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Okie State

Certifiably Surly
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Posts posted by Okie State

  1. Me too. But in retirement we can. Lots of time. And, again, YouTube has a how to video for just about everything. 

    I get questions all the time from guys at work about how I know how to do all this random shit. YouTube bros...it ain't rocket science. Although I've found out there are a whole lot of uncoordinated men out there who can't really do much of anything outside of a desk job.

     

    Also message boards are a great source. Damn near everything you could want to DIY has already been done and documented with a step-by-step on the interwebs.

    • Like 1
  2. I’m decently handy as I’ve spent a lot of time working at our family’s ranches growing up. I can drive a tractor.  Operate the skid steer and a dozer.  Weld a bit. And do minor plumbing and electric stuff — because calling one out to Dilley is really expensive.
    And I can handle a lot of auto repairs on pre 1990 vehicles.  
    But one thing I’m looking forward to in retirement is teaching myself more of that kind of stuff.  And with YouTube anyone can learn a lot these days.  
    This is the kind of shit I love to do. Just don't have any damn time.
  3. might be similar to mine.  my pension is defined-contribution, meaning i get out as annuity what i put in (rather than a formula e.g. based on best earning years).
    the defined-contribution formula:  x% of salary deducted, to gain y% as annuity benefit.  
    say, for 10% & 5% @ 100k salary, annually they take 10k so you build 5k of benefit.  do that for 30 years and you build 5k*30 = 150k yearly payout until you die.  
    ***
    tied to that pension plan is an optional "additional voluntary contribution".  you define the % and it is pretty much a pretax savings account, investable in all the typical 401k routes 
    The 'pension' we have is nothing more than a company contribution based on a percentage of your current salary. Separately we have a 401k through Vanguard that has a 5% or so company match and a stock savings plan where we receive a small percentage of our salary in shares twice a year depending on how our stock is performing relative to peers. All of it adds up to a pretty decent benefit of you take advantage of it. I'm sure there is better and worse out there.
  4. Got it. Guess it must have been set up a while ago. As you said, it’s free money!
    I know the pensions for the older employees are significantly different than this one. I assume theirs is more traditional, but I'm not sure.
  5.  

     

     

    It’s invested and should be earning more than what a bank account is earning. 4-6% is what a cash balance should be set at. It’s a defined benefit (pension). You’re too young to get the most benefit. Not sure how big your company is, but let’s say the owner is 65. He’s able to put away 200k+ (depending on a few things) and that counts as a business deduction.

     

    Ours has a percentage of pay contribution dependent on age and years of service. It then has an interest component that is tied to Treasury rates. Once vested, you can take an annuity or lump sum when you leave the company or retire.

     

    As mentioned, this is just one component of savings available to us. This one is free to everyone without you doing anything.


  6. How old are you? A cash balance is more than just a savings account and typically benefits older employees/owners the most.
    33. How is it different? Seems to be cash deposited into an account that earns interest. Maybe I'm wrong.
  7. Do any private companies even offer pensions to new hires anymore?  I think the big auto companies do but anyone else?
    Company I work for had them until like 5 years ago or something like that.  Everything was grandfathered in and the pensions were replaced with a really good 401K match but I'm not aware of any pension companies.
    We have something called a 'cash balance pension' that's really just a savings account the company contributes to on our behalf based on years of service. It's not a lot, but it does build up after a while and is free money. I assume there are more than a few employees completely dependent on it.

    They also do a 401k match and a program that distributes shares based on stock performance during the year.
  8. Priorities for young people have always skewed towards the present. However, this current generation has more student loans and live in urban areas with high rent. Hard to put much away.
    I guess so. Most of the people I know could afford it, but they just didn't bother. If you never see the money in your check it's a lot easier to get in the habit of saving. I'm only 33, but I'm glad I took that advice at the age of 21.
    • Like 1
  9. Nah, one of these last 4 in would have been knocked out if TCU stole a bid. It could have been Oklahoma State. 

    That's probably correct, although as was mentioned yesterday, TCU winning would have moved them into Top 50 RPI and we did sweep them. Not sure if that would have mattered or not though. Honestly I wouldn't have been too upset had we been knocked out considering the way we finished the season.

     

    Looks like Baylor swept them too so yeah we'd probably be out.

  10. I love doing DIY stuff so I hope to be able to either find a house to work on or have one custom built that I can slowly tweak a bit. I have a million ideas in my head, but no time to do any of them.

     

    Would also like to have a car that I can tinker with.

  11. Dad and mom have been retired 20 and 15 years respectively. First 5 -10 or so years they travelled all the time. Did the big Europe vacation, Alaska, etc.  They loved it and were able body enough to do it comfortably. Less able now but more social and have picked up hobbies. Dad does wood working and probably spends more than it cost to buy but keeps him busy while mom does gardening most days. 
    They are always visiting friends and going on day trips so probably have a more lively social calendar than I do. 
    Retirement doesn’t have to be an end if you stay active and find hobbies plus go out and be social. 
    They constantly talk about how happy and stress free life is now at this stage and just want to enjoy it with their kids. 
    This sounds like my in-laws. They're still in the travel stage and are loving it. They are happier than ever and love spending time with the grandkids in between trips. They just flew to Costa Rica today.


  12. Are you eating at 9:30?
    Ribs have always taken right around 5 hours for me. Finished them up just before 11:30, wrapped and jumped in the car to head to the in-laws. Forgot to snap a pic in the rush. They turned out solid though.
  13. You retire then you die. 
     
     
    Fuck that.  And chip Brown.
    This. I'll work my whole damn life saving up a nice chunk of change only to die of a heart attack the day after I retire. Just watch.
  14. I'm extremely conflicted by conference tournaments, resulting "championships," and automatic bids to the tournament winner.  Everything rational about me says it is a poor credential for measuring a team's worth or worthiness to participate in post-season.  But the sports fan in me kind of digs the long-shot odds.
    Yeah, I mean it worked out for us last year and it does add some excitement if your team had a shit season and gets hot. Just don't call them conference champs.
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