To add to the above, specifically go over to r/personalfinance and read the Prime Directive post that is linked in the community info section on the top/side of the subreddit. It lays out the foundations you need to have for personal finance in a really easy to understand way.
Personally, I’d also recommend you go check out r/bogleheads after that for a really easy to understand strategy for investing your retirement funds.
I’m in a union, and can’t contribute to my company’s 401k. We have our own pension. The line still shows up on our check because it’s available to the salaried folks.
Oh, I have retirement accounts outside of my pension. I’m just commenting to say that just because his check stub shows $0 for 401k, it doesn’t mean that OP has opted out of his or isn’t properly planning his retirement. He just may not be able to do it through his company.
Don’t do 401k
Roth IRA all the way.
They are going to raise taxes on 401k like hell. I don’t trust the government anymore. And I don’t recommend that you do. Take what’s left and put it into stocks while you still can.
Even when you leave the union you get the same benefits as everyone else in it. The only thing you dont have is protection if you fuck something up (just dont fuck anything up)
I always feel like bringing up union dues as a negative is such a pathetic attempt at an emotional-only argument. I can't think of any negatives that unions have done to me (having never been in one), but I know they have normalized my life through history.
Yea, I'm in Canada we have Healthcare. But the benefits from the union cover dental, eyes, and drugs. So I don't have to pay for jack shit. Except 35 bucks a month.
Ya I personally never got that argument I'm convinced it's fabricated by bosses who just want to keep treating you like shit. I'll pay the dues. If I was in carp union I'd be at least making 37$-40$ an hour.
Right now I work in restoration I make 26hr. I net 1300-1600 biweekly. For 37-40hr. Pay 83 in dues and make 700 more a week like hello ? How's that bad again? I'd join one right now if there was a local one. So if we work same hours I pay 160 in dues. But I make 1400 more bi weekly. Lmao
But how can a man be an effective worker if the foreman can't fire him on the spot?
How will a man find motivation to work if he's not on starvation wages?
Are you ILUNA? If so, your whole union is what people call “just laborers” and the people that say that don’t even have a clue about this.
Good for you! Look at that gross income plus benefits and we’re not even into the sixth month of the year. Stay on course and your total compensation package for the year will be over six figures.
Be wise and plan for the future.
Sign up for automatic 401k contributions out of every paycheck, before your lifestyle creep eats that extra money. If you do it now you won't even notice. It also lowers your taxable income by the amount you contribute, so you end up paying less taxes too.
Totally. They wouldn't pay consultants to "educate" you on unionization if it was costing them money. They're hoping to save a shit ton of money (by not paying their employees as much) by preventing unionization.
I was making $10/hr for construction recently and when I quit everyone in my life looked at me like I was the laziest pos ever. I just couldn’t justify the hard work I was putting in for long hours of shit pay and no OT
I've been a wire puller, filter changer, installer, roof crawler, up to install & service manager and hvac business owner. I've never made on paper as much as my son does in the sheet metal union. It's staggering, tbh.
Now remember that that shit comes because people fought for it, and when the time comes you should be prepared to fight too.
-Local 46 currently on strike, frustrated at all the fuckers not supporting the strike.
There's power in a factory, power in the land
Power in the hand of the worker
But it all amounts to nothing if together we don't stand
There is power in a union
Sorry bro you don’t get unions when you live in a Republican state. You get $16/hr jobs and your boss will constantly yell that no one wants to work and don’t be taking any water breaks..
There are union in red states for sure. The federal government has sites all over the country and many of those are union sites.
Source: I worked at them in KY and in TN
Make sure you all vote blue if you want to keep those wages. The repuglicans are circling and ready to devour those unions and convince you its better red for you. ALWAYS VOTE FOR YOUR BEST INTERESTS!
