View Poll Results: What To Do Now That Winter Is Here?

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20. You may not vote on this poll
  • Keep warm and toasty under a blanket

    8 40.00%
  • Curse my local sports team

    10 50.00%
  • Hibernate until spring

    3 15.00%
  • Build a snow fort

    6 30.00%
  • Reminisce about how winters were worse "in my day"

    13 65.00%
  • Bacon and Giada and yada yada yada

    4 20.00%
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Thread: Rep Retirement Lodge 194: What to do now that winter has really started?

  1. #681
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Itís not a grandfathered plan. Thatís called a defined contribution pension. Itís what most companies do now. Contribute whatever you want, weíll match it up to a certain percentage, and separately weíll give you x% on top of it all. That last part is the defined contribution.

  2. #682
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by dxmnkd316 View Post
    It’s not a grandfathered plan. That’s called a defined contribution pension. It’s what most companies do now. Contribute whatever you want, we’ll match it up to a certain percentage, and separately we’ll give you x% on top of it all. That last part is the defined contribution.
    Employees cannot contribute to our program. Our retirement fund is literally given money by my company.

    Edit:

    In the past, I think the best year was 22% of gross income.
    Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
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  3. #683

    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by dxmnkd316 View Post
    Itís not a grandfathered plan. Thatís called a defined contribution pension. Itís what most companies do now. Contribute whatever you want, weíll match it up to a certain percentage.
    This is what we have, but our company contribution is ridiculously low (4%). I put 12% away every paycheck (I'd like to do more, but my student loan payments are ridonkulous). It's annoying. My last hospital matched up to 7% and I left with 1 year left before I was 100% vested (I'm 75% vested); I've left my money there because I may some day return there.

  4. #684
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Good morning to tLodge!
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  5. #685
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    We used to have a pension (20 year to be fully vested). Also have a 401k, company matches 3%. They implemented age/years with company to keep pension last year, those under were changed to a 401k % contribution (up to 5% gross per year).

    Needless to say, lost my pension in lieu of this not-guaranteed thing. Sure, there's a chance the money dump into the 401k COULD yield more than pension, but I liked the "guaranteed" aspect of the pension.

  6. #686
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Good Morning, MEUSA!
    Good Morning, HP1015!


    Good Morning to the rest of tLodge!

  7. #687
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Our company has both traditional and Roth 401(k) options. We get matched up to 4 or 5%. It used to be 1% higher. They also give us 3% on top of it all. We also have an employee stock program where we get 15% off stock.

  8. #688
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Morning Ralph and the Lodge!

    Day 3 of staying home. Had hubby call my boss as I have a feeling that she does not believe me. Hubby is also going to try to get me a doctor's appointment. The earlier the better.
    Quote Originally Posted by Skeeterman View Post
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  9. #689
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    Quote Originally Posted by dxmnkd316 View Post
    Our company has both traditional and Roth 401(k) options. We get matched up to 4 or 5%. It used to be 1% higher. They also give us 3% on top of it all. We also have an employee stock program where we get 15% off stock.
    I’m old enough to be part of the pension. The 401k & match have been very good, too.
    The ESOP is fantastic. Paid for a big chunk of our cabin and a large portion of our kids education from that money.
    Last edited by Greyeagle; 02-07-2018 at 09:03 AM.

  10. #690
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Iím using the tax cut to buy more and start selling some of my older shares to not oversaturate myself with stock. Iíll probably dump that extra cash into other investments that are more diversified. As soon as the car is paid off, Iím dumping that payment into stock as well.

  11. #691
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by dxmnkd316 View Post
    Our company has both traditional and Roth 401(k) options. We get matched up to 4 or 5%. It used to be 1% higher. They also give us 3% on top of it all. We also have an employee stock program where we get 15% off stock.
    Similar to me. We get 4% company match, but no 3% on top of it all, we have a traditional pension, that is separate from the 401k, instead. Then, we also get ESPP, with a 15% discount, so I put a % towards that each month as well.

    I'm on the verge of paying off my last student loan, and another consumer loan (for our Kinetico water and RO system) that was 0% interest for up to 5 years, so it was a no brainer to take the loan. Then, it won't be too long before my truck loan is done. I am soon going to have a bit more money to work with, and I have to decide how much I'm increasing my 401k contribution, how much to put towards paying extra on the wife's student loans, and how much to put towards renovating the house.
    Last edited by bigblue_dl; 02-07-2018 at 09:34 AM.
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  12. #692
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    Quote Originally Posted by dxmnkd316 View Post
    Iím using the tax cut to buy more and start selling some of my older shares to not oversaturate myself with stock. Iíll probably dump that extra cash into other investments that are more diversified. As soon as the car is paid off, Iím dumping that payment into stock as well.
    We just made our last tuition payment so I want to start moving stock toward other investment vehicles to diversify. I have been pumpmping close to 12-15% into both programs since day one - and Iím probably closer to 22-23% now and itís fun to watch it grow. There are some great opportunities and itís amazing to me how some younger employees donít jump in like you have.

