How many of you have a PENSION vs 401k

2

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  • SPEEDY MCCREADY
    SPEEDY MCCREADY Posts: 27,124
    And now that I think about it....

    I know people who are in there late 30's early 40's who still havent figured out that they might want to go out and get a job. And when it finally dawns on them,(if ever) that they might need to actually go out an earn a living like an adult, they are going to realize that it is too late. How does one apply for a position, and have no experience whatsoever, or no work history whatsoever? How can a 35-40 year old expect to be hired when they spent the last 10 years smoking dope, eating twinkies, and seeing Pearl Jam??? hehehehe
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  • MayDay10
    MayDay10 Posts: 11,900
    yeah, I have a friend like that. Its very disturbing. Goes between off the books jobs and not working at all. Lives at parents or brothers, borrows cars from them, etc...

    I want to have a talk with him, but dont want to bruise his ego too badly. Just get a job at Wegmans stocking produce or something (I would love to do that), get a paycheck, bennies, get promoted, work for a great company, save, etc...
  • davidtrios
    davidtrios Posts: 9,732
    MayDay10 wrote:
    yeah, I have a friend like that. Its very disturbing. Goes between off the books jobs and not working at all. Lives at parents or brothers, borrows cars from them, etc...

    I want to have a talk with him, but dont want to bruise his ego too badly. Just get a job at Wegmans stocking produce or something (I would love to do that), get a paycheck, bennies, get promoted, work for a great company, save, etc...


    i wish they had wegmans here in chi. it's the best grocery store ever.
  • SPEEDY MCCREADY
    SPEEDY MCCREADY Posts: 27,124
    MayDay10 wrote:
    yeah, I have a friend like that. Its very disturbing. Goes between off the books jobs and not working at all. Lives at parents or brothers, borrows cars from them, etc...

    I want to have a talk with him, but dont want to bruise his ego too badly. Just get a job at Wegmans stocking produce or something (I would love to do that), get a paycheck, bennies, get promoted, work for a great company, save, etc...
    The part that kinda scares me, amazes me, makes me scratch my head?

    These people are 30-40 years old, and they see NOTHING wrong with their behavior. They are still acting like they are 17yrs. old, and they are perfectly fine with it. It baffles me. Being 40 yrs. old, with NO WORK HISTORY, is just fucking bizzare in my eyes.
    Take me piece by piece.....
    Till there aint nothing left worth taking away from me.....
  • Better Dan
    Better Dan Posts: 5,684
    401k with a 5 % match
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  • justam
    justam Posts: 21,415
    edited February 2012
    SPEEDY MCCREADY wrote:
    MayDay10 wrote:
    yeah, I have a friend like that. Its very disturbing. Goes between off the books jobs and not working at all. Lives at parents or brothers, borrows cars from them, etc...

    I want to have a talk with him, but dont want to bruise his ego too badly. Just get a job at Wegmans stocking produce or something (I would love to do that), get a paycheck, bennies, get promoted, work for a great company, save, etc...
    The part that kinda scares me, amazes me, makes me scratch my head?

    These people are 30-40 years old, and they see NOTHING wrong with their behavior. They are still acting like they are 17yrs. old, and they are perfectly fine with it. It baffles me. Being 40 yrs. old, with NO WORK HISTORY, is just fucking bizzare in my eyes.

    Speedy, I think it must be avoidance behavior.

    For, if they went out there and realized how hard it would actually be for them to get a job they'd feel bad. So, they avoid the whole problem. It's like a snowball heading to no-where good though! :?
    &&&&&&&&&&&&&&
  • Given to...
    Given to... Wyoming Posts: 5,007
    I know one or two of those 30-40 year olds also.

    Even the 20 somethings that just cant grasp employment baffle me. My son worked at the only grocery store as soon as he was old enough. Work ethic. It makes a huge difference! He is in college now and knows what work is and what rewards are. Self made kid at 19 years old basically (with my tutelage of course!)

    And WTF is it with a few of these 30 year old or older living with Ma and Pa and not paying any rent while pulling in close to 100K!? I know two of them off the top of my head! In my small neck of the woods!

    I cant go there. I'm getting all worked up already.
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  • merkinball
    merkinball Posts: 2,262
    The Juggler wrote:
    we both have 401k's. and my wife's a teacher so she has a pretty sweet pension to look forward to down the road.

    Same here.
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  • Who Princess
    Who Princess out here in the fields Posts: 7,305
    merkinball wrote:
    The Juggler wrote:
    we both have 401k's. and my wife's a teacher so she has a pretty sweet pension to look forward to down the road.

    Same here.
    I'm think teacher pensions must vary a lot from state to state. Working in social services, I've come across many retired teachers who had difficulty paying utility bills, etc. It's been a few years but I remember one lady who was receiving $600 a month, which is not my idea of a pretty sweet pension.
    "The stars are all connected to the brain."
  • of.the.girl
    of.the.girl Posts: 10,026
    I have both. My company matches 100% up to 5% of what I put into my 401. Plus they contribute a huge lump sum into my pension each year. Which I'm vested in both already. So I'll be sitting real good come retirement. :D
  • of.the.girl
    of.the.girl Posts: 10,026
    MayDay10 wrote:
    yeah, I have a friend like that. Its very disturbing. Goes between off the books jobs and not working at all. Lives at parents or brothers, borrows cars from them, etc...

    I want to have a talk with him, but dont want to bruise his ego too badly. Just get a job at Wegmans stocking produce or something (I would love to do that), get a paycheck, bennies, get promoted, work for a great company, save, etc...

