Start that 401k, also do not forget to add the deduction into your non Roth (post tax). Save yourself by entering into a lower tax bracket.
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UPS Starting 401k!!
UPS, one of the world’s largest package delivery companies, has announced that it will be starting a 401k retirement plan for its employees. This is great news for the thousands of UPS employees who will now have the opportunity to save for their future and ensure a comfortable retirement.
The 401k plan is a tax-advantaged retirement savings account that is sponsored by an employer. Employees can contribute a portion of their paycheck to their 401k account, and in many cases, the employer will also make contributions on behalf of the employee. The money in the 401k account can then be invested in a variety of options, such as stocks, bonds, and mutual funds, to help it grow over time.
For UPS employees, this means that they will now have a valuable tool to help them build a secure financial future. By participating in the 401k plan, they will be able to save and invest their earnings for the long term, and take advantage of the tax benefits that come with the account. This will help them to supplement their Social Security benefits and any other retirement savings they may have, and ensure that they can enjoy a comfortable lifestyle in their later years.
The decision to start a 401k plan is a significant step for UPS, and it reflects the company’s commitment to the well-being of its employees. It also demonstrates UPS’s recognition of the importance of retirement savings, and its desire to help its employees prepare for the future.
In addition to the financial benefits, starting a 401k plan can also have positive effects on employee morale and satisfaction. By offering a retirement savings plan, UPS is showing its employees that it values their long-term financial security and wants to support them in planning for their future. This can lead to increased loyalty and engagement among employees, as well as a more positive work environment overall.
Overall, UPS’s decision to start a 401k plan is a positive development for its employees. It will provide them with a valuable opportunity to save for their retirement and build a more secure financial future. This move reflects UPS’s commitment to its employees and their well-being, and demonstrates the company’s dedication to being a responsible and supportive employer. As a result, UPS employees can look forward to a brighter future and a more secure retirement.
Thank you. Im a part time package handler doing 20% roth
Thanks mate
Tour videos helped me when I 1st started as a driver.
Shit I wish I was is the 24 percent
Do UPS also match the 401k for the union guys?
I don't know if it is still the same as when I was a driver back in the 90's, but neither UPS or the Teamsters contributed to my 401-k. It was all on me.
How do u even pull from that after tax? I couldn't find it on the site. I wanted to borrow a bit myself
White’s moctoe boots
Mike. I know mike. I work with two mikes on the road, I also have two mikes as supervisors
Does ups do any contribution matching?
Thorogood boots are my favorite!!
401k? UPS gives a pension and a 401k man.
No match so poor investment
Really enjoying the content but tax brackets work a bit differently than how you explained. Any income from ~$40-85k is taxed at 22%. If you made $87k, only that last ~$2k you earned would be taxed at the higher tax bracket (24%).
Bro you’re the only driver that has financial help on YouTube
This was very informative. I’ve been a driver since 03 and I’m only putting a very small amount into my 401k . I find it intimidating because it’s all online and there’s no one to ask. I’m not a computer wizard.
Just started as a package handler, do I have to wait to be union to start a 401k and is it true they don't match? Thats a bummer.
I max out %35 just added the %5 after tax thanks for the tip
They don’t match!!!
Believe it or not doc martens have to be the most comfortable ones I’ve used and sturdy
i’m sure UPS has people you can go see or call on the phone for anything financial or benefit related. at fedex we have vanguard. does ups have an app for employees where you can do all this stuff? we have an app called evive which is basically just a giant portal for everything benefits and perks. the best people to talk to about this kinda stuff are old timers and the people in this specific department.
I use red wings man. With some in-souls
Thanks for the info Chris, I am new driver who just graduated and this tip will come in handy in year to come!
Ecco Exostrike brown or black
You reccomend going in as a 22.4
Hello, UPS Chris! Love the company, love the service, but the only reason I'm here is because you're FINE! Well, not the only reason. I'm learning about shipping for my company. But you're a cutie pie. Just saying.
Do ups drivers ring your doorbell when packege is delivered or leave it in mailbox first time using ups
Bates boots are the best
Hi tech boots- good boots
I recently just started as a package car driver at UPS, I purchased a pair of stellar tac waterproof under armor boots, they are lightweight and seem promising.
i have a roth 401k at ups because i'll rather pay taxes now and the growth is tax free vs a pre tax 401k where you dont pay taxes now but when you take it out you pay taxes on the growth and what you put in.