  13. #693
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by Greyeagle View Post
    We just made our last tuition payment so I want to start moving stock toward other investment vehicles to diversify. I have been pumpmping close to 12-15% into both programs since day one - and Iím probably closer to 22-23% now and itís fun to watch it grow. There are some great opportunities and itís amazing to me how some younger employees donít jump in like you have.
    Most younger employees have mountains of student loan debt to pay off before they have the means to do this kind of stuff.
    Having a clear conscience just means you have a bad memory or you had a boring weekend.

    RIP - Kirby

  14. #694
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by Lady wore Black View Post
    Morning Ralph and the Lodge!

    Day 3 of staying home. Had hubby call my boss as I have a feeling that she does not believe me. Hubby is also going to try to get me a doctor's appointment. The earlier the better.
    boo! Hope you feel better soon!

    Quote Originally Posted by dxmnkd316 View Post
    I’m using the tax cut to buy more and start selling some of my older shares to not oversaturate myself with stock. I’ll probably dump that extra cash into other investments that are more diversified. As soon as the car is paid off, I’m dumping that payment into stock as well.
    THis would scare the bejeepers outta me. Old enough to remember 3 market 'crashes'. Lost my shirt in the first one, was patient, let it simmer and eventually it came back not not to the level I would have had if I was a little less aggressive. The second one is just now about even and now we have a third crash simmering. After the election called the financial guy and said I wanted to be more conservative- we have never had a good outcome when all GOP gov't has been in. They do a lot of pro business stuff that businesses love but despite them saying the market will like it, the market only likes it for a bit. Sort of like eating a couple of gallons of chocolate ice cream. Tastes good at first then eventually you vomit. A lot more real now I am not banking in lots of money and basically treading water until I hit real retirement age. So far we have not dipped into the reserve and by being careful have added a bit but... the cars are now 10 yrs old and we have this pipe thing making things interesting.
    Quote Originally Posted by bigblue_dl View Post
    Most younger employees have mountains of student loan debt to pay off before they have the means to do this kind of stuff.
    When I was a kid, and got my first job, dad les sat me down and gave me the lecture. Put something in savings, even if it is only a dollar, with every paycheck. Until I semi-retired I followed the rule. Sometimes it was only 5$. Credit that with our current financial state being OK.

    The recent market volatility thing is scary. Every time there has been a huge bubble they say the same thing- this growth will be sustained because ___________. And then when it starts to get top heavy and wobble it is just a correction because______________. Then when things get worse everyone is SHOCKED!! Just SHOCKED!!

    Good Afternoon Lodge!
    Last edited by leswp1; 02-07-2018 at 12:59 PM.

  15. #695
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by Ralph Baer View Post
    I forgot to post that on 2/2 I received a message from Mrs. Christine Largarde of the International Money Fund that I will get $10.7M. Among a lot of other things: "I was appointed to handle your transaction here in America as Mr Donald J Trump has given me the permission." That has to be true.

    The total is now $117.02M.
    I am getting 20% of $50M from Mr. Jefferson Brown. I know that math isn't allowed here, but that sounds like $10M. The total is now $127.02M.

  16. #696
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by leswp1 View Post
    THis would scare the bejeepers outta me. Old enough to remember 3 market 'crashes'. Lost my shirt in the first one, was patient, let it simmer and eventually it came back not not to the level I would have had if I was a little less aggressive. The second one is just now about even and now we have a third crash simmering. After the election called the financial guy and said I wanted to be more conservative- we have never had a good outcome when all GOP gov't has been in. They do a lot of pro business stuff that businesses love but despite them saying the market will like it, the market only likes it for a bit. Sort of like eating a couple of gallons of chocolate ice cream. Tastes good at first then eventually you vomit. A lot more real now I am not banking in lots of money and basically treading water until I hit real retirement age. So far we have not dipped into the reserve and by being careful have added a bit but... the cars are now 10 yrs old and we have this pipe thing making things interesting.
    When I was a kid, and got my first job, dad les sat me down and gave me the lecture. Put something in savings, even if it is only a dollar, with every paycheck. Until I semi-retired I followed the rule. Sometimes it was only 5$. Credit that with our current financial state being OK.

