Reddaway | Sacramento Decertify?

[Stoney]

stoney,

I have no idea what funds you are reffering to in YRC's 401k plan. I'm sure the funds you mention are for non bargaining unit employees, since Teamster members are relagated to the Teamsters 401k plan. Last year the Teamsters 401k had a very good aggressive fund that I put everything into and realized a 28% return for ther year. Today, that fund has been changed somewhat and is losing over 13%, a 41% swing in the opposite direction. After losing $10,000 in the first 3 months of this year, I changed into a stable fund returning 1.31%. This is one of 2 funds available right now in the Teamster 401k returning any money. With 10 funds to choose from, half are returning 12% losses or more, 2 are positive,(1.31% & 0.76%), and the others are down roughly 6%. While I worked for Preston, we had our own 401k plan. I put heavily into the George Putnam funds which made me a killing back in the dot com days. That fund was returning 51%. However, like all markets, when they go down, they go down. I lost $80,000 when the dot coms crashed. So, even though I believed the myth of being a millionare by retirement, you can see how losing $90,000 over 20 years has changed the future of my 401k balance. Right now, I am sitting around $50,000 and with no contributions made since last year when I was injured, and with only 5 or 6 years to go before I retire (if my surgery allows me to return to work), I will be very fortunate to realize a 401k balance near $200,000. Mind you that when I contribute, I put 15% pretax and 5% after tax for a 20% contribution each week.

i don't know either. that dave guy said he knew of a YRC fund returning 6%. i said he may be right, i didn't have any info on that particular fund. my point was just because 1 fund may be doing bad doesn't mean all funds are like that. thank you for informing me.
also i never said investing in a 401k was 100% safe. i realize you lost money from dot.com bust. but a couple of bad years doesn't mean you stop investing. every fund will go down over a 20 or 30 yr period. but its like buying a house. over a 20 or 30 yr period your house value will go up. this year and maybe next year it won't, but over a long period time it will go up.
do you guys know that the pension is invested in the market, same as a 401k. but that guarantee is whats killing these pensions. a 401k there is no guarantee. a pension works almost just like social security program, and we can all see how well the program is working. its crap.
millionaire myth? why is it so hard to believe retiring a millionaire is so hard. if you believe everything you hear on the news, then you think no one is retiring a millionaire. but in the real world, plenty of people are doing it. how much do you think has to be in an account with a pension in order to receive around $3000 a month for the rest of your life? that money doesn't come out of thin air. the pension is being invested and relying on monthly contributions from the company. if the companies go under and the pension is managed poorly, what do you think that does to the pension? yes its protected by the government. but the government pension security program is already at its limits trying to fund defunct pensions right now.
so if you think you 100% covered by your pension, you wrong. its not as safe as you think.

 

[TheBigR]

These pension funds are not run by truck drivers. They are run by degreed money managers who know who to manage billions of dollars. I know in the case of the NYS plan, the NJ plan and the Western plan, they are fully funded and doing very well. I am not familiar with the other plans so I cannot speak for them. I have no doubt that my check will come for as long as I am alive and will come to my benificiary as long as she is alive, and will come to future Teamster retiree's. I also have a Teamster 401 k that I rolled over to an IRA that I have not touched since I retired that I plan on passing on to my children, that I contributed to while employed by Roadway.

 

[Stoney]

i'm talking about the money money managers. everybody thought enron was ran well. look what happened there. or even world com.
or the banks that loaned money to people to buy houses on these subprime morgages, everybody thought they new what they were doing with these loans in the billions too. look at these banks now. there hurting, government is stepping in to take over some of these banks. alot of the retired auto plant workers thought they have there pension too. a lot of them lost there pensions too. its sad really sad. i think the problem is that these pensions are not under control of the employee themselves. the employee just sits and hopes that pension is doing good. with a 401k, you have control over it.
i have 1 fund that has 54 year track record, with 11.8% retur over that 54 years. some years down, most were up. i only invest in conservative funds. those are the safest. the dot.com funds were high risk funds. if i were investing back then, i probably would have invested in the dot.coms too, but not a whole lot. maybe 1 or 3%.

