills and kids, etc is something you will always have and if you keep saying you will pay things off then contribute trust me when one bill is paid for another bill comes along. I know it seems like you wont be able to make it but trust me on what im going to tell you here.
If the company will match up to 6% then put at least 6% in and let it start working for you. Dont pass up the free money they are willing to give you. Once you go through a couple pays you wont even notice it's missing. You and your family will adjust to the difference in pay from the 6% that you would be missing. Life is to short to keep wating for something like this so get started now while you are healthy and able to work because your family will love you for it later down the road.
Root Access
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365Volare said:
LOL can we have the company picnic at your place next year? I would love to go swimming in that pool, man how I envy you!
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Ok you guys that was really some really funny
stuff but lets get back on the topic here.
Thanks for the laughs.
stuff but lets get back on the topic here.
Thanks for the laughs.
Try the 6% like Smoke suggested, it's pretax so the take home won't actually change 6%.14wheeler said:401 is great pension is great the problem with the company matching is for guys like me just starting out with 2 kids and a new house new car after mortgage car payment daycare and every other bill i have its hard to contribute to the 401 i know as i gain equity and pay some of my debts off and kids go to school rather than daycare things will get easier and i could contribute to 401 atleast with the pension i don't have to contribute and still getting something put away for later in life.basicly long run 401 is nice because you can control what you put away but if you can't afford to put away matching nothing is nothingi'm not sure if i stated my points right therflu is starting to kick in and its a little hard to focus but i think i got it out right if not i'm sure i'll be bashed for it
You can go to Vanguards website and run a calculator that will show you how much it will change, also you'll see how much your automatic 2.5% is doing and make changes to where it's allocated.
If you don't do the 6% your leaving 3% on the table every year. If you make 50k that's an additional 1500 a yr.
FM
roundabout
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Pension Vs 401
I too favor the 401. :USA:
I too favor the 401. :USA:
jumboshrimp
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I'm all for the 401k with a bigger match
Well gentalman like I said before you have to "money smart" I mite have some nice stuff but my wife works also.My kids were in day care and now they play soccer at $1000.00 a year pluse traveling expences.
If you cant handel money then stay at mom and dads house sit on the porch.We work hard for our money now it's time for the money to work hard for us DON'T YOU THINK!
If you cant handel money then stay at mom and dads house sit on the porch.We work hard for our money now it's time for the money to work hard for us DON'T YOU THINK!
As a former AF/FedEx Freight driver (and current Con-Way driver), I went to Con-Way because I got a late start in retirement savings. I wanted both the pension AND the 401K!
Now Con-Way has decided to do away with the pension for all new employees hired after June 30th, 2006. The pension remains for all employees hired before that date, and will continue to grow (albeit at a slower rate) until 2016 when it freezes...but because I've only been with them for 2 years my pension is hardly worth much and won't grow much either. They are making up for it in 401K increases and one-time "make-up" contributions, but I'm not sure it would be what I had hoped for when I had both the pension and 401K to look forward to. But then again the pension is never guaranteed to be there, especially in light of what has happened to other companies' pensions. Con-way's pension was strongly funded but they felt with the government re-structuring pension laws that the employee would not have any control over their money as they would with a 401K. I'm on the fence on this one...
Now Con-Way has decided to do away with the pension for all new employees hired after June 30th, 2006. The pension remains for all employees hired before that date, and will continue to grow (albeit at a slower rate) until 2016 when it freezes...but because I've only been with them for 2 years my pension is hardly worth much and won't grow much either. They are making up for it in 401K increases and one-time "make-up" contributions, but I'm not sure it would be what I had hoped for when I had both the pension and 401K to look forward to. But then again the pension is never guaranteed to be there, especially in light of what has happened to other companies' pensions. Con-way's pension was strongly funded but they felt with the government re-structuring pension laws that the employee would not have any control over their money as they would with a 401K. I'm on the fence on this one...
Smokestack said:
Con-way Inc. said on Tuesday it has revised its employee pension plan to preserve existing pensions and boost its 401(k) employee savings accounts.
As of the end of 2006, no new employees will be able to join the company's existing pension plan. Con-way will also double its matching contribution for employees' 401(k) accounts.
The company said the new plan would reduce the company's exposure to pension cost volatility and make pension expenses easier to budget for (i.e; equipment purchases, terminal construction and expansion, IT upgrades, etc.)
Con-way added that the changes will result in a nominal increase in pension and retirement expenses in 2007, but should "moderate in future years."
The company said its contributions to the defined benefit pension plan for 2006 should total $75 million.