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Post by brizzel on Jan 20, 2010 19:55:47 GMT -5
Just wondering if anybody has heard anything? I had heard something about $2500........ Just a rumor.
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Post by lap65 on Jan 20, 2010 20:30:24 GMT -5
I thought we gave that up?
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Post by hotcarl on Jan 20, 2010 23:04:59 GMT -5
We did not give up profit sharing nor should we ever. In my opinion with all of the cost cutting, Ford will be making record profits in the years to come. As long as we have a profit sharing plan Ford will have a choice to pay it to us or reinvest it to avoid paying it to us. Either way I think that we win.
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Post by ScottR@KTP on Jan 21, 2010 0:45:48 GMT -5
I would guess $600...but it will be a while before we hear an exact amount...I sure hope the $2500 is closer to being right...or even a low guess.  |
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Post by ktpking on Jan 21, 2010 2:25:28 GMT -5
They can keep the profit sharing. I would rather have matching 401K. Just me, I'm an investing kind of guy. Social Security won't be around forever.
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Post by intheloop on Jan 21, 2010 12:33:24 GMT -5
social security may get reduced in the future based on your income, but they will never get rid of it. if they stopped the program they would have to stop taking it from your check each week and we know that will never happen.
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Post by ScottR@KTP on Jan 21, 2010 12:47:02 GMT -5
Invest your profit sharing.
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Post by ktpking on Jan 21, 2010 14:13:55 GMT -5
social security may get reduced in the future based on your income, but they will never get rid of it. if they stopped the program they would have to stop taking it from your check each week and we know that will never happen. You are right... The government will keep it for the people who don't invest their money for when they retire. Another entitlement. Just like welfare for the slobs who don't want to work. My tax money keeps them on their ass so they can sit at home. I see and hear it all the time at work. Man, I'm gonna get me a flat screen TV with my profit shareing check. Fine and dandy but, the joes that I know who say this have no retirement account or in THESPHE. Won't have a pot to piss in when they get old and then want the government to bail them out with some Social or welfare money. I guess it's all what you want. Myself, well I want to travel and have no bills. Freedom to do as I wish and not worry where or when I get the money. |
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Post by ktpking on Jan 21, 2010 14:16:17 GMT -5
Invest your profit sharing. Would not get nearly the same return as would matching 401K. Scott, just look at the years we have gotten no profit shareing. Scott, just look if we had matching 401K what you would have in your Thesphe account when Ford was a $1 a share. |
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Post by ktpelec on Jan 21, 2010 14:33:05 GMT -5
The majority of working Americans do not make the wage that we do, they have no extra money to invest for retirement. Every person has thier own set of priorities for thier finances.
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Post by PUNISHER on Jan 21, 2010 19:42:31 GMT -5
todd dunn told paint people we will get profit sharing...no amount info.
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Post by ScottR@KTP on Jan 21, 2010 21:55:06 GMT -5
No doubt...the matching is where you make big gains...even if it's $1 for every $2...50% gain off the top is amazing.
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Post by otonedog on Jan 22, 2010 13:16:54 GMT -5
wow!!! it has to be true if Todd Dunn says so!!!!!
