UP 401K

I'm not really up on investing, but i just got my package a couple of weeks ago and it's all greek, anyway, just wondering, if it's a good investment of my money or not, in laymans terms?

The experts all say that you should "pay yourself first" if you want to save for retirement effectively. Regular amounts going into any kind of savings is recommended highly -- always putting in a little bit more than you think you can afford.

One thing that, if available to you, you should do is to set it up as an "after tax" savings plan -- essentially like a Roth IRA. That way, any growth over time accumulates completely tax free. When you start taking it out when you get to retirement age (which will come before you know it!), you pay no tax at all on the amount withdrawn.

I'm not sure if this option is available for agreement 401k, though.

Disclaimer: Not being a certified financial planner, though, I would recommend you consult one.

You pick out what percent of your pay you want to put in it. Then you pick where you want it to go, i do 10% in UP common stock and the other 90% to the regular UP stock. My 401k is considered to be high risk... Once you get online and sign up it seems a little easier to figure out.

I also buy a $200.00 savings bond threw the UP every payday.

UPRR engineer wrote: I also buy a $200.00 savings bond threw the UP every payday.

How do you do that?

There should be some forms in your terminal. Ours are with the boot, eyeglasses, leave of absence, W2's and what not. If you cant find one buddy let me know and ill send you one. You just fill it out and fax it to timekeeping.

Having a financial advisor can also be a big help and I would highly recommend one. My guy even helps with mine and my wifes 401K in terms of what funds to pick etc even though he makes no money from that.

For some 401k info check out http://web-401k.com/basics/

There should be some forms in your terminal. Ours are with the boot, eyeglasses, leave of absence, W2's and what not. If you cant find one buddy let me know and ill send you one. You just fill it out and fax it to timekeeping.

Dang, I can't find any of those forms at my Terminal, guess I need to ask an officer.

UPRR I don't think you said what you mean when you discussed your 401(k) allocation. Having 10% of your plan in UP stock is fine; having 100% is extremely risky. Enron encouraged that, and as a result many of their employees lost their retirement money along with their jobs.

I'm not saying UP is another Enron, far from it, but the example serves to make the point.

Nope, thats how i have it, 10% in UP common stock and the other 90% is the stock that gets traded during the week.

I'll grab a savings bond form tonight guys and then ill scan it and give it to you.

Thanks UPRR

Sent a copy to both of those guys, if anyone else needs a copy let me know and ill send you one also.

Thanks man, I appreciate it

Your welcome buddy, glad to help.

UPRR engineer wrote:Sent a copy to both of those guys, if anyone else needs a copy let me know and ill send you one also.

I'll take one for future use:)

powerpro69 wrote:I'm not really up on investing, but i just got my package a couple of weeks ago and it's all greek, anyway, just wondering, if it's a good investment of my money or not, in laymans terms?

I know Non-Agreement employees do, but do Agreement employees get a company match?

If you're eligible and you don't invest in the 401(k) you're giving away free money.