Skinnytrucker
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if you had 2 different job offers and one of em paid the highest rate into CS and the other put $9,100 a year into a 401k for you every year which one would you choose??
Yellow | CS pension or 401k
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To me that's a no brainer but since you're asking it'd be that $9,100/year for me.
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All other things being equal? Healthcare, pay, working conditions? If the other job was lacking in those areas I would go with the CS job, open a Teamster 401K account and stick $200 a week in it, that's $10,400 a year and it reduces your taxable income by that much. That way you have both.
In general, under normal circumstances, a "defined benefit" retirement plan (a pension) is preferable since it guarantees a payout for as long as the retiree lives. In a "defined contribution" plan, (a 401K plan) you end up with a lump sum of money at retirement and you have to hope that lump sum lasts you for your whole life. Of course these days pension plans are in trouble and that changes things drastically. Today, with certain of our troubled pension plans, a 401K is the better choice.
highheadblues
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A better way to word that question would be; would you rather have a 401 k or flush your money down a well? I'd definitely take the 401. The cuts going into effect at Central States is just round 1, there will be many more coming in the future. Brings a whole new meaning to the old saying; death by a thousand cuts.
aztec warrior
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401k
Skinnytrucker
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But there's no gaurantee for the 401k either to my understanding. I know you get to control it but I don't have the knowledge to be able to do that I don't think.
Better call Edward Jones?
Barclay's Cayman Islands has an amazing investment strategy, if you can handle the risk factors.
Targeted retirement date funds. It ajusts your risks less stocks more secure Investments the closer you get to retirement.
More safety and less risk, but eliminates the possibility of greater gains, even in index funds. But then, I am not a fan of rebalancing.
Do your research, invest wisely, stay the course.
http://worldservicesgroup.com/guides/Guide to Investment Funds in the Cayman Islands (December 2006).pdf , Cayman Island fund info , this is where my Golfing buddy told me to put my p.t. wk-end driving job's 401-K , and it's been doing great ! and best part is that none of my 5 ex-wives can't get any of the money !!! SWEET DEAL !!!
Always a fan of one who realizes that tax havens are not a bad thing.
Will kinda ,but they were in different states ,Wong, it's none of my business, but did any of those wives overlap at any time?
https://www.polygamy.com/articles/7170056/polygamy-in-utah-usa, It's was ok cause I keep a p.o. box address in Utah & Polygamy is ok there !!Wong, it's none of my business, but did any of those wives overlap at any time?
Wong, it's none of my business, but did any of those wives overlap at any time?
Overlap? Curious choice! Double the fun?