 

[TheBigR]

Enron, Worldcom, GM, your talking about employer controlled SEPF's. Completely different from Teamster MEPF's with fiduciary responsibility to both the union and the company. Apples and oranges. Don't try and tell me your up money in your 401 now or I'll have to call you on that one. My IRA is 100% bond fund and I'm only up 5% for the year. The dow is down over 2000 for the year. Unless you can pull a rabbit out of a hat, you are the only one up money this year. Just ask the Conway and Fedex guys how they are doing. And maybe you could name that stellar fund your talking about so we could check it out, and maybe how long you have been in it.

 

[Stoney]

ya, your right, i'm down this year, but im not worried about. sorry i don't give out fund names. and i think everybody is missing my point. maybe 'm doing a crappy job describing it. i like my pension, i won't give it up. but i know its not as secure as most people believe. that's all. i just don't understand why on one believes that you can't make a million+ in a 401k or just a regular ol mutual fund. everybody seems to be freaking out about the economy. we haven't had on quarter of negative growth yet. a recession is 2 quarters of neg growth.
and my comment about enron and worldcom was just to point out when a company looks successful, sometimes there really not. i'm in the western conference with the teamsters. and right now the pension is in very good shape. but that can change anytime.
that usf guy was accusing me of not liking the pension and basically being stupid to want to invest in a 401k. and apparently because i'm a teamster, i'm an obama supporter. i wouldn't vote for that guy even if you had a gun to my head. i believe the teamsters are sellouts for supporting that clown. buts that's another discussion, sorry.

 

[USA TRKR]

I think some may have missed your point. I don't doubt that a 401K is an investment tool to be in combination with a pension or some other kind of retirement. I doubt that there are many workers at this moment with this economy that can put in 10% let alone 15 or 20%. I don't believe 10% will make you a million with the lousy company match of YRCW/Reddaway. The topic on this thread that has been going back and forth is that the few think a 401K is "better" than a pension. The others, like me, believe both is always better. But the few think only a 401K is better period. The workers that voted the union out did so because they didn't want to lose the company match to get the pension and union benefits. I myself think its a no brainer and can't understand for the life of me why someone would not want both.

 

[Stoney]

i agree, both are good. and 10% in YRCW probably won't make you a million. but run down to your local investment broker, and they can find you a fund that will. don't have to go through your company.

 

[USA TRKR]

i agree, both are good. and 10% in YRCW probably won't make you a million. but run down to your local investment broker, and they can find you a fund that will. don't have to go through your company.

I've decided many retirements are better. The more the better. Never have all the eggs in one basket so to speak. I've got a couple good funds but really wish Sac stayed union for the pension. It would have been nice for everyone. Unfortunately a bunch decided they would believe the company bull. They are paying for it ow though. We'll see how it all plays out.

 

[TheBigR]

Stoney, thanks for your honest response, although I don't understand why you can't name your fund. In all honesty, having both a pension and a 401 and private investments is the way to go, but if all you can have is one, I'll take the pension. As far as going to a broker, why pay your money (fees) to someone else to make decisions on what to do with "your" money. Read books, use the internet, watch CNBC, learn how to do it yourself. Your broker can loose your money just as easy as you can. Start small and work your way up, thats what I did, and I did pretty good. Back in the dot com hayday, I used to stay up all day on my Boston bid and day trade on my laptop in my hotel room. Took a lot of power naps on the way home, but it was a great time.

 

[dave7v]

stoney ?
I never said any mutal funds inside the YRC 401k was currently making 6%.I said you will be lucky to average 6% over the life of your 401k.I contribute 15% into my 401k but I am not brainwashed by the FINANCIAL PLANNERS who you speak volumes for.they make money when you invest in funds that they broker for.you still havnt given me 1 person you know thats fully retired on thier 401k.you should work for fidelity they spewed this million doller 401k BULL just like your doing now.I have no doubt that you can make a million inside a 401k but not with the small contributions that normal family men can afford.you need to remember not everyone can contribute 15% like you and I.you are not thinking of the collective this is why I suspect you are not a teamster.if you are then I would sudjest you re-think your stance on pensions.
you are backstabing all the men who earned it.
I do not nor have I ever said a pension is a stand alone retirment.you realy need 3 forms of income to keep up with rising costs.just dont hipe up the 401k like its the only answer to retirment.

