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runawaytrain said:
I learned long ago about this thing called humility ... Over the years I never made the mistake of borrowing against my 401K's and always rolled them over into an IRA ... After my home was paid for I continued to contribute ... I don't live large ... I could, but I don't ... I don't drive fancy cars ... I could, but I don't ... I'm grateful for everything I've been blessed with ... Especially my health... Because without that you have nothing... Money can't buy you one second when your time comes... I encourage everyone to find humility ... And remember .. True nobility is not about being better than the next guy... It's about you being better than you use to be... A better husband... A better Father ... A better human being.
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Let me add to this ... If you like the idea of keeping life simple in retirement a Roth IRA can help ... just take your money out as you need it. And you won't have to worry about paying taxes because Roth IRA withdrawals are tax free. Of course, you won't avoid taxes on money you put away in a Roth IRA. That's because Roth contributions are made with after-tax dollars.... But as long as you meet requirements, you'll never pay taxes on your Roth IRA earnings. Everyone is different and each case is different .... So many on here are so busy trying to compare one with the other ... I don't knock a man and his pension but many on here are very intent on knocking me and the direction I chose to go ... Especially on the Conway forum .... And the Teamsters just love ripping my choices ... But let me assure you with what I have in my IRA I will never have to worry about money in my retirement years. And I most certainly can do better than a 3500. month pension. But if they feel better by telling me what a better deal they have ... Well, so be it ... I have to pick my battles on here ... And this is one battle I chose not to fight any longer.
 
Honestly, I don't knock on union guys, and at times I'm sympathetic to their beliefs, however, the one topic that grinds my gears is pensions. Maybe this is mostly out of the guys from the Northeast, I don't know. But crying and moaning about your pension should be low on the priority list. I know this is mostly from guys who are nearing retirement, but if they are unionizing in order to get better pensions or save them, it sounds crazy to me. People are aware that pensions are dying right? Companies don't want to use them anymore. Even the automotive unions are moving away from them (correct me if I'm wrong).

I just had to get that off my chest. Hats off to those that offer pensions. My old company offered $100 per month per year of service at the end of their career, and that's why they had so many guys staying 20, 30, 40+ years. It was great, but very rare nowadays, especially for a non-union company (in Texas it isn't union). But like train does, prepare yourself, take control of your own future. NEVER become dependent. That's what they want!
 
mlang216 said:
Honestly, I don't knock on union guys, and at times I'm sympathetic to their beliefs, however, the one topic that grinds my gears is pensions. Maybe this is mostly out of the guys from the Northeast, I don't know. But crying and moaning about your pension should be low on the priority list. I know this is mostly from guys who are nearing retirement, but if they are unionizing in order to get better pensions or save them, it sounds crazy to me. People are aware that pensions are dying right? Companies don't want to use them anymore. Even the automotive unions are moving away from them (correct me if I'm wrong).

I just had to get that off my chest. Hats off to those that offer pensions. My old company offered $100 per month per year of service at the end of their career, and that's why they had so many guys staying 20, 30, 40+ years. It was great, but very rare nowadays, especially for a non-union company (in Texas it isn't union). But like train does, prepare yourself, take control of your own future. NEVER become dependent. That's what they want!
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I would say you are right .... But the Pro's will say your not ... So I will simply say this ..... Get out of debt .... The most important thing is to get that house paid for by making sacrifices .... No credit card debt ....No car or truck payments .. Drive that old beater until the wheels fall off .....And then buy another pre-owned after doing your research ... 30-40K or even more on a new truck or car is insane ... You don't need that status symbol .... Well, at least I don't. ... Experts say you need 500K to retire and some say more ... You don't need anywhere near that in my opinion ... When I retire at 62 in 3 years my wife will cover me on her healthcare plan until she retires .... She is 7 years younger than me .... When I become eligible for Medicare I will take a supplemental ... I have a financial advisor that has directed me from day one ... But actually a little common sense is all it takes .... Learning to live within your means is all it really takes....As my mentor Dave Ramsey says.... Let the paid off home mortgage take the place of the BMW as the status symbol in America.
 
runawaytrain said:
I would say you are right .... But the Pro's will say your not ... So I will simply say this ..... Get out of debt .... The most important thing is to get that house paid for by making sacrifices .... No credit card debt ....No car or truck payments .. Drive that old beater until the wheels fall off .....And then buy another pre-owned after doing your research ... 30-40K or even more on a new truck or car is insane ... You don't need that status symbol .... Well, at least I don't. ... Experts say you need 500K to retire and some say more ... You don't need anywhere near that in my opinion ... When I retire at 62 in 3 years my wife will cover me on her healthcare plan until she retires .... She is 7 years younger than me .... When I become eligible for Medicare I will take a supplemental ... I have a financial advisor that has directed me from day one ... But actually a little common sense is all it takes .... Learning to live within your means is all it really takes....As my mentor Dave Ramsey says.... Let the paid off home mortgage take the place of the BMW as the status symbol in America.
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Ramsey is the man. I've not done his program, but have looked over it and think it's a great way to reverse all the bad spending/debt habits people have.

I don't have car payments and am working on getting the wife's student loans paid off. Once they are gone, I could honestly live comfortably on $40,000 a year. The rest goes straight towards paying the house off and saving.
 