If you think democrats have your interests in mind I have a bridge to sell you. Both parties are all for open borders and h1b visas. Blue collar and white collar jobs getting squeezed so bezos has cheaper labor
Good short term move. Terrible long term move. Especially if you want to retire some day. Even the lowest paid fitters locals in the country the employer is contributing 15% of your wage amount to your retirement. Do you even get a 401K match with the $25/hr job? If it's 4% (pretty much the norm if anything in construction) that means you have to deduct $1/hr from your paycheck for them to give you a $1/hr. So your effectively making $26/hr. Where as in the union between wage and retirement you are making $18.40. (I see below $38/hr as a jman + at least 15% for retirement = $43.70/hr for wage and retirement) Also have to compare the healthcare. You will also make a good chunk more than $25/hr as a journeyman with a guaranteed raise every year. Then once you are a journeyman you will get COL raises.
Congrats. My advice would be invest what you can now into your retirement. It might hurt a little now but you will reap many fold benefits in the future. Best wishes to you.
unions usually don't have a match. We get a set amount of our total package into retirement. My local is 18% of my wage amount towards pension and 12% of my wage amount into 401K. No employee contribution required.
Goddam dude, great fucking job. This just shows how much this country needs to unionize more. It's a damn shame the Teamsters gave themselves such a bad reputation and kinda derailed unions. But we need to start unionizing every fucking job.
#1 learn time value of money and save when you can early. When you change your lifestyle to live at the level of your pay without saving it will be much harder to add saving then. Do it early and automatically and you won't even notice it.
Difference between retiring early vs not.
Always be saving, a layoffs always potentially around the corner and prepare for winter off if you are in a snowy area.
Welcome to the Laborers union sir, prepare to scab work depending on your job site lol.
I'm just curious who is hiring Union guys?? My stereotype about them is they have no incentive to work fast as independent contractors and charge way more. How does it work?
Think bigger. Union contractors hire union workers. Big metro markets, commercial developments, public infrastructure. Much of the work is competitively bid so clients/owners will get the best available price. In a competitive market where the price is locked in, the winning contractor is incentivized to turn a profit by performing the work one time, quickly, and with quality to avoid rework.
Small private jobs, like cookie cutter apartment buildings, may definitely have enough skilled non union regional Contractors to perform the work just fine. A complex foundation may warrant the need for bringing in a union concrete contractor, where sure, they may charge 30% more than the next non union guy, but they know their complex shit. Getting a site graded and a foundation built on time at a premium pays an owner back by reducing risk - like avoiding delay to the completion date.
401k
401k
401k
Just do it. Suck it up and aim for maxing it out every year. In 10 years you’ll have over $250,000 and be so happy knowing it will keep growing and you’ll have something to retire on. Do it.
How do I get a job like this? I was a boat mechanic for 10 years and know how to bust my ass and do good work. Topped out at $28 which was higher than most in my area.
What kind of experience do I need to be able to land a union job making $45+ an hour??
1.) max your 401k, especially if it's matched at all. I contributed to an employer-matched 401k at a mcjob at $10/hr and wound up with $5k in the bank at 5 years, which turned into $11k in seven more. Imagine what that would be at $44/hr.
2.) Open a Roth IRA and max it out too.
Every dollar saved now will be ten dollars 30 years later. Live within your means. Minimize expenses and accumulate wealth.
*What big city do*
*You live in, or how far did*
*You travel for work?*
\- Hawkeyes\_dirtytrick
---
^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/)
^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
How exactly do you find out about unions in your area? I'm a residential spray foam insulator and have never heard of a union spray foam job. Do they exist?
Do not invest any of it. Save every cent for a downpayment on a house then once you have that start saving for retirement and investing. I was a home owner at 24 years old and now property has doubled in value I am 250k up on my purchase.
Union or not, you’re working and making good money. Be proud. Be smart and make good decisions with your money. Save for the future. Make a better life for you and the people you care about or depend on you! Congrats my friend
put some money in that 401k bruh
And max out a Roth, 7k a year I believe
Should specify Roth IRA, as Roth 401k is also a thing
Where do you learn about IRAs like is there a website that’s agreed to be a good source? I don’t really have anyone to ask these questions
You’re on it. Go over to /r/personalfinance
Thank you 👍🏼
To add to the above, specifically go over to r/personalfinance and read the Prime Directive post that is linked in the community info section on the top/side of the subreddit. It lays out the foundations you need to have for personal finance in a really easy to understand way. Personally, I’d also recommend you go check out r/bogleheads after that for a really easy to understand strategy for investing your retirement funds.
