UAL B Fund
04-29-2016 | 05:23 PM
#21
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Joined: Jul 2014
Posts: 872
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At what point is this excessive?
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
04-29-2016 | 06:26 PM
#23
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Joined: Jul 2015
Posts: 859
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Thanks guys, great advice all around.
I plan on fully investing in the company retirement plan. I am doing 5% extra right now on first year pay, then plugging some more in next year. That will put me at about 26% of my w2 in retirement savings, which when I plug it in as a rough estimate shows me at around 7 million bucks. Next year alone should net 39k in retirement contributions, equaling 9 years of fully vested company matching and contributions from my regional days.
I just think that if I have a second gig I wont be putting 53 k MORE! into retirement vehicles, rather reinvesting into other areas like real estate, etc.
There should be a pilot investment club, all the FO's buy the Captains beer while they tell them all the things NOT to do! (and what worked)
I plan on fully investing in the company retirement plan. I am doing 5% extra right now on first year pay, then plugging some more in next year. That will put me at about 26% of my w2 in retirement savings, which when I plug it in as a rough estimate shows me at around 7 million bucks. Next year alone should net 39k in retirement contributions, equaling 9 years of fully vested company matching and contributions from my regional days.
I just think that if I have a second gig I wont be putting 53 k MORE! into retirement vehicles, rather reinvesting into other areas like real estate, etc.
There should be a pilot investment club, all the FO's buy the Captains beer while they tell them all the things NOT to do! (and what worked)
04-29-2016 | 07:56 PM
#24
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Joined: Oct 2012
Posts: 1,061
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From: 737
04-30-2016 | 03:24 AM
#25
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Joined: Feb 2011
Posts: 3,866
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04-30-2016 | 08:05 AM
#30
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Joined: Jan 2015
Posts: 188
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From: EWR 777 FO
I think your being overly optimistic on your average return over the next 30 years. Not saying its impossible, but not a high probability. I would use 5-6 percent in your calculators. Don't forget also in 30 years at 3% annual inflation your money will be worth roughly 2.5 times less than it is today. I'm maxing my personal contribution out and am 70% likely will be around 6 mil at the end of my 33.5 year career. Thats only 2.4 mil in todays dollars. Better to be overly prepared than under prepared. Especially when we don't have the ability to work longer if we need to.
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