General Discussion

LittleGirl

(8,947 posts)

49. excellent post

Thu Oct 30, 2014, 02:17 AM

Oct 2014

You're so right when you say that 401k s were set up for high earners. There is no way someone making 50k a year can save anymore than a couple of grand a year. I know, I lived those days. My 401k is low and we'll have to live off my spouse's retirement when that day comes. Thanks

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I was shocked comparing my wife's 401K to my [View all] upaloopa Oct 2014 OP

My Garbage Pail Kid cards didn't turn into the investment I had hoped for NightWatcher Oct 2014 #1

Are any of them actually worth anything? badtoworse Oct 2014 #4

i resemble that remark !!!!! unionthug777 Oct 2014 #10

LMAO! Enthusiast Oct 2014 #12

YES ! ALWAYS USE THE SCARCASM THING. Hoppy Oct 2014 #13

I got so screwed by Pokemon I finally gave up. Elmer S. E. Dump Oct 2014 #29

Oh no! Paulie Oct 2014 #59

Unfortunatley he/she was undiscovered! Elmer S. E. Dump Oct 2014 #63

Bad news - the bottom dropped out of the Beanie Baby market a long time ago dflprincess Oct 2014 #35

worse news DonCoquixote Oct 2014 #51

And, if not regulated, dflprincess Oct 2014 #104

There are lots of people out there with baseball card collections who will be disappointed also.... yellowcanine Nov 2014 #133

My husband is a retired marine engineer with a defined pension, too, Blue_In_AK Oct 2014 #2

I'm retired MEBA as well. cloudbase Oct 2014 #30

You should provide more information if you intend for people to make an informed judgment. badtoworse Oct 2014 #3

Anecdotal, but I have noticed over the years that union members generally have an easier CTyankee Oct 2014 #5

I have been employed by my employer for 7 years upaloopa Oct 2014 #6

She'll most likely get more than she puts in SickOfTheOnePct Oct 2014 #7

You can buy a lifetime annuity with your 401k money that does the same thing badtoworse Oct 2014 #8

There's still something missing here FBaggins Oct 2014 #40

Every year I get a statement that adds my employer upaloopa Oct 2014 #62

I will work 8 yr and 7 mos and after l will upaloopa Oct 2014 #64

it would likely not - you are benefitting from fellow members receiving less however whatthehey Oct 2014 #72

We all a agreed to pay for each other that is upaloopa Oct 2014 #77

"Can't see a 401K doing that." A HERETIC I AM Oct 2014 #74

I didn't fall off a turnip truck yesterday. upaloopa Oct 2014 #78

No beef whatsoever. A HERETIC I AM Oct 2014 #79

We get a full report every year on how our pension funds upaloopa Oct 2014 #80

LOL.... A HERETIC I AM Oct 2014 #92

I am not even going to read all of that. upaloopa Oct 2014 #93

Underfunded pension plan econoclast Oct 2014 #98

God you don't even have a clue what you are talking about! I really wonder where you get the sense upaloopa Oct 2014 #99

Pretty chart. Past performance is no guarantee of future results econoclast Oct 2014 #103

This is a game to you isn't it? upaloopa Oct 2014 #105

Yep, a few CA counties (usually right wing managed counties) did poorly on their returns Live and Learn Oct 2014 #107

Nanner, nanner, nanner, I can't hear you. deaniac21 Oct 2014 #97

One problem is that financial companies Yupster Oct 2014 #100

Very true. A HERETIC I AM Oct 2014 #101

But you know that once you are past your retirement age, your investment JDPriestly Nov 2014 #115

"But what you forget is that those investments go up and down over time." A HERETIC I AM Nov 2014 #116

The tax deferrment is great if, while you are working, you are paying high tax rates. JDPriestly Nov 2014 #117

As a teacher my wife was able... meaculpa2011 Nov 2014 #119

Aside from earning dividends/stock growth... GummyBearz Oct 2014 #60

Real value of your plan One_Life_To_Give Oct 2014 #9

So $1 million saved and accrued in growth or interest would equal an income of about $40,000 per JDPriestly Oct 2014 #20

Excellent post with honest numbers nikto Oct 2014 #36

how do honest numbers include zero gains? whatthehey Oct 2014 #61

You're gonna' be rich nikto Oct 2014 #106

comfortable is more likely. Certainly a lot richer than I would be without the 401k though. whatthehey Oct 2014 #108

Yes, that analysis completely ignores gains LondonReign2 Oct 2014 #109

@JDPriestly Excellent post mackerel Oct 2014 #47

+2,000,000 Fumesucker Oct 2014 #48

excellent post LittleGirl Oct 2014 #49

OK,but... LondonReign2 Oct 2014 #110

That's great if you start young LittleGirl Oct 2014 #114

Understood LondonReign2 Nov 2014 #128

That's right LittleGirl Nov 2014 #137

Putting a dollar value on the pension One_Life_To_Give Oct 2014 #58

Your pension is supporting you. Her 401K is supporting a LOT of people jtuck004 Oct 2014 #11

Bam!! nikto Oct 2014 #37

Kicked and recommended a whole bunch! Enthusiast Oct 2014 #14

Can relate to this. Wellstone ruled Oct 2014 #15

Excellent post. Thanks. JDPriestly Oct 2014 #16

..,... A HERETIC I AM Oct 2014 #76

I'd be interested in seeing the numbers behind this. Adrahil Oct 2014 #17

I work for county government. Our work force remains upaloopa Oct 2014 #18

I hear ya. I was a fed gov employee for 20 years. Adrahil Oct 2014 #34

Yeah, the defined benefit is doomed... nikto Oct 2014 #38

Well DBput! I'd add 'if the MSM makes it conventional wisdom that DB's don't work.' Gidney N Cloyd Oct 2014 #41

