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ABF | teamster 401k

I have a guy that set's all my stuff up from Edward Jones. This is how he placed my stuff this year.

Total Return (PIMCO) 15% -0.09% 3.47%
Select Overseas (MFS/Harris) 26& 2.34% 26.72%
Sel Fundmentl Val (Wellington) 50% 2.36% 19.62%
Mainstay Small Cap Opportunity 10% 1.97% N/A
 
You can set up your own 401K. Ask what the yearly costs are at the Teamster 401K. Since the company won't kick in anything like at a non-union plan you could do much better on your own. Of course you'll have to do some research when you invest on your own.
 
bucksnort59 said:
You can set up your own 401K. Ask what the yearly costs are at the Teamster 401K. Since the company won't kick in anything like at a non-union plan you could do much better on your own. Of course you'll have to do some research when you invest on your own.
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Yup what he said. You can go to any investment house and tell them what your goals are and they'll tell you how to achieve them. You might want to consider a IRA. I don't know your particular situation but they'll tell you what you need to do to have the money you'll need for retirement. That's what they do.
 
I got to have someone look at my 401k and IRA. I have no idea what i am doing! I would have to take a day off just to make an appointment with someone. I have been in the 401k since 1995 and dont have a clue.
 
12pack said:
I got to have someone look at my 401k and IRA. I have no idea what i am doing! I would have to take a day off just to make an appointment with someone. I have been in the 401k since 1995 and dont have a clue.
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Most investor's have their portfolio looked at every 3-6 months. They do that because the fluctuation of the markets and the trends of the economy. If you haven't done anything with your stuff since 1995 depending on what you originally invested on you might have done great or horrible.

Some people can do their own stuff. I have people handle my stuff. This is what I was taught about retirement. You want to make as much retired as you would working. If you make 50k a year as a driver working plus or minus your bills you want to make that retired. Anything less would make for a very tight and poor retirement. I want to retire rich, live large and leave my children with a big inheritance.

Any investment house would be able to help you. Do they charge you ? Yes but no. Where I go it works like this. They get paid based on their performance on the investments they recommend. So If I give them 100.00 to invest and it earns 25% for the year. You will earn 25.00 dollar. a total earning of 125.00. They'll receive maybe 1% -2 % earning from that. So they pay for themselves. Some investment houses just pay their stock brokers a flat salary with bonuses based on their performance. It's a no brainer really you and I would never have the knowledge a stock broker would on the trends in the market.

They will give you advice on your teamster 401k and any other investment your interested in.If you tell them what you want for retirement. They'll tell you what you need to do to achieve it. Good luck.
 
I know what is in the account i just know i am in over my head with it. I guess i just have to pick someone out of the phone book and hope they know what they are doing because i don't. I keep hopeing i will find someone who knows somegood i guess. I hate to just get a random guy and i will get screwed out of what took me 12 years to save. It burns me to have to take a day off to do it. It made over 5k just in dividends last year but i know a pro could do better!
I want the same stuff you do just way out in the sticks with a lot of land. copy?
 
12pack said:
I know what is in the account i just know i am in over my head with it. I guess i just have to pick someone out of the phone book and hope they know what they are doing because i don't. I keep hopeing i will find someone who knows somegood i guess. I hate to just get a random guy and i will get screwed out of what took me 12 years to save. It burns me to have to take a day off to do it. It made over 5k just in dividends last year but i know a pro could do better!
I want the same stuff you do just way out in the sticks with a lot of land. copy?
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you think about it, it's worth a day off every 6 months to check on your retirement. It's that important. It's why we are working. I recommend Edward Jones.

Edward Jones: Making Sense of Investing

You can leave all your 401k at Mass Mutual. They won't have access to it, only you will have access to it. They will offer you advice on it and where to place your money . Just go open a simple money market with them or something. Put 20.00-50.00 a week in it. Then you have your own stock broker to get advice from. If they earn your trust go from there. I didn't go with my guy for a whole year. I just played around with a couple guys to see who I trusted the most. Edward Jones is rated very highly in the investment house field.
 
how often can you change the percentage you put in. some companies only allow you to do that once or twice a year while at other places you can make the change anytime you want. there's a small amount, say 2-3 percent, which doesn't even make a dent in what your take home is each week. it just lowers the amount uncle sam gets. for that reason alone i feel foolish for holding off as long as i have.
 
Great advice IR,
Right now I'm investing more in my kids education so I don't have to leave them anything. The important thing is to do it now. Don't put it off and the money that's in there is not for looting later for material goods before retirement. It won't take all day and some of these people are open on the weekends.
 
deadhead said:
how often can you change the percentage you put in. some companies only allow you to do that once or twice a year while at other places you can make the change anytime you want. there's a small amount, say 2-3 percent, which doesn't even make a dent in what your take home is each week. it just lowers the amount uncle sam gets. for that reason alone i feel foolish for holding off as long as i have.
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Mass Mutual I believe allows you to change you % every 90 days. I'll have to check to be sure. I know no matter how much you put in you can always change it to 0 if you need to for like an emergency but your stuck with 0 for 90 days. As far as changing what you invest in I believe that is also 90 days. I'll do some research to be sure.
 
Contribution Limits
Contribution changes are limited to once every 90 days. Contributions may be stopped at
any time.
Contributions to After-Tax may be made in 1% increments from 1% to 5%.
Contributions to Deferred Salary may be made in 1% increments from 1% to 89%.
Total pre-tax contributions to all qualified retirement plans cannot exceed $15,500 in 2007.
Compensation over $225,000 for 2007 is excluded for determining contributions to the plan.
Any amounts contributed may be reduced or returned to you as required by the Internal Revenue Code.
 
rockford files said:
Great advice IR,
Right now I'm investing more in my kids education so I don't have to leave them anything. The important thing is to do it now. Don't put it off and the money that's in there is not for looting later for material goods before retirement. It won't take all day and some of these people are open on the weekends.
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Yup what he said. I think it takes me about a half hour to 45 minute every 6 months. They'll e-mail me or call me for anything that needs to be done immediately.

Most investment houses will have several college saving programs that are better then just a saving program. They have a 529 plan that is a tax advantage saving program for college. I have 3.5 % and my wife has 3.5 % set up for our children. Some will have that Coverdell Education saving program which is another tax advantage program. I don't know allot about that one though.
 
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