 

[Stoney]

you know you can think what you want davey. your the only one accusing me of not being a teamster. fact is i'm a 3rd generation teamster. and i never said the 401K is the only answer to retirement. i just said i like it better than the pension. MY OPINION! I think davey you need to go back to school and learn to read again. you keep putting words in my mouth. and just because i have a different opionion then most teamsters doesn't mean i'm stabbing them in the back. i'm a teamster for other reason, not just the pension. i'm a teamster for job protection, somebody to stand up next to me and watchout for my best interests. supperior pay, good medical insurance. basically  a better way of life as truckdriver. and what you said about the YRS fund.whatever. here's your statement

"I never said any mutal funds inside the YRC 401k was currently making 6%.I said you will be lucky to average 6% over the life of your 401k." what? making 6% averaging 6% whats the difference? that made no sense

i'm done your with ***. everone else in here may have disagrred with me, but least they were muture, and showed me respect. you respond all you to me, you won't get a reply out of me to you anymore. learn some respect!

 

[Stoney]

stoney ?
I never said any mutal funds inside the YRC 401k was currently making 6%.I said you will be lucky to average 6% over the life of your 401k.I contribute 15% into my 401k but I am not brainwashed by the FINANCIAL PLANNERS who you speak volumes for.they make money when you invest in funds that they broker for.you still havnt given me 1 person you know thats fully retired on thier 401k.you should work for fidelity they spewed this million doller 401k BULL just like your doing now.I have no doubt that you can make a million inside a 401k but not with the small contributions that normal family men can afford.you need to remember not everyone can contribute 15% like you and I.you are not thinking of the collective this is why I suspect you are not a teamster.if you are then I would sudjest you re-think your stance on pensions.
you are backstabing all the men who earned it.
I do not nor have I ever said a pension is a stand alone retirment.you realy need 3 forms of income to keep up with rising costs.just dont hipe up the 401k like its the only answer to retirment.

you know you can think what you want davey. your the only one accusing me of not being a teamster. fact is i'm a 3rd generation teamster. and i never said the 401K is the only answer to retirement. i just said i like it better than the pension. MY OPINION! I think davey you need to go back to school and learn to read again. you keep putting words in my mouth. and just because i have a different opinion then most teamsters doesn't mean i'm stabbing them in the back. i'm a teamster for other reason, not just the pension. i'm a teamster for job protection, somebody to stand up next to me and watch out for my best interests. superior pay, good medical insurance. basically a better way of life as truck driver. and what you said about the YRS fund.whatever. here's your statement

"I never said any mutual funds inside the YRC 401k was currently making 6%.I said you will be lucky to average 6% over the life of your 401k." what? making 6% averaging 6% whats the difference? that made no sense

i'm done your with ***. everyone else in here may have disagreed with me, but least they were mature, and showed me respect. you can respond to me all you want., you won't get a reply out of me to you anymore. learn some respect!

 

[Stoney]

Stoney, thanks for your honest response, although I don't understand why you can't name your fund. In all honesty, having both a pension and a 401 and private investments is the way to go, but if all you can have is one, I'll take the pension. As far as going to a broker, why pay your money (fees) to someone else to make decisions on what to do with "your" money. Read books, use the internet, watch CNBC, learn how to do it yourself. Your broker can loose your money just as easy as you can. Start small and work your way up, thats what I did, and I did pretty good. Back in the dot com hayday, I used to stay up all day on my Boston bid and day trade on my laptop in my hotel room. Took a lot of power naps on the way home, but it was a great time.

your Big R, i should learn to do it myself, and i am presently doing that. but my broker does a very good job for me, and he's actully teaching me. he doesn't tell me what i should do with my money. he gives me choices, and tells me the pros and cons of diferent funds and such, and i make the final disision. its my money not his. i already left 2 other brokers because they thought they could TELL me what to do with my money. and they wanted to do was put my money in some program where they got paid a higher commission. my new broker doesn't do that.