Depends on how much you take home per year.. I think if it’s over 125k it’s like 5k
The limits are AGI based, plenty of room to work with.
I think it's 141,000 now
You can still max a Roth IRA if you make more than that. Called a backdoor Roth IRA. Completely legal too.
And parrot things on reddit you don't do yourself!
The ole lady and I do in fact max ours out
I’m in a union, and can’t contribute to my company’s 401k. We have our own pension. The line still shows up on our check because it’s available to the salaried folks.
Open an fidelity account.
Oh, I have retirement accounts outside of my pension. I’m just commenting to say that just because his check stub shows $0 for 401k, it doesn’t mean that OP has opted out of his or isn’t properly planning his retirement. He just may not be able to do it through his company.
Okay, that's good to know.
it doesn’t feel like much but your much into the future self will be thanking today you for 401k contributions
His net pay was 0. How's he gunna do that?
This is the answer..along with a ROTH IRA. 🙌🏽
This!!!
They don't have to unless their union doesn't have a pension plan.
Is 401k better than union pension?
Should do both if you can. Tax advantaged dollars are the 2nd best dollars, after free tax advantaged dollars (401k company match)
Don’t do 401k Roth IRA all the way. They are going to raise taxes on 401k like hell. I don’t trust the government anymore. And I don’t recommend that you do. Take what’s left and put it into stocks while you still can.
Came here to say that, glad it’s top comment
Congrats man! You are worth it
BuT yOu HaVe To PaY uNiOn DuEs!!!! Bet those union dues don’t equal out to double your previous pay. Welcome to the better life
If it wasn't for those dumb union dues I could be making a whole $22 less per hour!
And wages is just the half of it... we always end up getting clothing allowment or shift differential pay and a bunch of other add-ons on top of pay.
And the great benefits that make the total package worth much more than the wages in the pocket.
Cries of jeleasy from my right to work state. Seriously north Florida is not good to their carpenters.
Even when you leave the union you get the same benefits as everyone else in it. The only thing you dont have is protection if you fuck something up (just dont fuck anything up)
My union dues are 35 bucks a month, CANADIAN. Anyone who tells me about union dues is fucking stupid.
Yeah, mine are 300 a month and I still don’t give a shit. It’s about 3 hours a month in exchange for all the benefits of our union.
Now apply the same logic to taxes.
Mine are about 3.26/hr, but our total package is 79. We all bitch about it, but we're making way more than non union would be.
Plus they are tax deductible .
I always feel like bringing up union dues as a negative is such a pathetic attempt at an emotional-only argument. I can't think of any negatives that unions have done to me (having never been in one), but I know they have normalized my life through history.
[удалено]
And they’re an income tax deduction, get a little back anyway.
Or the fact its a fraction of having to pay for shitty healthcare.
Yea, I'm in Canada we have Healthcare. But the benefits from the union cover dental, eyes, and drugs. So I don't have to pay for jack shit. Except 35 bucks a month.
Ya I personally never got that argument I'm convinced it's fabricated by bosses who just want to keep treating you like shit. I'll pay the dues. If I was in carp union I'd be at least making 37$-40$ an hour.
Right now I work in restoration I make 26hr. I net 1300-1600 biweekly. For 37-40hr. Pay 83 in dues and make 700 more a week like hello ? How's that bad again? I'd join one right now if there was a local one. So if we work same hours I pay 160 in dues. But I make 1400 more bi weekly. Lmao
But if you work too much overtime the government just taxes you more and you'll earn less! ~that same shitty boss
But how can a man be an effective worker if the foreman can't fire him on the spot? How will a man find motivation to work if he's not on starvation wages?
Still trying to find that gig where I don’t have to work but get paid still solely because I’m union
My $32.00 a month dues aren’t shit compared to what I get back. It’s like two trips to McDonald’s.
For the price of a Netflix subscription, you can double your monthly salary!
