Minimum Balance Plan

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11-16-2022, 07:07 PM

#371

Gunfighter

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Joined APC: Apr 2007

Posts: 4,460

Quote:

Originally Posted by notEnuf

That pile of cash buys the income stream. I dream of owning a lemonade stand on the moon. I haven’t found on for sale yet so more cash on the pole for now. Just in case I’ll live off the pile when I shift to income from growth. We get what you are saying but I cashed out for peace of mind and time recovery. I’ll be fine but I won’t be doing pouring over financials or syndicated deals or trying to raise financing anymore. I’d rather spend my time studying the feeding habits of trout and getting my A&P.

I just threw up a little. If you stay off the pole I'll vote for the MBCBP and Min Balance.

Typos aside we're heading for similar goals. We just have differing approaches to reach them. I have years of turning wrenches, but never went the extra distance for my A&P. I'm all for allowing you the choice for MBCBP, but won't support mandatory MBCBP. Those taking a different path also deserve a choice.

11-16-2022, 07:19 PM

#372

notEnuf

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Joined APC: Mar 2015

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Posts: 10,034

Quote:

Originally Posted by Gunfighter

I just threw up a little. If you stay off the pole I'll vote for the MBCBP and Min Balance.

I’m generally for choice. On retirement we have an intent for the DC and an ask for additional DC. We need a vehicle for those funds or we don’t have a legitimate argument for additional DC because it just ends up as wages anyway. The green slip fountain will dry up and the hourly rates will be range bound by our peers. Profit Sharing and DC increases are the only break out potential for earnings. We are hobbling ourselves by not having this vehicle.

I edited it too late. I’m going to threaten my Speedo pics if you don’t vote for MY (really our) plan.

11-17-2022, 07:32 AM

#373

O R C A

Line Holder

Joined APC: Jul 2022

Position: 220

Posts: 25

At risk of speedo pics

I am looking to purchase a home in 2023, and current interest rates are 7%. Do I want to lock excess money into a guaranteed 5%?

Option A: NO
Option B: NO as well

11-17-2022, 08:29 AM

#374

notEnuf

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Posts: 10,034

Quote:

Originally Posted by O R C A

At risk of speedo pics

I am looking to purchase a home in 2023, and current interest rates are 7%. Do I want to lock excess money into a guaranteed 5%?

Option A: NO
Option B: NO as well

With the mortgage interest deduction effectively gone, it doesn't matter. I don't know the details, 5% was thrown out as a minimum. There will be some market float but it will track closer to interest rates than equities.

11-17-2022, 12:00 PM

#375

connollc

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Joined APC: Aug 2013

Posts: 119

Quote:

Originally Posted by notEnuf

If you make $330K or less it's a moo point. What portion of the group will make more than that in 2023?

Question for clarification…if/when one reaches the 415c limit of $66,000 (2023) before the end of year, any company contributions are also then dispersed as DPSP excess cash, correct? So there are two limits to reference wrt DPSP excess, the 415c limit and the income limit of $330,000.

11-17-2022, 12:20 PM

#376

notEnuf

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Posts: 10,034

Quote:

Originally Posted by connollc

16% of $330,000 is $52,800. 20% of $330,000 is $66,000 should we get that as a DC. You will not exceed the limit unless you make individual contributions that exceed the difference. Some people front load the 401k to force excess cash. There’s an ALPA R&I email out that explains it. I got it today.

11-17-2022, 12:29 PM

#377

crewdawg

Super Moderator

Joined APC: Jul 2006

Posts: 5,557

Quote:

Originally Posted by connollc

Question for clarification…if/when one reaches the 415c limit of $66,000 (2023) before the end of year, any company contributions are also then dispersed as DPSP excess cash, correct? So there are two limits to reference wrt DPSP excess, the 415c limit and the income limit of $330,000.

Correct. This distinction is why many of us oppose the plan to send excess into the underwhelming plan that's being talked about.

11-17-2022, 12:31 PM

#378

bugman61

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Joined APC: Oct 2014

Posts: 891

Quote:

Originally Posted by notEnuf

Or if you make more that $330,000. Which many people do today, and even more will do under a hypothetical new contract that will have significant raises.

11-17-2022, 01:59 PM

#379

NavyFlyer

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Joined APC: Mar 2014

Position: Cirrus CA

Posts: 224

Quote:

Originally Posted by Trip7

Anybody else goal is to have more liquid money/assets than you have in retirement accounts? Overall I think too many people focus on retirement in 50s and 60s and not enough on Financial Freedom in the near future. Keep working hard, fill up that 401k but you can't touch it in large amounts until 59 1/2 without massive penalties. It's almost as if it's a vehicle built to shackle folks into working til their old.

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You get it.

This is why I like my excess coming to me and not the MBCP. I invest it in my own brokerage account.

So that I can live off that $$$ and work less for DL until I start drawing from my 401k at 59.5 yo.

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11-17-2022, 02:10 PM

#380

NavyFlyer

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Position: Cirrus CA

Posts: 224

Quote:

Originally Posted by boog123

Really original, used quite a bit of critical thought on that. Who exactly is he? The only people I know with those kind of “things” have family money, family business, spouse with great job. You sound a little bitter. What’s up?

Really? When I was an FO I had many CA’s claim to be DZ’ers that had exactly that… or more. And they proudly showed me the photos of their toys and 401k balances.

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