i don't know what your problem is. people are retiring everyday with 1 to 2 million plus from a 401k. and your right the YRC 401k probably doesn't average 12%. but that's just one fund. also i said the market has averaged 12%. but there are thousands of different funds out there. they average anywhere from a negative to 30% or so. it all depends on how well the fund is managed and how the economy is doing. I don't think you understand how a pension works. let me give you a little lesson. a pension basically guarantees you will receive a set amount after so many years, right? well, the reason pensions are failing, is because no matter how good or bad the pension is managed, it has to pay you that guarantee amount to you. while our pension is handled well, and invested wisely, most are not. i really don't understand why you getting sooooooooooooo"AS YOU WOULD SAY" mad at me. its not hard to make a million in a 401k.
here's an example. lets say you make $60,000 a year. and you save 10% into a 401k, with NO employer match. and you average rate of return is 9% over 35 years. that's 1.3 million dollars. and you invested was $500 a month or $210,000 over 35 years. and that's considering you make $60,000 a year every year for 35 years. now you know you going to get raises. so 1.3 million is a very very conservative number.
my wives 403B last year returned 18%, this is looking more like 8%. that's a 13% average for 2 yrs. and you say you don't know anyone who retires on 401K's. well, where the hell have you been. there are more 401ks then pensions. pensions is a dying program. i'm not saying that's good or not. its just a fact. i'm just preparing just in case the pension goes under, stops or whatever. if its there when i retire, then great! i'm 30 yrs old. i will let you know when i get my million. do you wanna wait 20 or 25 years? also you make a million dollars sound like a a lot of money. it really isn't. if you retire at age 65, the average man lives till his early 80's, a woman lives into her late 80's. you got to make that 1 mil last 25 to 35 yrs.
can you not read dave? i know guys that retire on the teamster pension too. my grand dad, and dad. my grand dad retired in 81, his pension for 27 years is a little over $800 a month net. my dad's is a little over $2800 a month net, after 31 years. now my grand dad was smart, he invested on the side. that investment is now his main income, and the pension is extra money. my dad didn't invest. all he has is the pension. now my dad will be fine, his house is paid for, truck paid for, very little debt, and in a year he'll also have my mom's little pension of around $800 gross a month when she retires. and that $800 a month is after about 17 years with the local sheriff's office. buts all they both have. if they a put 8% to 10% away for that last 20 or 25 years, they be sittin even better.
so whats with the attitude? i'm not putting you down. i'm just giving my opinion. but i've done a lot more research than you. you argument is purely from emotion, mine is just facts. by the way, where my apology from you on your obama remark.
