Battery based vehicles of today and tomorrow pt 2

[MossRoad]

It really depends...

When HR announced the implementation of a 401k match... the change was celebrated ;-)

When HR announced the freezing of the pension and going to 401K, loud grumblings ensued from everyone in the pension older than 25.

 

[Oaktree]

Nice coal article. Thanks. It is indeed hilarious how many feel the need to buck all things new. Old fogyism and pessimism are 2 things i hope i do not contract. They seem to be contagious too. Sad. EVs are the wave of the future - and a really cool thing on top of that.

Maybe, maybe not. The trick is to balance acceptance of new technology with a healthy skepticism of hype. Not everyone wants or needs to be the first on their block to adopt the latest gadgetry.

 

[ultrarunner]

When HR announced the freezing of the pension and going to 401K, loud grumblings ensued from everyone in the pension older than 25.

No one in my family and extended has ever had a pension… I was the first with a 401k which through mergers and takeovers failed to perform…

I would see a nice little nest egg building and the we would be sold and I would be 30% vested so 70% vanished into the ether.

The same desk rules didn’t apply even being I was at the same desk… ???

 

[MossRoad]

No one in my family and extended has ever had a pension… I was the first with a 401k which through mergers and takeovers failed to perform…

I would see a nice little nest egg building and the we would be sold and I would be 30% vested so 70% vanished into the ether.

The same desk rules didn’t apply even being I was at the same desk… ???

I think I’ve mentioned my last employer had a pension when I was hired in 87, and a 401K, but you had to have a full calendar year in before you could join it. So I wasn’t able to get into it until April of 89.

Anything I put in and any gains on my money was mine to keep should something happen before vesting. Company match and gains on that could have gone away. It was still a good deal if that would have happened.

 

[Oaktree]

No one in my family and extended has ever had a pension… I was the first with a 401k which through mergers and takeovers failed to perform…

I would see a nice little nest egg building and the we would be sold and I would be 30% vested so 70% vanished into the ether.

Both of my parents had pensions (well, my mother still receives hers, as well as survivor benefits from my father's). One of my sisters put in her 20 working for the state of Mass. and has a Mass. employees pension. Other sister and I, nada.

The one company I ever worked for that had a pension had a rep for either laying you off or making you so miserable you quit as you approached the anniversary at which you became vested. Probably illegal, but try and prove it. They're no longer in business so moot point. Come to think of it, with the exception of a supermarket chain I worked p/t at for a couple years when I was between jobs, not one company I ever worked for as an employee is still around. Was it something I said?

 

[Buggs67]

No one in my family and extended has ever had a pension… I was the first with a 401k which through mergers and takeovers failed to perform…

I would see a nice little nest egg building and the we would be sold and I would be 30% vested so 70% vanished into the ether.

The same desk rules didn’t apply even being I was at the same desk… ???

When my wife became a teacher in the early 80s no one wanted to do it because it paid so bad. The male teachers trying to support a family worked two jobs. And in 40 years, even with a masters and 40 extra credits she has never earned more than me.

When I was working people would say "I don't know how you do that" or "I'd never be a cop". As they were making as much or more than me.

But as soon as we retired they envied and resented the pensions we'd worked for.

BTW in 86 I started work at GAF Corp. And we had a nice pension plan. When the Chairman took the company private with a Junk Bond LBO he converted that to a 401k. And most employee perks disappeared.

 

[MossRoad]

ROTH IRA’s are great tools if you don’t have a pension plan or a 401K plan at your employer. Heck, they’re a great tool if you DO have a pension or 401K. We’ve had IRA’s since before we were married, and the first year we were eligible to convert them to ROTH we did. That was over 20 years ago. Time flies.

Another good tool is 529 college savings plans.

My only advice for young people is to START INVESTING YOUNG!

Just 7-8 years earlier start can make a 2X difference at the end.

As in, if you start investing at age 28 and manage to save up a million bucks by 65, if you’d have started when you were 21 you’d have closer to two million bucks.

START YOUNG!

 

[MossRoad]

When my wife became a teacher in the early 80s no one wanted to do it because it paid so bad. The male teachers trying to support a family worked two jobs. And in 40 years, even with a masters and 40 extra credits she has never earned more than me.

When I was working people would say "I don't know how you do that" or "I'd never be a cop". As they were making as much or more than me.

But as soon as we retired they envied and resented the pensions we'd worked for.

BTW in 86 I started work at GAF Corp. And we had a nice pension plan. When the Chairman took the company private with a Junk Bond LBO he converted that to a 401k. And most employee perks disappeared.

My mother and two siblings were/are teachers. They all had decent salaries and good pensions/benefits when they worked for public schools. Catholic schools pay about half around here.

 

[Buggs67]

My only advice for young people is to START INVESTING YOUNG!

Just 7-8 years earlier start can make a 2X difference at the end.

As in, if you start investing at age 28 and manage to save up a million bucks by 65, if you’d have started when you were 21 you’d have closer to two million bucks.

START YOUNG!

Very True. My cousin who's had a good life and good kids (and grandchildren) recently lamented that she just wished she'd planned better for retirement and saved more. I'm thinking she is going to have to rely on SS and maybe part time work.

 

[ultrarunner]

START YOUNG!

The elusive pension... in my case I took a pay cut to get in on the retirement plan and perks.

It just never worked out because of ownership changes or with my one union job at the Tool and Machine is no more.

The rules have changed some over the years... I don't think 10 year vesting and 20 min years of service exists...

Had I worked the same under the new rules it would have made quite a difference on the plus side.

Still wonder where did the money go that was in my accounts but not vested?