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Post by ScottR@KTP on Jan 22, 2010 13:37:00 GMT -5
LOL...Todd Dunn has not done me wrong...yet...so I would believe him.  |
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Post by ktpking on Jan 24, 2010 1:10:13 GMT -5
The majority of working Americans do not make the wage that we do, they have no extra money to invest for retirement. Every person has thier own set of priorities for thier finances. You are right Ktpelec, the majority of people don't make the wages we make. When I was 16 I made around $3 an hour. I bought savings bonds, not many but a few. You buy them for $25 and you get a $50 dollar bond. Takes around 7 years to mature. Then I got serious with the ladies and my investing stopped and the money went else where. Big mistake, the ladies are gone money is gone. I can't make up for lost time. My best friend has a wife and 3 children they own a house and two cars and I bet they make combined $55,000 a year. They have a nice retirement fund going I don't know how much, I don't need to know or want to know. They are prepareing for their retirement. It's all what you want. Most live for the present and screw the future I'll cross that bridge when I get there. I would love to see every employee enrolled in the Thesphe program. I hear so many stories when some one retires or leaves the company they never enrolled in Thesphe. It's all pre tax, you will never miss the money. |
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Post by mysteryjim on Jan 24, 2010 3:44:00 GMT -5
Well, ktpking......I appreciate your posts. I am one of those that do not invest.....mostly is because I'm plain ignorant about the process and another is (shall I say) trust. Hard working people such as us put money into (let's say ford stock).......A friend of mine who has MANY MOONS more time than me lost THOUSANDS when it went from $35 to under $2.00. Now I would guess he's making his money back, but how does this differ than a savings/money market account. PLEASE REMEMBER, NEVER INVESTED ANYTHING......NEVER OWNED A HOME....VERY IGNORANT ON THIS TOPIC. Looking forward to hearing a tidbit from you as I know that all my questions could take forever. TY
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Post by ktpking on Jan 24, 2010 12:53:28 GMT -5
Mysteryjim, First you are not ignorant. I am not an expert. I have lost my ass on a stock I purchased years ago. I put in a couple thousand thought I did some good research and two years later BOOOM the company went bankrupt. Stock was worthless. When I hired in I started my Thesphe account with Ford I put in 5% I decieded to break it down so 2.5% would be Ford stock and the other 2.5% a mutual fund. Since then I have increased my percentage quite a bit. Whenever we got a rise I would increase my percentage. You are absoulutely correct about the Ford stock. I bought for years when it was around 35 to 28 dollars. Then after 9/11 the market plunged and I kept buying sure my account went down in value. Since then I have bought Ford stock when it was rock bottom. Hence the ammount in Ford stock have balanced out. You don't pay a fee for Ford stock but, you pay a maintance fee for mutual funds. This fee goes to the people manageing the fund. You don't pay that directly to them it's in with the money you invest it it. Remember the money you put in Thesphe is pre-tax. You pay the taxes once you cash out your account. If you have a savings account that's great! You are makeing money with it in intrest. Money Market same thing safe! You just won't get the same rate of return as a mutual or stock. There is always a risk with the ladder two. You could lose all your money or make a bunch of money. I have personally done both. I just let the account accumulate and forget about it. I will not go to the boat (casino) not that I don't beleieve in gambleing but, because I work to hard to give the casino my money. Once that money is gone it's gone. At least if the stock goes down I have an oppotunity to make it back plus some in time.
Mysteryjim I hope this helps. I'm just a bule collar worker that gets dirty at work for a living. I want to be able to travel with my wife when we retire and see this great country we live in. I may lose everything along this ride we call life But, I can look at myself in the mirror and say "I tried".
Call the benefits rep and they can give you all the numbers to call to set up the Thesphe account if you want. Ask around at work. Lots of guys and gals are in it. Just do what is best for you and you will be happy. Happiness is something money can't buy but, it sure does help.
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Post by atltolap on Jan 24, 2010 14:44:21 GMT -5
Just an FYI, most money experts advise not owning more than 10% of company stock in the company that you work for. Mostly if you loose your job, you won't loose all your investments at the same time if your company declares bankruptcy.
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Post by ScottR@KTP on Jan 24, 2010 15:19:50 GMT -5
Never put all your eggs in one basket...I worked with a couple at LAP which had over a half million in Ford stock...all of their financial well-being depended on FORD. They ended up losing almost all of it when it dropped from $23 a share years ago. I imagine they held onto it and are now seeing some return...but I couldn't understand how a couple in their 50-60s would put all of their livelihood into their employer.
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Post by mysteryjim on Jan 24, 2010 20:07:03 GMT -5
Thank you for the info gentleman regarding Thesphe and stocks, I will put your info to good use. KTPKING, I too am a lowly line worker (haha) but looking for life after this place also.
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Post by bo862 on Jan 25, 2010 18:53:54 GMT -5
When you invest in tesphe you are investing through the company. If Ford goes bankrupt and closes its doors I believe you will loose anything in tesphe. Thats what happened to a friend, he invested over 100k in his 401k through his employer. When the company went bankrupt he lost 100%.
Would be nice if we had a lawyer or financial adviser to confirm or deny that this is fact.
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Post by PUNISHER on Jan 25, 2010 19:36:02 GMT -5
BC at lap told me, "ford has not yet announced profits from the 4th qtr last year but they expect a small profit share to be paid out."
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Post by ScottR@KTP on Jan 25, 2010 21:00:23 GMT -5
In TESPHE, you are kinda investing thru your company via your paycheck. But in reality, if Ford closed, they don't take your TESPHE balance with them unless it's all in Ford stock.
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