QA/Compliance officer.
Over $10,000 USD and less than $1 million USD per year.
$155k/yr, Financial Services Attorney. Underpaid in my field, but awesome hours (typically about 45 a week), so I'm content.
All this pension, 401(?), retirement stuff is just mind boggling. It's really really sad that people have lost so much self control that they can't be trusted with saving their own money for the future.
Aircraft Technician
$97k base
9.7% 401k matched
9% profit sharing this year
6 weeks vacation
40hrs week
Could easily pull 30-50% more with OT but I like spending time with the family. We have guys pulling 1300 OT hrs/yr over here but of course they have no wife/children.
About 2000hrs of instruction is required to take the tests for the FAA airframe and power plant license. There are colleges that offer courses but you can get the required hours in the military.
For my airline you will need at least 5 years of heavy aircraft experience to apply. It's not an easy field to get into and I'd never recommend it to anyone.
All this pension, 401(?), retirement stuff is just mind boggling. It's really really sad that people have lost so much self control that they can't be trusted with saving their own money for the future.
Sadly, there's no eleventy billion /yr option
lol what? i'm not following how working more than 5 hours over fulltime is "awesome hours".
free money boggles your mind?
my company contributes 8% on a 401k (even without me putting anything in).
but even if i had to contribute for them to match, that means my salary is instantly 8% larger than my base salary, and also means i'm saving 16% of my base salary by only contributing 8% of my base salary on my own.
When did people ever have enough self control to save for the future? I'll sit back and wait for an answer......(period specific if you can find it).
Well, even if you are one of the crazy people that think humans have only existed for 2000+ years, you can't possibly think that 401's have been around that long? It's sort of obvious that prior to 401's, humans did fine in old age since we still exist.
So you can't answer the question. Your answer is that humans did fine in old age? When did people save for their own retirement and old age on their own? Did those old age people, who lived much shorter lives, thrive and have a better lifestyle than older people do now?
Again, when did people save for their own retirement and old age and do fine with it?
Why can't they just give you that 8%? Do you believe you would mishandle it more than they do? That's my point. I think you would do a better job of investing/saving that 8%.
The account owner (employee) controls the investment options within the account, so the company mismanagement point is moot. Additionally, that 8% is untaxed, which saves both employee and employer money, and investment returns are untaxed. Basically it's 100% beneficial with no downsides and no reason whatsoever to claim the matching is a big corporate conspiracy.
Not untaxed - tax deferred.
The account owner (employee) controls the investment options within the account, so the company mismanagement point is moot. Additionally, that 8% is untaxed, which saves both employee and employer money, and investment returns are untaxed. Basically it's 100% beneficial with no downsides and no reason whatsoever to claim the matching is a big corporate conspiracy.
Within the account is your key words there. If all the options are losing money, the only choice the employee has is how much to lose.
So you believe if you were given an extra 8% salary, that's a bad thing?
I disagree with everyone here about the state of our tax system and that's ok, we can just ignore that part.
Will you still need to work to pay off her debt from med school?
Cool ....except I spent $12.5k out of the HSA last year. $6,500 in....woot....?Unless you do a HSA "stealth IRA", where you put money tax-free into an HSA that allows for stock investments, save all your medical receipts over the years but don't take money out of the HSA, then when you retire use those past medical expenses + new medical expenses to withdraw HSA money tax-free. Voila, no tax going in or coming out.
http://whitecoatinvestor.com/retirement-accounts/the-stealth-ira/
But you gotta have HDHP plus an HSA that support that type of investment. I don't have HDHP anymore so I can't do it Oh well, I like $0 deductible health insurance too.
I've never seen a 401k plan or SIMPLE IRA without a CASH ONLY option (i.e. sell it all). If you don't like what a company does or doesn't do that's fine...you can always go out and open your own accounts up on the side. My wife and I fully fund IRA's each year (with thousands of choices of what to do with the money) as well as fully funding my SIMPLE IRA at work and her pension at her employer. Not sure what you're shooting for here. We've already been pushed from lifelong pensions to defined contribution plans with tax benefits. Sounds like you want the company instead to give the employees what little they are already giving (the match) and then you go and do what you want with it (almost sounds like you don't think taxes should be used as an incentive to get people to save more).
Bolded is exactly what I'm saying the employee should have the option to do. If the employee wants to jump into a 401, go for it, if they don't, then don't force them to. It being mandatory[/B] is what I have a problem with.
I don't know all the differences between the 401 plans or what constitutes it being simple or not. I'm under the impression that the employer gets to write the 401 terms.
I have a number of friends in academia that constantly gripe about their crappy mandatory 401 plans. One of them had hundreds of thousands in his plan (been faculty for 30 years) but had to declare bankruptcy due to a lifesaving operation his wife had to have but couldn't pay out of pocket for. They would not even let him take out ANY amount of a loan against his 401. To me that's pretty F'd up.