PistonRing83 said:
Ramsey is the man. I've not done his program, but have looked over it and think it's a great way to reverse all the bad spending/debt habits people have.

I don't have car payments and am working on getting the wife's student loans paid off. Once they are gone, I could honestly live comfortably on $40,000 a year. The rest goes straight towards paying the house off and saving.
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What's crazy is he is teaching common sense! We are so far removed from what is truly important, we don't even recognize common sense! Haha
 
Dracula said:
can you be a little more specific? How much per hour and What happens to the money that the company pays into the pension and what kind of control do you have over it. What happens to the excess amount if you should pass away? C'mon don't be shy. Tell us that you are not counting on social security to be there for you. Tell us what guarantees that the New England pension has given you so that you are not worried about it being there for the next 40 years?
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Defined benefits cannot be reduced., after retirement.
 
Not much more to talk about,Union v/s non.I have what ,I have because of a contract. That on my own would never happen..Thanks to the teamsters.They get theirs and I get mine.Thanks for your replys.I respect yours That you can negotiate your own deals with management. I choose not too.
 
runawaytrain said:
Can my pension be reduced? - 1 He's got PBGC ... He's good.... Keep in mind this article is from 2008 .... But the law is still the same.... I'm sure the boss has an IRA or other investments because it could get tight with just a pension and Social Security.[/QU I don't worry about losing my pension to the PBGC they pay out a max of 1250 a month when that is broke the government has no plans to fix this that's why we voted for give backs company still liable for pension liability. Unlike UPS who paid 1.3 billion withdrawal liability .My fund unlike central states is in better shape then all of the 32 other teamster funds in the country, We didn't loan out money to the mob to build Vegas.What did Manny Moroun do with all your retirement funds from central transport, but another bridge.
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roadboss said:
runawaytrain said:
Can my pension be reduced? - 1 He's got PBGC ... He's good.... Keep in mind this article is from 2008 .... But the law is still the same.... I'm sure the boss has an IRA or other investments because it could get tight with just a pension and Social Security.[/QU I don't worry about losing my pension to the PBGC they pay out a max of 1250 a month when that is broke the government has no plans to fix this that's why we voted for give backs company still liable for pension liability. Unlike UPS who paid 1.3 billion withdrawal liability .My fund unlike central states is in better shape then all of the 32 other teamster funds in the country, We didn't loan out money to the mob to build Vegas.What did Manny Moroun do with all your retirement funds from central transport, but another bridge.
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Don't get me started on that worthless POS.... As a Moderator I must remain civil and that man would send me right over the edge... Pure evil... That's all I can say about that greedy family.
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runawaytrain said:
roadboss said:
Don't get me started on that worthless POS.... As a Moderator I must remain civil and that man would send me right over the edge... Pure evil... That's all I can say about that greedy family.
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Well that price of garbage had a uninsured contract untill 1999 he ceased operations.Then restarted again.I can talk hours about Manny, He's exactly what you say he is ,already know that.This why we don't trust many companies, there words are hollow.There was a day when a man s word meant something, These young guys will sell thier soul for a buck,This is what I mean.!!!!!!You may be in control of your destiny but not of others .Please be open minded Have a nice evening.
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roadboss said:
runawaytrain said:
Well that price of garbage had a uninsured contract untill 1999 he ceased operations.Then restarted again.I can talk hours about Manny, He's exactly what you say he is ,already know that.This why we don't trust many companies, there words are hollow.There was a day when a man s word meant something, These young guys will sell thier soul for a buck,This is what I mean.!!!!!!You may be in control of your destiny but not of others .Please be open minded Have a nice evening.
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I once was a young man so I understand what you are saying ... I will keep an open mind .... I treat others the way they treat me .... If they treat me fair then I will treat them fair .... Saia has treated me fair ... They haven't promised anything and then taken it back. They have been straight up with me ... Conway is a different story ... I chose to stand down on their forum ... The same with FedEx .... I have no vested interest ... I don't work there ... So as I move forward from today I will concern myself only with Saia and will only enforce the rules on the other forums .... From my perspective our compensation is competitive ... We are treated with respect ... And have a working environment that is safe and predictable. I see no need for a union ... I hope the majority of my co-workers feel the same .. I believe our leadership is moving in the right direction. Perhaps some companies would be better served with a union .. Saia is not one of them at least in my opinion.
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runawaytrain said:
I learned long ago about this thing called humility ... Over the years I never made the mistake of borrowing against my 401K's and always rolled them over into an IRA ... After my home was paid for I continued to contribute ... I don't live large ... I could, but I don't ... I don't drive fancy cars ... I could, but I don't ... I'm grateful for everything I've been blessed with ... Especially my health... Because without that you have nothing... Money can't buy you one second when your time comes... I encourage everyone to find humility ... And remember .. True nobility is not about being better than the next guy... It's about you being better than you use to be... A better husband... A better Father ... A better human being.
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http://finance.yahoo.com/news/roll-over-401-k-4-140000671.html
 
Thank you for honesty train .You treat others as they treat you I admire and totally respect that.We as Good Christians need to remember this .
 
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