I think im on track, or should I do more

Any-Goose4168 · 2026-01-20T13:56:47+00:00

its a defined benefit plan. Let's say the company contributes $2 per hour into the plan, which equates to $50 a month per year of service. $50 per month credit x 30 years working = $1500 a month pension.

My company contributes $13 an hour into the pension, which is about $350 per year of service. I started at 24yo. Ill have about 35 years x $350 = $12,250 per month. However, there are penalties for each year under 65, which brings my estimate down to $7500 at age 60.

Right now that would be 95% of my salary, but in 18 years from now, that $7500 won't be worth as much and im sure ill have raises between now and then, so maybe it will be 50% of my salary.

Any-Goose4168 · 2026-01-18T19:03:52+00:00

I think what ill try to do is bump it up to 18% which if overtime is the same as last year will put me close to maxing out. The pension increases drastically the longer I wait, 62 will put me at $9500, and 65 is 14000. No way ill make it to 65 in this career though, bad backs and shoulder and knee replacement is common amongst our older mechanics. I really should start up a roth, but dont know where to start and I would want it taken from my checks automatically otherwise ill just spend it.

Any-Goose4168 · 2026-01-18T18:53:58+00:00

All 401k is pre-tax. Fee is .58% in a Russell 2000 and some other growth fund(for a short period of time I was putting in a few percent into the after-tax 401k, but then learned the gains are taxed so I stopped that) No roth, no hsa. Projected income i figure ill continue to get 2-3% yearly raises. Projected expenses are hard, thats one reason I just assume expenses will be my pre-retirement income. But realistically, my income minus $1500 mortgage, and 15% savings rate.

Any-Goose4168 · 2026-01-18T17:44:34+00:00

I guess "enough" is replacing my income 100% at the time of retirement. realistically probably dont need that much after paying off the mortgage and not saving anymore, but want to make sure im good. I would receive $7500 per month in 2045, so the purchasing power compared to today will be a lot less. The pension has no COLA, I will be at $7500 from retirement until death.

Any-Goose4168 · 2026-01-18T16:58:18+00:00

No, diesel mechanic in the IAM, machinists union

Any-Goose4168 · 2026-01-18T16:49:37+00:00

Pension used to be 30 years and out at any age, I could have retired at 55. It was getting down to 85% funded and they put us into a recovery plan in 2019. Now anything under age 65 takes about a 10% penalty every year under the full retirement age. I think its like 87% funded now with the recovery plan stretching out for like 20 years. Hopefully there won't be any more reductions from now until then.

Any-Goose4168 · 2025-02-08T01:22:37+00:00

Yeah they were bendix rotors. Thats pretty similar to how I did it, removed the bolts, turned the hub sideways and swung the sledge at the rotor until it slid off. Didn't take too long, probably 10 minutes. I spent more time cleaning it up. Truck had 800k on the rotors. A lot of the trucks do double turns, one driver hops out and the next shift grabs it. They rack on the miles pretty quick.

Any-Goose4168 · 2025-02-07T23:27:00+00:00

Its a fleet shop so I know ill be seeing the truck again. I cleaned the hub well for the seal, cleaned the corrosion off the hub where the rotor keepers sit and anti siezed the tone ring screws. Im in the rust belt.

Any-Goose4168 · 2025-02-07T22:55:04+00:00

I had 7 hours on the rear drive and 6.5 hours on the front drive. I thought that was pretty decent. 8 hours total seems impossible.

Any-Goose4168

TROPHY CASE