IAM Pension Fund
- Thread starter JABORD
- Start date
roabilly
Veteran
- Joined
- Feb 17, 2008
- Messages
- 2,136
- Reaction score
- 2,355
WeAA...
The three thousand was a very rough pre-tax idea of what a 30 year plus US Fleet Service IAMNPF participant could expect to receive for life at retirement, if they were in the fund for the entire 30 years...
The 401k, and social security would be ADDITIONAL monthly income...
A smart Member that prepared, could easily get upwards of five or six grand a month using the three legged stool concept...
P.S. You would live like a king in places like Costa Rica on that money!
The three thousand was a very rough pre-tax idea of what a 30 year plus US Fleet Service IAMNPF participant could expect to receive for life at retirement, if they were in the fund for the entire 30 years...
The 401k, and social security would be ADDITIONAL monthly income...
A smart Member that prepared, could easily get upwards of five or six grand a month using the three legged stool concept...
P.S. You would live like a king in places like Costa Rica on that money!
robbedagain
Veteran
- Joined
- Oct 13, 2003
- Messages
- 11,125
- Reaction score
- 2,676
I guess josh its easier for a banker like you at jp can survive in a city such as bos or mia but I guarantee u this the cost of living in clt area is hell of a lot cheaper and thus a lot more manageable than you are willing to admit
robbedagain said:
True but my point its unfair that other public sector unions are collecting annual pensions in the six figure range when you guys are barely getting by (as a result of bankruptcies and concessionary agreements). I know many here are quick to come to the defense of the public employees but are they really your "brothers and sisters"?
Josh
WeAAsles said:
Doesn't suck to be me, only sucks to fly USdbaAA with all the awful changes.
My point is $3000/month is hardly enough to get by. Unions once prided themselves in providing a solid middle class standard of living with a solid retirement available at the end of ones career. You all vigorously defend public sector employees "brothers and sisters" with cushy pensions far in excess of what you are offered. My expectations and perspectives have nothing to do with it, I'm simply pointing out that you all shouldn't think you hit the lotto with IAMNPF like many here seem to believe.
Josh
WeAAsles
Veteran
- Joined
- Oct 20, 2007
- Messages
- 24,123
- Reaction score
- 5,269
I'm sorry but you don't come off as exactly the happiest fellow I've ever read things from. I'm guessing that you have quite a few personal issues that just can't seem to work themselves out for you? I'm usually quite good at guessing things about people and I'm pretty sure I got you pegged.737823 said:
As another human being I'm very sorry for all the misery you have in your life. Keep praying brother.
Dilligas
Veteran
Don't count on your piddly 401-k plans financing anything other than dog food. Stay on a payroll as long as you can, whether its for the airline or anyone else.
The country is broke, friends, and the time will come that taxes will be raised greatly to finance the government. That's in addition to the possibility that private IRA's and 401k plan assets may be seized. Do a little research. All that money you socked away tax free until retirement, will most likely be taxed at a higher rate when you are ready to start withdrawals, not at a lower tax rate as many were led to believe. Tax rates have to go up, and they will. Who's going to pay for this entitlement culture of everyone and his cousin on the government dole that is increasing exponentially each year... the workers paying payroll taxes, the people that saved and start withdrawals, that's who.
Plus rampant inflation will make your daily living expenses higher than today, not lower. We face the greatest financial meltdown in history, and it is unavoidable. The government just loves you avoiding taxes today to build them a pile of cash you will pay them higher taxes on in the future when you need to tap it.
If you are younger and healthy, buy the largest whole life insurance policy you can afford. Add to it as your financial situation improves. Use it as your own private tax free retirement nest egg... borrow from the built up cash value of the policy late in life, (you don't have to repay it, it just reduces the death benefit) = tax fee withdrawals, death protection during your career, and a nest egg for you and your heirs, passing tax free, no complicated tax rule required, just your privately financed retirement.
The 401k is a con job. Best advice... stay on a payroll, the American dream of a leisurely retirement is dead and long gone. Crunch the numbers, do the research!
The country is broke, friends, and the time will come that taxes will be raised greatly to finance the government. That's in addition to the possibility that private IRA's and 401k plan assets may be seized. Do a little research. All that money you socked away tax free until retirement, will most likely be taxed at a higher rate when you are ready to start withdrawals, not at a lower tax rate as many were led to believe. Tax rates have to go up, and they will. Who's going to pay for this entitlement culture of everyone and his cousin on the government dole that is increasing exponentially each year... the workers paying payroll taxes, the people that saved and start withdrawals, that's who.
Plus rampant inflation will make your daily living expenses higher than today, not lower. We face the greatest financial meltdown in history, and it is unavoidable. The government just loves you avoiding taxes today to build them a pile of cash you will pay them higher taxes on in the future when you need to tap it.
If you are younger and healthy, buy the largest whole life insurance policy you can afford. Add to it as your financial situation improves. Use it as your own private tax free retirement nest egg... borrow from the built up cash value of the policy late in life, (you don't have to repay it, it just reduces the death benefit) = tax fee withdrawals, death protection during your career, and a nest egg for you and your heirs, passing tax free, no complicated tax rule required, just your privately financed retirement.
The 401k is a con job. Best advice... stay on a payroll, the American dream of a leisurely retirement is dead and long gone. Crunch the numbers, do the research!