    I knew a friend like this. He's in his early 30's and just NOW got a real on the books job. He has nothing in savings for retirement. And no where near anything in social security. I had "the talk" with him a year or so ago and it didn't phase him what so ever that he had nothing started for retirement. He was shocked that I had so much already. The way I look at it.....one can never start to early for retirement.
  • JOEJOEJOE
    JOEJOEJOE Posts: 10,853
    I have a 401K at work, and I try to contribute the maximum each year. My firm matches a small amount, but I always maximize their contribution. We also have a Profit Sharing Plan, so they sock-away some dough every year. No one gets too excited when our boss advises them of their psp contribution amount, because they don't see the money in their paycheck.
  • Johnny Abruzzo
    Johnny Abruzzo Philly Posts: 12,548
    Given to... wrote:
    I know one or two of those 30-40 year olds also.

    Even the 20 somethings that just cant grasp employment baffle me. My son worked at the only grocery store as soon as he was old enough. Work ethic. It makes a huge difference! He is in college now and knows what work is and what rewards are. Self made kid at 19 years old basically (with my tutelage of course!)

    And WTF is it with a few of these 30 year old or older living with Ma and Pa and not paying any rent while pulling in close to 100K!? I know two of them off the top of my head! In my small neck of the woods!

    I cant go there. I'm getting all worked up already.

    Mom & Dad shouldn't be enabling this behavior. My parents enabled my brother for way too long and he is in way deep trouble now.
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  • Wobbie
    Wobbie Posts: 31,666
    Who Princess wrote:
    merkinball wrote:
    The Juggler wrote:
    we both have 401k's. and my wife's a teacher so she has a pretty sweet pension to look forward to down the road.

    Same here.
    I'm think teacher pensions must vary a lot from state to state. Working in social services, I've come across many retired teachers who had difficulty paying utility bills, etc. It's been a few years but I remember one lady who was receiving $600 a month, which is not my idea of a pretty sweet pension.

    my wife taught for 20 years and took a 68% pension reduction because she didn't have the age to retire. so, I don't think taking 32% after 20 years is all that great.

    luckily, my city of las vegas pension is not too shabby ;)
    If I had known then what I know now...

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  • FrankieG
    FrankieG Abingdon MD Posts: 9,100
    I have a 401k, match up to 5%. Vested after 3 years, which I will hit in 15 months, and im only 21 :);)

    The question I have is should I contribute more, or pay back school loans faster?
    2003: 7/14 NJ ... 2006: 6/1 NJ, 6/3 NJ ... 2007: 8/5 IL ... 2008: 6/24 NY, 6/25 NY, 8/7 EV NJ ... 2009: 10/27 PA, 10/28 PA, 10/30 PA, 10/31 PA
    2010: 5/20 NY, 5/21 NY ... 2011: 6/21 EV NY, 9/3 WI, 9/4 WI ... 2012: 9/2 PA, 9/22 GA ... 2013: 10/18 NY, 10/19 NY, 10/21 PA, 10/22 PA, 10/27 MD
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  • 81
    81 Needing a ride to Forest Hills and a ounce of weed. Please inquire within. Thanks. Or not. Posts: 58,276
    FrankieG wrote:
    The question I have is should I contribute more, or pay back school loans faster?

    depends on what your school intrest rate and if you think you can beat that number in the market
    81 is now off the air

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  • FrankieG
    FrankieG Abingdon MD Posts: 9,100
    81 wrote:
    FrankieG wrote:
    The question I have is should I contribute more, or pay back school loans faster?

    depends on what your school intrest rate and if you think you can beat that number in the market

    Im pretty sure all of my loans up to this point are between 3 and 4 %, but I don't need to start paying back until I graduate, which will be in 15 months. So technically I don't have to figure this out yet.
    2003: 7/14 NJ ... 2006: 6/1 NJ, 6/3 NJ ... 2007: 8/5 IL ... 2008: 6/24 NY, 6/25 NY, 8/7 EV NJ ... 2009: 10/27 PA, 10/28 PA, 10/30 PA, 10/31 PA
    2010: 5/20 NY, 5/21 NY ... 2011: 6/21 EV NY, 9/3 WI, 9/4 WI ... 2012: 9/2 PA, 9/22 GA ... 2013: 10/18 NY, 10/19 NY, 10/21 PA, 10/22 PA, 10/27 MD
    2015: 9/23 NY, 9/26 NY ... 2016: 4/28 PA, 4/29 PA, 5/1 NY, 5/2 NY, 6/11 TN, 8/7 MA, 11/4 TOTD PA, 11/5 TOTD PA ... 2018: 8/10 WA
    2022: 9/14 NJ ... 2024: 5/28 WA, 9/7 PA, 9/9 PA ---- http://imgur.com/a/nk0s7
  • 81
    81 Needing a ride to Forest Hills and a ounce of weed. Please inquire within. Thanks. Or not. Posts: 58,276
    FrankieG wrote:
    81 wrote:
    FrankieG wrote:
    The question I have is should I contribute more, or pay back school loans faster?

    depends on what your school intrest rate and if you think you can beat that number in the market

    Im pretty sure all of my loans up to this point are between 3 and 4 %, but I don't need to start paying back until I graduate, which will be in 15 months. So technically I don't have to figure this out yet.

    when that time comes....if you think you can beat your intrest rate plus the tax benifit, then it technically makes sense to put yoru money into the market.
    81 is now off the air

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  • acpaxton01
    acpaxton01 Oklahoma Posts: 172
    I have a pension calculated at 2% x years of service x avg. of high 5 years salary. I also have a 401k that the company matches 100% up to 5%.
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  • Johnny Abruzzo
    Johnny Abruzzo Philly Posts: 12,548
    acpaxton01 wrote:
    I have a pension calculated at 2% x years of service x avg. of high 5 years salary. I also have a 401k that the company matches 100% up to 5%.

    Wow. Stay at that job. :o
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