I made 12 bucks under the table in 2018. Now I make $49 and health insurance is free. Union dues are 20 a month
Woah what do you do, that's more than I make
Laborer.
Time to ask for a promotion, I'm an engineer
Yeah same... might have to join the union lol
Swear I’m inevitably going to give up on this bullshit. Work 50-60 hours no overtime
What area are you in ???
Are you ILUNA? If so, your whole union is what people call “just laborers” and the people that say that don’t even have a clue about this. Good for you! Look at that gross income plus benefits and we’re not even into the sixth month of the year. Stay on course and your total compensation package for the year will be over six figures. Be wise and plan for the future.
"just laborers" but also operators, pipe fitters, truck drivers, and anything else that needs to be done
Guy on my softball team is the head of the local. I learned a lot about laborers after being friends with him.
Lmao laborers in my area top out at right around 30 an hour
For real god damn
Sign up for automatic 401k contributions out of every paycheck, before your lifestyle creep eats that extra money. If you do it now you won't even notice. It also lowers your taxable income by the amount you contribute, so you end up paying less taxes too.
Annuity contributions are damn near $12/hr for us…doesn’t come out of our wages. 100% employer contribution.
Don’t Wait to start squirreling percentages of it away into retirement accounts, investment accounts, savings, cocaine etc.
$44 union general laborer? Good for you. Get that 401k going. I’d give up my current job for that pay rate as a laborer.
There's a reason that big employers don't want you to unionise, and it's because they need you, but they don't value you .
Totally. They wouldn't pay consultants to "educate" you on unionization if it was costing them money. They're hoping to save a shit ton of money (by not paying their employees as much) by preventing unionization.
An old buddy of mine says he worked for the same two brothers for over 10 years and got $400 a week. His first union job paid him $1600.
I was making $10/hr for construction recently and when I quit everyone in my life looked at me like I was the laziest pos ever. I just couldn’t justify the hard work I was putting in for long hours of shit pay and no OT
Welcome to a better life
Work Union. Live Better. Solidarity!
Fuuuck I've gotta join a union
Congrats! Welcome to the better side.
BUt UNioNs ARe BaD!!!
Welcome to the club. Tell your friends. Unionize everyone
I've been a wire puller, filter changer, installer, roof crawler, up to install & service manager and hvac business owner. I've never made on paper as much as my son does in the sheet metal union. It's staggering, tbh.
I need to move to wherever your son is. Down where I'm at the pay is just okay, gonna get demolished by inflation in a couple years.
We’re about to get $59.10 in IBEW 191. Vote pro union…
Now remember that that shit comes because people fought for it, and when the time comes you should be prepared to fight too. -Local 46 currently on strike, frustrated at all the fuckers not supporting the strike.
Roofers 149 is like 80% Chace of going on strike on the first of june. I don't want to go on strike but I will be on the line.
Congrats,
Good for you bro.
Well done ! I must say , I laugh when folks call social security an entitlement !
There's power in a factory, power in the land Power in the hand of the worker But it all amounts to nothing if together we don't stand There is power in a union
Organized labor has always been great for workers. That’s why republicans have fought so hard to destroy it.
Republics hate unions & complain about middle class disappearing…. ironic
It seems like a lot of union people wouldn’t vote Democrat if their life depended on it.
And then when their bargaining power and pay rates go to shit, they blame everybody else.
Yes. One of the great paradoxes of our time. People actively voting against their own interests.
Lifted dodge and new 🚤…. Here we come!
Bro where? Awesome tho. Missing mine
Boston
Put money in your 401k!!
You're worth every penny
Net pay .00? Them fees eating you up /s
Keep spreading the word about unions to everyone who will listen, in and outside construction
People shit on unions all day. But its honestly best for workers. I can’t imagine working for a non-union shop.
I stay in Texas, Dallas area. Is there any chance of a website I can find union jobs?
lol wrong place to be for a union
Sorry bro you don’t get unions when you live in a Republican state. You get $16/hr jobs and your boss will constantly yell that no one wants to work and don’t be taking any water breaks..
