November 23, 20169 yr If an employer loses good employees over benefits it will have to change or replace good employees with newbies. You think companies are not replacing good employees with newbies now regardless of the benefits they provide? You could add this into the new Overtime rules thread as well. Most companies are trying to get out of the benefit business, not improve what they offer.
November 23, 20169 yr You think companies are not replacing good employees with newbies now regardless of the benefits they provide? You could add this into the new Overtime rules thread as well. Most companies are trying to get out of the benefit business, not improve what they offer. I don't know what industry you're in, but the competition in my industry has employers always evaluating and strengthening their benefits packages. And I know of no employer that would not rather retain a good employee than have to go through the expense of hiring and training a new worker.
November 23, 20169 yr I don't know what industry you're in, but the competition in my industry has employers always evaluating and strengthening their benefits packages. And I know of no employer that would not rather retain a good employee than have to go through the expense of hiring and training a new worker. I surely don't doubt what you are posting about your situation. However, my wife works for a major Cincy area bank, been there going on 40 years and she works with branch managers all day long every day. She says there is NO way these folks are receiving the training they need to manage. Basically when the older established manager leaves/retires, they are being replaced by young sales people with no idea what it takes to manage a bank branch. My wife feels as though she's training these folks on the fly and that is not her job. She feels that her employer has been dropping the ball on the quality of replacement employees for the last few years.
November 23, 20169 yr I don't know what industry you're in, but the competition in my industry has employers always evaluating and strengthening their benefits packages. And I know of no employer that would not rather retain a good employee than have to go through the expense of hiring and training a new worker. My company has tightened the belt on a lot of benefits. They took away our company cars, raised our part of insurance (I know theirs went up as well). Some employees chatted that the companies have the upper hand now because of the lack of quality employment opportunities. As the economy shifts, the employees will have the upper hand and benefits will improve in order to gain or retain employees. Time will tell.
November 24, 20169 yr The economic uptick has to help struggling pension funds and state retirement funds, too.
November 24, 20169 yr Mine is returning 2% the past couple of years. I am meeting w/ our financial guy 1-on-1 next week to discuss this b/c that return is a joke. I'm taking my future 401(k) contributions and getting multi-families. The return on money seems much better. YIKES! I'm no financial wizard, but that is really low and I agree with Clyde. Just checked mine and all our over 10% for the past 5 years. You're either in way too conservative of a fund (i.e. money market) or you've got the wrong cat doing the investing. Best thing that ever happened to me was when I left my long-time employer and took my 401k to a self-directed IRA ie I get to pick the investments vs counting on some other guy. My 401K is with Vanguard and they have these same target date retirement funds, but I've never went this route.
November 25, 20169 yr Ive had a 401k for five years, so that will be my retirement. Then your retirement is growing. 25 more years of paying into it and you will have a good retirement.
November 25, 20169 yr Mine is returning 2% the past couple of years. I am meeting w/ our financial guy 1-on-1 next week to discuss this b/c that return is a joke. I'm taking my future 401(k) contributions and getting multi-families. The return on money seems much better. There hasn't been a ton of money to be made the past few years. If you can get to a 6% return that is very good.
November 25, 20169 yr Then your retirement is growing. 25 more years of paying into it and you will have a good retirement. Idk, these guys in here have me thinking I need to change something.
November 25, 20169 yr Idk, these guys in here have me thinking I need to change something. It takes decades for real growth, 401k is a marathon not a race. That's why you see 70 yard old guys gasing up new corvettes at the gas station lol.
November 25, 20169 yr Idk, these guys in here have me thinking I need to change something. What you need to check is what your money is invested in. When you say 401k, that is a statement of how the money is labeled by the IRS. It is not what you are invested in. Inside your 401k plan you should have a variety of investment options. You need to see what funds or investments you are investing your 401k money into and what your options are.
November 25, 20169 yr Idk, these guys in here have me thinking I need to change something. If you can do post-tax contributions, I would go that route rather than the 401(k) pre-tax. As much debt as our country is in, there is NO Way our 401(k)'s don't get raided by taxes by the time we retire. If you contribute post-tax now, they can't hit you for that....as of now, until they pass some bunk law through and the Supreme Court upholds it.
November 25, 20169 yr You think companies are not replacing good employees with newbies now regardless of the benefits they provide? You could add this into the new Overtime rules thread as well. Most companies are trying to get out of the benefit business, not improve what they offer. Depends on your skills and the industry you are in.
November 25, 20169 yr What you need to check is what your money is invested in. When you say 401k, that is a statement of how the money is labeled by the IRS. It is not what you are invested in. Inside your 401k plan you should have a variety of investment options. You need to see what funds or investments you are investing your 401k money into and what your options are. Now that's a good point, I wonder what is in Deuces' portfolio. Chances are he owns a mutual funds, so he's probably splitting 10 different stocks. Say a Johnson and Johnson, some energy stocks and some tech stocks. I don't know what percentage he pays in, nor his match by the company. Deuce, hopefully it's a 5-5% match or 6-6% match. At age 30 you want to have half of your annual salary in your 401k.
November 25, 20169 yr At age 30 you want to have half of your annual salary in your 401k. What are you saying?
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