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SoapinTrucker

SoapinTrucker

Boatswainmate USN 1981-92
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I have been with CWX/Con-Way for over 10 years, and haven't managed to build up the 401K near enough, in part because of "layoff" scare in 1996, which I was right, 9 of us were "economically terminated" in Phoenix due to losing a major account. I waited for over a year to restart my 401K back then after being called back :(

That said, and considering the future, regardless of what comes out in the 10-16-06 meeting, what would you do to prepare for yourself? For your retirement?

I am not sure if a Roth IRA is the way to go, or invest in stocks, or an annuity, or a combination of the three, or, have I missed other alternatives? Are there other investments to look at or consider?

I LOVE Con-Way, and will stay with them until I retire, no matter what they change, but obviously, I need to think about retirement, which was 2022 (26 years to 100%), unless it changes tonight at the meeting ;)

Thank you for any help and replies!
 
With the changes Conway made in the retirement package your best move is to maximize your 401k investment. You can get the details from your personnel supervisor or XGO. You will want to get all the match that is available. Remember, the maximum limit that you can contribute doesn't include any company match, ie. your investment is 15000 the company match can still be 4500. You get a 25 to 28 % return on your money the first year because it's a pretax deduction. Hope that helps. Press on.
 
George said:
With the changes Conway made in the retirement package your best move is to maximize your 401k investment. You can get the details from your personnel supervisor or XGO. You will want to get all the match that is available. Remember, the maximum limit that you can contribute doesn't include any company match, ie. your investment is 15000 the company match can still be 4500. You get a 25 to 28 % return on your money the first year because it's a pretax deduction. Hope that helps. Press on.
Click to expand...

Definitely upgrade to at least 6% (I did before the changes), no doubt, but I am thinking a Roth IRA could be a good choice in lieu of the pension changes.
 
Another is to reduce, reuse and don't take on more debt than you have to. Save back for a rainy day along with any funds. I'm more along the lines of go ahead and have money back that taxes already been paid on. I believe the ROTH is like that? I'll have to go back and check my details.
 
George said:
With the changes Conway made in the retirement package your best move is to maximize your 401k investment. You can get the details from your personnel supervisor or XGO. You will want to get all the match that is available. Remember, the maximum limit that you can contribute doesn't include any company match, ie. your investment is 15000 the company match can still be 4500. You get a 25 to 28 % return on your money the first year because it's a pretax deduction. Hope that helps. Press on.
Click to expand...

Great return on your money.........until the market takes a dump.
 
SoapinTrucker said:
I have been with CWX/Con-Way for over 10 years, and haven't managed to build up the 401K near enough, in part because of "layoff" scare in 1996, which I was right, 9 of us were "economically terminated" in Phoenix due to losing a major account. I waited for over a year to restart my 401K back then after being called back :(

That said, and considering the future, regardless of what comes out in the 10-16-06 meeting, what would you do to prepare for yourself? For your retirement?

I am not sure if a Roth IRA is the way to go, or invest in stocks, or an annuity, or a combination of the three, or, have I missed other alternatives? Are there other investments to look at or consider?

I LOVE Con-Way, and will stay with them until I retire, no matter what they change, but obviously, I need to think about retirement, which was 2022 (26 years to 100%), unless it changes tonight at the meeting ;)

Thank you for any help and replies!
Click to expand...
This is one of the reasons I went back in so I could finish my military retirement and health care.
 
For the survey, I would have to pick "None Of The Above".

I have sent all of my savings to several different NASCAR race teams and am realizing incredible returns!!! Keep this quiet as I learned it from my employer. I want them to think they still have a near exclusive gig with this cash cow.
 
Bankrupt said:
For the survey, I would have to pick "None Of The Above".

I have sent all of my savings to several different NASCAR race teams and am realizing incredible returns!!! Keep this quiet as I learned it from my employer. I want them to think they still have a near exclusive gig with this cash cow.
Click to expand...

Nice, they say there is a huge return right? :clap:
 
Bankrupt said:
For the survey, I would have to pick "None Of The Above".

I have sent all of my savings to several different NASCAR race teams and am realizing incredible returns!!! Keep this quiet as I learned it from my employer. I want them to think they still have a near exclusive gig with this cash cow.
Click to expand...


Hhmmm!!!...you must be the partner I have yet to meet!...

Executive board meeting after the first with Johnny and the boys...I won't be there but you can have my proxy!

:hysterical:...Rat...:hysterical:
 
There was another way to suppement my pension that was not listed;

I like to renege on my obligations. I told my kids that I would help with their collage education but half way through their freshman year that money looked like it needed to stay in MY pocket. It was really kind of fun to pull the rug out from under them and I am so proud of the money I saved.

Also, I told the neighbor I would help him watch his cancer ridden father so he could work, but it was gross so I changed my mind. Now I budget all of that new found time for myself!

It's amazing how expansive my resources are and I initially created them by doing the right thing. I should write a self help book.
 
max your 401 you can put in 15,500.00 plus 6,500 for catch up...(if you are over 50)
total in your 401 that you put in is 22,000.00 I max out every year and then watch your elections in your 401, I check mine everyweek, sometimes I change it monthly.
 
beingpissed on said:
max your 401 you can put in 15,500.00 plus 6,500 for catch up...(if you are over 50)
total in your 401 that you put in is 22,000.00 I max out every year and then watch your elections in your 401, I check mine everyweek, sometimes I change it monthly.
Click to expand...

That's great but what am I supposed to buy groceries with?
 
well....ask Obama! I am sure he can get another government program going before the end of the year..Bankrupt... I like that thought... I think I will tell the wife to start to wake to work of take her bike... park the '06 car and use the push lwn mower and park the '09 rider, look at the gas i can save PLUS just maybe I might let her use the newer stuff if she bids accordingly
 
beingpissed on said:
well....ask Obama! I am sure he can get another government program going before the end of the year..Bankrupt... I like that thought... I think I will tell the wife to start to wake to work of take her bike... park the '06 car and use the push lwn mower and park the '09 rider, look at the gas i can save PLUS just maybe I might let her use the newer stuff if she bids accordingly
Click to expand...
Yes, these are just simple ways to approach a frugal life as taught by my leaders. I see you are coming around to our ways pissed-on-unit. Assimilation brings peace.
 
Who?

Bankrupt said:
There was another way to suppement my pension that was not listed;

I like to renege on my obligations. I told my kids that I would help with their collage education but half way through their freshman year that money looked like it needed to stay in MY pocket. It was really kind of fun to pull the rug out from under them and I am so proud of the money I saved.

Also, I told the neighbor I would help him watch his cancer ridden father so he could work, but it was gross so I changed my mind. Now I budget all of that new found time for myself!

It's amazing how expansive my resources are and I initially created them by doing the right thing. I should write a self help book.
Click to expand...
Who taught you to be like that? No,dont tell me, I KNOW WHO..... AND ITS A LESSON ILL NEVER FORGET.:nutkick: MERRY CHRISTMAS EVERYBODY....
 
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