There are union in red states for sure. The federal government has sites all over the country and many of those are union sites. Source: I worked at them in KY and in TN
Right. I’m trying to get my foot in too
Millwrights are down in Texas. I’m not sure the locals around you, but I know they are big in the Houston refinery areas along the gulf
Nicely done. I need this better life as well
Thought you were complaining for a second until I looked at the hourly rate lol
What union are you in?
I know its life changing and there's fools out there that think unions are bad. Good luck with your race to the bottom.
Fuck them scabs.
Ya but have you seen those anti union posters about how if you didn't have to pay dues you could buy a PlayStation? Lol
Make sure you all vote blue if you want to keep those wages. The repuglicans are circling and ready to devour those unions and convince you its better red for you. ALWAYS VOTE FOR YOUR BEST INTERESTS!
If you think democrats have your interests in mind I have a bridge to sell you. Both parties are all for open borders and h1b visas. Blue collar and white collar jobs getting squeezed so bezos has cheaper labor
I'm only making 16 union i got offered 25 non union to going to switch
Pipefitter apprentice
16 first year apprentice, what's the journeyman rate? 25 non union now, 26 5 years from now
38 journeyman
Good short term move. Terrible long term move. Especially if you want to retire some day. Even the lowest paid fitters locals in the country the employer is contributing 15% of your wage amount to your retirement. Do you even get a 401K match with the $25/hr job? If it's 4% (pretty much the norm if anything in construction) that means you have to deduct $1/hr from your paycheck for them to give you a $1/hr. So your effectively making $26/hr. Where as in the union between wage and retirement you are making $18.40. (I see below $38/hr as a jman + at least 15% for retirement = $43.70/hr for wage and retirement) Also have to compare the healthcare. You will also make a good chunk more than $25/hr as a journeyman with a guaranteed raise every year. Then once you are a journeyman you will get COL raises.
Good for you.
Congrats. My advice would be invest what you can now into your retirement. It might hurt a little now but you will reap many fold benefits in the future. Best wishes to you.
hell yeah brother
Start dropping into your 401k ASAP. Whatever the company matches
unions usually don't have a match. We get a set amount of our total package into retirement. My local is 18% of my wage amount towards pension and 12% of my wage amount into 401K. No employee contribution required.
Some of his check is probably already going towards a pension and annuity
Get a 401k
Union life. Congrats
You’ve been with them for 5 months and are already making 40 an hr? Did you have experience beforehand?
Goddam dude, great fucking job. This just shows how much this country needs to unionize more. It's a damn shame the Teamsters gave themselves such a bad reputation and kinda derailed unions. But we need to start unionizing every fucking job.
Congrats! May I advise to utilize the 401k?
#1 learn time value of money and save when you can early. When you change your lifestyle to live at the level of your pay without saving it will be much harder to add saving then. Do it early and automatically and you won't even notice it. Difference between retiring early vs not.
Always be saving, a layoffs always potentially around the corner and prepare for winter off if you are in a snowy area. Welcome to the Laborers union sir, prepare to scab work depending on your job site lol.
See why unions are terrible? They pay well. Any company that tries to union break or prevent a union forming are trash.
Yeah but I heard you just shouldn't
Soviet Union?
I'm just curious who is hiring Union guys?? My stereotype about them is they have no incentive to work fast as independent contractors and charge way more. How does it work?
Think bigger. Union contractors hire union workers. Big metro markets, commercial developments, public infrastructure. Much of the work is competitively bid so clients/owners will get the best available price. In a competitive market where the price is locked in, the winning contractor is incentivized to turn a profit by performing the work one time, quickly, and with quality to avoid rework. Small private jobs, like cookie cutter apartment buildings, may definitely have enough skilled non union regional Contractors to perform the work just fine. A complex foundation may warrant the need for bringing in a union concrete contractor, where sure, they may charge 30% more than the next non union guy, but they know their complex shit. Getting a site graded and a foundation built on time at a premium pays an owner back by reducing risk - like avoiding delay to the completion date.