    The recent market volatility thing is scary. Every time there has been a huge bubble they say the same thing- this growth will be sustained because ___________. And then when it starts to get top heavy and wobble it is just a correction because______________. Then when things get worse everyone is SHOCKED!! Just SHOCKED!!
    The long-term trend has been, and will continue to be up. There will always be volatility, and snippets of time where the general trend is down, or even precipitously down, but even still, when you take the long view, the trend is up. At the ages that DX and I are at, we are still able to look at that long-term trend, and be confident that investing in the market will be a net positive by the time we retire, and if past trends can be trusted, it is likely to be a very significant positive. Where this gets tricky is, when you get close to retirement. When you're old (think...Greyeagle old) then you have to worry about that short term down trend seriously impacting your retirement savings. This is why, as you get close to retirement, it is usually recommended to begin moving into safer investments. At this point in my life, I'll throw a whole bunch into stock, and I'm confident that I'll be able to ride out any downturns and end up on the positive side of the transaction.

    I also have been contributing to the retirement since the day I started working, even though I've had debts to pay off. It is the smart thing to do. The thing is, early on, I wasn't able to invest as much as I would have liked, because of those debts. I invested some, would have liked to invest more.
    Having a clear conscience just means you have a bad memory or you had a boring weekend.

    RIP - Kirby

  17. #697
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by bigblue_dl View Post
    The long-term trend has been, and will continue to be up. There will always be volatility, and snippets of time where the general trend is down, or even precipitously down, but even still, when you take the long view, the trend is up. At the ages that DX and I are at, we are still able to look at that long-term trend, and be confident that investing in the market will be a net positive by the time we retire, and if past trends can be trusted, it is likely to be a very significant positive. Where this gets tricky is, when you get close to retirement. When you're old (think...Greyeagle old) then you have to worry about that short term down trend seriously impacting your retirement savings. This is why, as you get close to retirement, it is usually recommended to begin moving into safer investments. At this point in my life, I'll throw a whole bunch into stock, and I'm confident that I'll be able to ride out any downturns and end up on the positive side of the transaction.

    I also have been contributing to the retirement since the day I started working, even though I've had debts to pay off. It is the smart thing to do. The thing is, early on, I wasn't able to invest as much as I would have liked, because of those debts. I invested some, would have liked to invest more.
    Agree the trend in the long run will be up but the question when you invest in stock is will the kind you invest in go up. Until this past yr it was brilliant to invest in clean energy and anything scientific. Now if it is international maybe but not domestic. WOuldn't want to be one of the guessers right now. The rest of the world is still on a trajectory that is forward thinking but domestically we are doing nothing logical. Considering we are a large hunk of the global economic world it must sort of be looking at a car with 3 wheels driving forward and one wheel that is freewheeling, no direction is out of question.

  18. #698
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by leswp1 View Post
    Agree the trend in the long run will be up but the question when you invest in stock is will the kind you invest in go up. Until this past yr it was brilliant to invest in clean energy and anything scientific. Now if it is international maybe but not domestic. WOuldn't want to be one of the guessers right now. The rest of the world is still on a trajectory that is forward thinking but domestically we are doing nothing logical. Considering we are a large hunk of the global economic world it must sort of be looking at a car with 3 wheels driving forward and one wheel that is freewheeling, no direction is out of question.
    But, even then, in the long run a 4 or 8 year blip doesn't really hurt you.
    Having a clear conscience just means you have a bad memory or you had a boring weekend.

    RIP - Kirby

  19. #699
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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    There have been two times since 1950 where the S&P 500 has had negative returns over 10 years. And it hasnít had negative returns over 15 years even once since 1950.

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    Re: Rep Retirement Lodge 194: What to do now that winter has really started?

    Quote Originally Posted by Greyeagle View Post
    We just made our last tuition payment so I want to start moving stock toward other investment vehicles to diversify. I have been pumpmping close to 12-15% into both programs since day one - and Iím probably closer to 22-23% now and itís fun to watch it grow. There are some great opportunities and itís amazing to me how some younger employees donít jump in like you have.
    Itís free money. I know some people that max it out every year for the ESPP. 401(k) maxing is probably not always the smartest thing which is what a lot of people try to do. Hit the free money first. Then diversify your tax liabilities. Spread things out between tax advantaged, tax deferred, and traditional non-tax advantaged. You canít touch your retirement accounts until youíre 59.5, so having something you can liquidate without penalty is a good thing.

    My dad and I have been working on this for years. Making sure I have a balanced, yet aggressive approach. In 20 years I can start dialing back on the aggressive securities. Heís a brilliant man that knows financial planning more than all but a handful of CFPs in the state. Iím convinced of this.

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