What do you do & how much do you make?

[rsbennett00]

Mandatory 401k? I guess I'll take your word on it but there's nothing that I know of forcing you to do the 401k plan. As for your friend that took bankruptcy, not sure what to think about that one. You can get hardship 401k money per IRS rules and medical is one of them. That story doesn't add up. And I'm not sure your friends in academia even have a 401k plan. Most likely a 403b or 457 plan, typically found in government and school jobs. Don't know the rules on those though.

The 401k was NOT created as a retirement vehicle for the masses, it was intended to be a tax break for the rich. Once employers found out that they could shift the burden of funding retirements from pensions (employers) to the employee, especially by enticing them with a small match, the race to do it was on. There's no law that states that the company even has to do a match with a 401k (I've lost mine in the past with the bad economy).

If you want to tax defer your savings, then you play by the 401k rules. If not, don't put your money in there and do something else with it. Nobody is forcing you into contributing to a 401k plan, but most companies will give you ZERO match if you put ZERO in. That's your choice to put ZERO in, not the company's choice to force you into it.

I asked and yeah it's a 401a. So I take it that's massively different from other 401 plans, that's part of why this is so confusing and I want nothing to do with it. I'll go with you guys and stop thinking 401's are all bad, just some of them.

 

[repoman0]

I asked and yeah it's a 401a. So I take it that's massively different from other 401 plans, that's part of why this is so confusing and I want nothing to do with it. I'll go with you guys and stop thinking 401's are all bad, just some of them.

Maybe this is why you and I are in a different boat too -- I have both a 401a and 403b through my company due to it being a non-profit, and the investment options available are pretty much anything -- any index fund, mutual fund, bond etc. available through a couple of large investment firms. Hence, the viewpoint about losing money being entirely on the account owner.

I was thinking about what you said about why companies choose to match a percentage into a retirement account rather than just give the employee the extra money and I don't really know why. I think it has a lot to do with that being what most employees want out of a company, and also companies don't have to pay taxes on that match percentage (?) so maybe they can afford to overall pay the employee more in the case.

 

[purbeast0]

only on ATOT would people have a problem with free money.

 

[Zeze]

only on ATOT would people have a problem with free money.

Are tips considered free money?

 

[WhoBeDaPlaya]

Are tips considered free money?

Only if they're not the ones that come with Big Sausage Pizzas

 

[rudeguy]

looks like I'm IT again this week.

Should I ask for a raise?

 

[Bubbleawsome]

They say school is my full time job but the pay is crappy.

 

[mammador]

digital marketer.

only starting, so so-so. but this will improve. want to be making 100,000 a year in 5-10 years (pounds sterling that is).

 

[MetalMat]

Sales. With the Oil & Gas industry tanking business has been shitty as of recent though

 

[Excelsior]

75K a year, salary. With just an associates degree. Work as a Radiation Therapist overseas now, Caribbean.

 

[chihlidog]

Automotive service advisor. right about 50k.

 

[brianmanahan]

75K a year, salary. With just an associates degree. Work as a Radiation Therapist overseas now, Caribbean.

im so jelly :\

 

[Avalon]

$65k, Programmer Analyst II. Work in FL. Cost of living is cheap. Looks like I'm a bit below average compared to the rest of you on ATOT.

 

[dafatha00]

lol what? i'm not following how working more than 5 hours over fulltime is "awesome hours".

Awesome hours for an attorney. That should've been implied. You do realize most people who work in the legal field typically work 60+ hours a week?

Not to mention, I get discretionary paid vacation. I took 5 weeks off last year.

 

[brianmanahan]

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.

this does not compute. pension and 401k match are in addition to the money that you make... which you are free to save!

in addition to the %40-%50 of my salary that i save, the company throws on about %10 in pension contributions and %6 in 401k matches every year. the extra %16 they give isn't sad, it's great.

 

[Annisman*]

Little over 60k/yr which is pretty good living in WNY. I feel very blessed as I only have a G.E.D. (Chemical Operator). Some of the guys I work with make 100k+/yr but have to work plenty of overtime to do it. I'm happy with my 40 hours a week !

 

[velillen]

I work for the Department of the Navy fixing nuclear powered aircraft carriers and submarines. Im a Nuclear Insulator by trade but have done quite a few other things. Think my base salary is 65k/yr or so. But almost always will end up with a minimum of 100 hours of overtime a year for one reason or another. You can volunteer to work more and theres guys working 1000+ hours of OT a year. Ive had a couple years over 85k just in wages with my OT.

Not to shabby for just a high school diploma. Though ive been thinking of going back to school just dont know what for

 

[Excelsior]

im so jelly :\

Just a bit fortunate really. The field isn't so great to get into at the moment. It's been good to me though.

 

[brianmanahan]

Just a bit fortunate really. The field isn't so great to get into at the moment. It's been good to me though.

i mainly just meant about the carribean

 

[NuclearNed]

I've been filling 2 different positions for several years: Business Systems Analyst, and SAP Basis Admin

I work in eastern TN, so I take my salary in chickens, produce, and sexual favors.

 

[highland145]

I've been filling 2 different positions for several years: Business Systems Analyst, and SAP Basis Admin

I work in eastern TN, so I take my salary in chickens, produce, and sexual favors.

What does Perk for raconteur?

 

[WackyDan]

$184k for 2014.... Sales Engineer for an IT security Platform. Base of $111K.

 

[dave_the_nerd]

ATOT has higher unemployment (4.63%) than 16 US states. (At this time.)

 

[Aharami]

85K/yr from 9-5 job (IT Systems Analyst); 15k/yr from weekend job (photographer). With some luck, hoping to grow the side job into my main source of income within a few years

 

[Excelsior]

i mainly just meant about the carribean

Well it has its ups and downs. Waking up to the ocean every day is great as is hearing the waves crash outside my window. But the roads are terrible, selection of goods limited and expensive, and island fever is real. The entire island is 1/5th the size of my home county.