You are correct. They don't want to. Adrahil Oct 2014 #55

One of the enormous benefits of the 401k plans SheilaT Oct 2014 #19

It takes 5 years to be vested in our plan. upaloopa Oct 2014 #21

That's not true in my experience. badtoworse Oct 2014 #22

I never had a 401k so I pass to you upaloopa Oct 2014 #24

1 year? llmart Oct 2014 #27

Here is my experience with 401k company matching funds badtoworse Oct 2014 #52

Yes, five years, which is good. SheilaT Oct 2014 #23

But there are plans with no vesting period whopis01 Oct 2014 #32

The hospital I recently retired from also SheilaT Oct 2014 #45

Where I work, you are fully vested immediately. tammywammy Oct 2014 #39

Spouses' company just added another year to their vesting LittleGirl Oct 2014 #50

I'll take the defined benefit plan any day..... llmart Oct 2014 #28

defined benefit pensions can be portable. There is nothing preventing a db plan from providing an antigop Oct 2014 #44

Interesting. I've never known of a defined benefit pension that was portable. SheilaT Oct 2014 #46

And defined benefit plans are not always fully funded.... yellowcanine Nov 2014 #134

Yep. Not fully funded. SheilaT Nov 2014 #136

I currently am in two pension plans madville Oct 2014 #25

PLEASE tell the taxpayers that the private sector pays 50% more Omaha Steve Oct 2014 #26

Not always the case madville Oct 2014 #33

I will only work here 9 yrs and 7 mos. I will upaloopa Oct 2014 #53

+1,000 malaise Oct 2014 #31

You're lucky they matched her 401k. A lot of places don't even do that.... Spitfire of ATJ Oct 2014 #42

I hired on at my job with a pension plan but they fazed it out. I was just under the required years brewens Oct 2014 #43

It starts with US, the 99%, Buying UNION Made Products Youdontwantthetruth Oct 2014 #54

The great thing about 401k's is you are in there with the big boys. raouldukelives Oct 2014 #56

Where do you think defined benefit plans keep their money? whatthehey Oct 2014 #66

A good defined benefit plan is much better divested than simply Live and Learn Nov 2014 #132

But is likely very heavily invested in it whatthehey Nov 2014 #138

All I know is that ours has outperformed all the others in our state and Live and Learn Nov 2014 #139

ok - look and see what percentage they have in stocks and get back to me. whatthehey Nov 2014 #140

Here you go. Live and Learn Nov 2014 #141

In a 401k all the big players have escape routes when the market crashes libtodeath Oct 2014 #57

Fewer fingerprints to be found when draining 401Ks than when stealing pensions. Gidney N Cloyd Oct 2014 #65

but, if you want to avoid getting stuck in a crash, you can have your 401k go into dionysus Oct 2014 #75

Democrats should have made card check a top priority when they had a chance yurbud Oct 2014 #67

Isn't this apples to oranges? Proud Public Servant Oct 2014 #68

My wife gets a quarterly statement on it is upaloopa Oct 2014 #70

I'd be curious about the underlying assumptions Proud Public Servant Oct 2014 #71

I think it is done by an actuary upaloopa Oct 2014 #73

Unions are great but not all industries have them. dilby Oct 2014 #69

you get more, someone else gets less blackcrowflies Oct 2014 #81

Not true. What you are paid is determined by formula. upaloopa Oct 2014 #83

Yea until the formula breaks down GummyBearz Oct 2014 #84

You don't know anything about what you are posting. Here is our website. Read up upaloopa Oct 2014 #85

Uh... yea... GummyBearz Oct 2014 #86

Still trying for a win. Somehow you are smarter upaloopa Oct 2014 #87

Actually its the other way around... GummyBearz Oct 2014 #90

I feel for younger people I really do. upaloopa Oct 2014 #91

Well GummyBearz Oct 2014 #94

We agree on more than that I see upaloopa Oct 2014 #95

The plan had 900 million in unfunded liabilites on Dec 2013 Travis_0004 Oct 2014 #102

"If you take out more than what you put in, where does the difference come from?" LondonReign2 Oct 2014 #111

Dividends and ticker price gains are standard for any retirement plan GummyBearz Oct 2014 #112

I'm glad someone else understands this blackcrowflies Oct 2014 #113

Why would you subtract the gains made by dividends and gains? Live and Learn Nov 2014 #118

It makes sense when trying to do an apples to apples comparison GummyBearz Nov 2014 #120

But we are not taking out more collectively. Live and Learn Nov 2014 #121

So about that $900M shortfall in this defined benefits program... GummyBearz Nov 2014 #122

Only in poorly run programs. Live and Learn Nov 2014 #123

You need to tell the OP they are in a poorly run program Lonusca Nov 2014 #124

I think we have a generational divide issue here. GummyBearz Nov 2014 #125

Not a generational divide simply a divide on how to solve the problems Live and Learn Nov 2014 #126

I could be wrong, but I don't think that is correct LondonReign2 Nov 2014 #129

Sorry, but you don't fully understand how DB plans work LondonReign2 Nov 2014 #127

Sorry, I understand it better than you GummyBearz Nov 2014 #130

I kind of doubt you understand them better than I do LondonReign2 Nov 2014 #131

I can half agree GummyBearz Nov 2014 #135

+1 nt Live and Learn Nov 2014 #142

Now that's a plan worth getting behind. ileus Oct 2014 #82

pensions. NOT WALL STREET. pansypoo53219 Oct 2014 #88

Two things did Proud Public Servant Oct 2014 #89

You really should look at the .pdf document he linked above. A HERETIC I AM Oct 2014 #96