 

[pdriver]

The union got voted out, and I'm wondering how many more days you people are going to cry? Just curious since I'm taking a survey.

 

[pdriver]

you know you can think what you want davey. your the only one accusing me of not being a teamster. fact is i'm a 3rd generation teamster. and i never said the 401K is the only answer to retirement. i just said i like it better than the pension. MY OPINION! I think davey you need to go back to school and learn to read again. you keep putting words in my mouth. and just because i have a different opinion then most teamsters doesn't mean i'm stabbing them in the back. i'm a teamster for other reason, not just the pension. i'm a teamster for job protection, somebody to stand up next to me and watch out for my best interests. superior pay, good medical insurance. basically a better way of life as truck driver. and what you said about the YRS fund.whatever. here's your statement

"I never said any mutual funds inside the YRC 401k was currently making 6%.I said you will be lucky to average 6% over the life of your 401k." what? making 6% averaging 6% whats the difference? that made no sense

i'm done your with ***. everyone else in here may have disagreed with me, but least they were mature, and showed me respect. you can respond to me all you want., you won't get a reply out of me to you anymore. learn some respect!

I agree with you, and you have to remember that they only want to hear what they want to hear. They can't handle the truth, just lies. I'm behind you ABF "all the way". And tell them Steve said that.

 

[scalgrasshopper]

401k

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.

i agree the 401k is far far far superior than a pension!!!!!!!!!!!!!!!!!!

 

[bigdogpile]

401k rocks

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.

hell ya I could not have said it better .the 401k is far better than a measly ole 3000k a month. pensions are just a promise of what you might get.
CA DMV workers are a union, and the terminator, I mean the governer cut their pay to FED min wage, and that is less than CA min wage. WAY TO GO. lets see the union deal with that. Finally the DMV workers will be paid what their worth.LOL. The 401k is the best because its our money STONEY. some of these knuckleheads cant see that, and they dont understand how compound interest works. Thats the best part ITS YOUR MONEY, I would rather be a millionaire than a poorman, collecting a poor monthly check:smilie_132:

 

[bigdogpile]

no choices

i'm talking about the money money managers. everybody thought enron was ran well. look what happened there. or even world com.
or the banks that loaned money to people to buy houses on these subprime morgages, everybody thought they new what they were doing with these loans in the billions too. look at these banks now. there hurting, government is stepping in to take over some of these banks. alot of the retired auto plant workers thought they have there pension too. a lot of them lost there pensions too. its sad really sad. i think the problem is that these pensions are not under control of the employee themselves. the employee just sits and hopes that pension is doing good. with a 401k, you have control over it.
i have 1 fund that has 54 year track record, with 11.8% retur over that 54 years. some years down, most were up. i only invest in conservative funds. those are the safest. the dot.com funds were high risk funds. if i were investing back then, i probably would have invested in the dot.coms too, but not a whole lot. maybe 1 or 3%.

just to let you know, we have 12 funds to pick from, of the 12 ,7 of them have a ten year track record of 10.5% over the life of the fund. I know that dont mean nothing to the knuckleheads, but stoney I know you can apperciate that and what it means

 

[Stoney]

ya, i do appeciate that. but i do wanna be careful, and say that i'm not bashing the pension, i just think the 401k is a better tool if used right. like i said my grandfather, and dad retired with pensions. and have i said anything to make people think that i'm lying about being a teamster? that really got to me

 

[bigdogpile]

nothing wrong with a pension

ya, i do appeciate that. but i do wanna be careful, and say that i'm not bashing the pension, i just think the 401k is a better tool if used right. like i said my grandfather, and dad retired with pensions. and have i said anything to make people think that i'm lying about being a teamster? that really got to me

pensions are good but 401 is better, much better, and i for one am non union so I got to put all my eggs in the mutual fund basketA 401 is a real asset that you can list against your liabilitys--10-4?