True.
1976-1988 were my Rockwell years. Back then, benefits were key to hiring and
retention, and the big 3 were (1) 401K match, (2) “cafeteria” health insurance,
and (3) tuition reimbursement.
My recollection is they matched 401K contributions dollar-for-dollar up to 3%
of income.
People don't always know what is best for them. But fully funding an
IRA would be a way to funnel money to them without taxes that might be
appreciated when they do their taxes..
On 1/28/24 6:09 PM, Chuck McCown via AF wrote:
I would be a bit surprised if anyone that works on my shop floor
I would be a bit surprised if anyone that works on my shop floor would prefer
that. We only have 25 employees and they are mostly welders etc. I wonder if
any of them even have an IRA.
From: Robert
Sent: Sunday, January 28, 2024 7:53 PM
To: af@af.afmug.com
Subject: Re: [AFMUG]
I don’t have sales people. If I did I would certainly make it commission
based. Right now I am selling more than can make with zero sales effort.
Trying to scale without going nuts with expense and payroll.
From: Ken Hohhof
Sent: Sunday, January 28, 2024 7:27 PM
To: 'AnimalFarm Microwave
Fully fund IRAs?
On 1/28/24 5:18 PM, Chuck McCown via AF wrote:
Thanks Ken,
No stock options. I am slowly giving the company to a couple sons
that are putting in the sweat equity. Still not sure about production
based bonuses. Should everyone get the same amount?
*From:* Ken Hohhof
Maybe others will have answers to that question, sounds like tricky territory.
Do you have salespeople, and are they already getting performance based pay?
That’s the one exception that comes to my mind, but you could argue both sides
of that one also.
From: AF On Behalf Of Chuck
Thanks Ken,
No stock options. I am slowly giving the company to a couple sons that are
putting in the sweat equity. Still not sure about production based bonuses.
Should everyone get the same amount?
From: Ken Hohhof
Sent: Sunday, January 28, 2024 1:11 PM
To: 'AnimalFarm Microwave Users
I worked for big companies in the 80’s and remember profit sharing and
Christmas bonuses. Then we had a period of startups with stock options as a
huge part of compensation – the idea was you worked 80 hour weeks for modest
pay but if the company hit it big your options could be worth a lot.
My latest pivot a couple of years ago to microtrenching blades, adding grout
machines, then microtrenching saw attachments and now to a specialized type of
vacuum excavator has gone extremely well. Almost no software involved. Just a
little in a motion control PCB in the grout machine to