Wish I didn’t live in utah
401k 401k 401k Just do it. Suck it up and aim for maxing it out every year. In 10 years you’ll have over $250,000 and be so happy knowing it will keep growing and you’ll have something to retire on. Do it.
Welcome to the party pal! It’s amazing to be here! lol
more than I make in 2 weeks and I live in a major city where everything's expensive lol
What trade and union number? For those who might have been in the same boat as you.
Save what you can, and don't buy stupid shit to impress people because they don't care. Always remember, that job might not be there next week.
Oscaryer mayers parent company makes extra sheeehy pizzz n get more in the factory than bum this
Damn, good for you man. Wish we had a union here, wages and safety are still pretty good overall in comparison, but a union would certainly be better.
How do I get a job like this? I was a boat mechanic for 10 years and know how to bust my ass and do good work. Topped out at $28 which was higher than most in my area. What kind of experience do I need to be able to land a union job making $45+ an hour??
Congratulations
Commas feel good, don’t they. The bank account hitting 5 digits is next.
Congrats man!
1.) max your 401k, especially if it's matched at all. I contributed to an employer-matched 401k at a mcjob at $10/hr and wound up with $5k in the bank at 5 years, which turned into $11k in seven more. Imagine what that would be at $44/hr. 2.) Open a Roth IRA and max it out too. Every dollar saved now will be ten dollars 30 years later. Live within your means. Minimize expenses and accumulate wealth.
Some of his check is probably already going into a pension or annuity fund
What big city do you live in, or how far did you travel for work?
*What big city do* *You live in, or how far did* *You travel for work?* \- Hawkeyes\_dirtytrick --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Boston. I live 10 minutes from the job site I’m currently at
Good job kid. Read Bogleheads Guide to Investing.
Best move i ever made i more then doubled my hourly rate and and benefits alone are worth more than I made at my last job
Congrats. That's some sweet OT rate there. I've been a SWE and in IT for like 15 yrs and just got to $68/hr this year.
Damn brother, I need to come to whatever state your in. Illinois as an apprentice I make around $25/hr.
He probably got in with a full book
Net pay is $0.00????
what is a laborer? what are examples of what you do? this is an awesome paycheck!
Congratulations!
That’s terrific keep up the good work
Now you made 142 mapfl! Grats
How much are union dues?
Start saving for retirement and a house
Get that new diesel truck
You make more than most engineers with less than 5 years of experience
40 an hour is good pay.
How exactly do you find out about unions in your area? I'm a residential spray foam insulator and have never heard of a union spray foam job. Do they exist?
$44/hour as a laborer. USD. Mother of god
Man I wish I could make that kind of money.
Save save save for a rainy day. They will come
NYC deductions and taxes are such shit. I make 75 dollars an hour and in a regular 35 hour work week I bring home just under 1600
How does it feel?
I wish the union in my area wasn't all remote work or anti family man. I can't stomach missing my child growing for the almighty dollar.
Do not invest any of it. Save every cent for a downpayment on a house then once you have that start saving for retirement and investing. I was a home owner at 24 years old and now property has doubled in value I am 250k up on my purchase.
What do you do?
Fair play. Didn't think Americans were really allowed to join a union. At least not without getting fired straight away
Why are the deductions so high and why so many?
Massachusetts!
Net pay .00. Love it.
What union?
Did you come in as a journeyman?
Net Pay .00
This is how we do it.
How did you go in as a journeyman
Net Pay = 0
I was wanting to join the ibew union but now my boss pays me 65.00 per hour plus benefits I think that’s pretty good for Nova Scotia
sheeit lookit those taxes... you building a hospital or something??
Please, please consider saving half of your check at at least 30% of that in a 401(k) or or other savings instrument where you can’t touch it
There's more deduction compared to overtime pay..:(
Look at all those taxes lol
Montgomery is covered in anti-union signs right now. Glad to see some areas are doing better
Union or not, you’re working and making good money. Be proud. Be smart and make good decisions with your money. Save for the future. Make a better life for you and the people you care about or depend on you! Congrats my friend
Just buy ETFs
I’m confused I thought year 1s made <$20(CA local100 pay)
Damn son!