Investment habits on EMS professinals

[Shishkabob]

You mean a field where the average level of education doesn't even match an associates degree? A field where the average provider sees no problem acting like a technician instead of a professional? A field where the average provider doesn't see a need to move past, "You call, we haul, that's all? A field that's flooded with people applying for jobs?

Yes, that one.


Pay me more.

 

[Hunter]

I actually do plan on investing in the near future but since no one had voted got the last option I had to.

 

[AlphaButch]

When I worked for a company with 401k options, I always took the option at the highest employer matched level. I'm not going to turn down free money.

I have alot of outside investments, but I've been an investor since a teenager and have also taught my kiddos to start (their not teenagers yet, but have a decent portfolio).

It's rarely too late to start investing in your future, it just takes some time and willpower to learn and put into action.

 

[shfd739]

Im doing company 401K and we also have the ESOP program.

I was at about a 14% 401k contribution but lowered it to the company match to free up some short term cash to get debt free then Ill up it again. My 401k has been sucking lately but Im in an agressive plan so I expected it. ESOP however is kicking butt.

Im determined to have a nice retirement and not waste money. My wife and I combined are doing quite well and there is no reason we cant be saving and paying cash for stuff.

 

[thegreypilgrim]

My company does not offer 401k matching...or anything remotely similar. If it did I would definitely use it, but I am relegated to outside investment.

 

[Fish]

You mean a field where the average level of education doesn't even match an associates degree? A field where the average provider sees no problem acting like a technician instead of a professional? A field where the average provider doesn't see a need to move past, "You call, we haul, that's all? A field that's flooded with people applying for jobs?

Most have an AS, infact half here have a BS. Not sure where you are from, but thats not our Mindset.

 

[JPINFV]

Most have an AS, infact half here have a BS. Not sure where you are from, but thats not our Mindset.

Most? You have a source for that? The vast majority of paramedic programs in So. Cal do not offer an associates degree option, and those that do it's optional. Additionally, only two states actually require an associates degree to practice paramedicine and increased educational requirements are often fought tooth and nail by EMS agencies, schools, and plenty of providers. So, yes. I'm hauling up the BS flag that most paramedics in the US has an associates degree and around half has a bachelors.

 

[Fish]

Most? You have a source for that? The vast majority of paramedic programs in So. Cal do not offer an associates degree option, and those that do it's optional. Additionally, only two states actually require an associates degree to practice paramedicine and increased educational requirements are often fought tooth and nail by EMS agencies, schools, and plenty of providers. So, yes. I'm hauling up the BS flag that most paramedics in the US has an associates degree and around half has a bachelors.

Your right I cannot speak for the rest of the US, I can only speak for what I know. I work in a all Paramedic system. Most every Medic has either an AS, or BS. And some, few, but some have Masters. Additionally, we have Paramedics who also have a nursing Degree.

Where did you get that Badass BS flag? I wanna use that sometime!

 

[fast65]

Most? You have a source for that? The vast majority of paramedic programs in So. Cal do not offer an associates degree option, and those that do it's optional. Additionally, only two states actually require an associates degree to practice paramedicine and increased educational requirements are often fought tooth and nail by EMS agencies, schools, and plenty of providers. So, yes. I'm hauling up the BS flag that most paramedics in the US has an associates degree and around half has a bachelors.

And I'm glad to be one of those two states

On topic though, I invest in my companies 401k, and I'm about to start investing in outside sources as well.

 

[46Young]

Pensions wont be around for too much longer... once the general public realizes how much of the budget goes towards paying near pre-retirement salaries to people, they'll stop it.

The tradeoff is that with a municipal employer, you get paid less than you would in the private sector, but they make up for it with the benefits and retirements. Where some unions scheme is where their OT counts towards their final benefit. FDNY is famous for this, but FDNY EMS can do this as well.

What we're going to see is hybrid plans, and/or increasing employer contributions/more years of service. If municipal pensions go away, desireable employees will have little reason to stay in that sector. Everyone knows that you go municipal mainly for the benefits and pension. I don't see how they can go away from that to any large degree.

 

[46Young]

County pension, 457 (no match) and ETF's through Vanguard (free of commission) with my disposable income. I prefer to invest rather than pay down my mortgage, since I have a 30 yr fixed at 4.25%. When I was saving for my home, I invested 70% bonds, 30% equities (Nov. 2009 - Dec. 2010), and diversified within those general guidelines. I reasoned that if my portfolio took a hit, I would still have enough for a down payment. I actually gained 12% during that timeframe.

 

[JPINFV]

Where did you get that Badass BS flag? I wanna use that sometime!

Google Image Search...

 

[bigbaldguy]

Interesting. From the very small sample on emtlife it appears that EMS professionals are more likely to invest outside of a employer sponsored plan than the general public.

 

[fortsmithman]

Here in Canada we don't use the term 401k our version would be the RRSP (Registered Retirement Savings Plan).

 

[Melclin]

I don't know! I need to get me some money learnin'.

I have a great pile of money sitting in a bank account waiting to be used. I figure I wanna buy a house, but I know so little about such things. If only real estate and various other real world issues were like biology, geopolitics, literature or pop culture.

 

[Sandog]

I got stock options from my last job. Now I just kickin it, but getting bored.

 

[Sandog]

I don't know! I need to get me some money learnin'.

I have a great pile of money sitting in a bank account waiting to be used. I figure I wanna buy a house, but I know so little about such things. If only real estate and various other real world issues were like biology, geopolitics, literature or pop culture.

I so know what you mean. Geez, shoulda took a finance class.

 

[ArcticKat]

Here in Canada we don't use the term 401k our version would be the RRSP (Registered Retirement Savings Plan).

We've also got a TFSA, Tax Free Savings Account. We're allowed to invest $5000.00 per year into it and the interest is not taxable.

 

[NomadicMedic]

My service, a county based third service, has a non contributory pension plan. After 25 years, you're out with 50% of your three highest year's salary. Not great, but certainly nothing to sneeze at, as I pay nothing into this fund, and as an “average medic”, I can expect to be making 75 to 80k with OT in the next few years. I also invest in a 457 and I have several IRAs. The market is too volatile for me to play with now... but I have in the past, and will again. I just can't help myself.

 

[Shishkabob]

I have a great pile of money sitting in a bank account waiting to be used. I figure I wanna buy a house, but I know so little about such things.

Please tell me you have a dedicated emergency fund SEPARATE of those savings?

The market is too volatile for me to play with now...

With the way it's been since August, it will probably lose 3-5% this week since last week was all gains.


I lost 18% in the first week of August....