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Compound and Grow Your Employer Matching Retirement Plan Bettendorf IA

If your employer offers a matching contribution to your retirement plan, the cardinal rule is: contribute whatever the employer is willing to match even if it is only a percentage of your contribution and not a dollar for dollar match.

Eric Kies
The Planning Center
(309) 797-4030
1701 River Drive
Moline, IL
Expertises
Helping Clients Identify & Achieve Goals, Planning Concerns for Corporate Executives, Financial Issues Between Generations, Ongoing Investment Management, Estate & Generational Planning Issues, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, AIFA, CFP®, MBA

Mr. Roger R. Pearson, CFP®
(563) 359-5257
2435 Kimberly Rd Ste 300
Bettendorf, IA
Firm
SagePoint Financial, Inc.

Data Provided by:
Mr. Joseph M. Pheifer, CFP®
(563) 333-2530
3325 Utica Ridge Rd
Bettendorf, IA
Firm
Summit Financial Consultants I

Data Provided by:
Mr. Brian C. Burke, CFP®
(563) 349-7735
2550 Middle Rd Ste 300
Bettendorf, IA
Firm
Guardian Life Insurance Company

Data Provided by:
Mr. Robert J. Blazejewski Jr., CFP®
(309) 793-6200
2102 E Kimberly Rd Ste 200
Davenport, IA
Firm
IH Mississippi Valley Credit Union

Data Provided by:
Mr. Douglas E. Beasley, CFP®
(563) 388-8800
3705 Utica Ridge Rd
Bettendorf, IA
Firm
Farm Bureau Financial Services

Data Provided by:
Mrs. Andrea M Huebbe, CFP®
(563) 441-9903
1717 State St Ste 101
Bettendorf, IA
Firm
LPL Financial
Areas of Specialization
Asset Allocation, Education Planning, Estate Planning, General Financial Planning, Investment Management, Investment Planning, LGBT Individuals and Couples

Data Provided by:
Mr. David W. Elizondo, CFP®
(563) 359-8783
3475 Utica Ridge Rd
Bettendorf, IA
Firm
True Financial Partners

Data Provided by:
Mr. Kenneth E. Lawson (RFC®), CHFC, CLU, LUTCF
(563) 359-1688
2435 Kimberly Rd Ste 300S
Bettendorf, IA
Company
Client 1st Wealth Management, Inc.
Qualifications
Years of Experience: 44
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Shawn M. Agan, CFP®
(563) 359-3475
5153 Utica Ridge Rd
Davenport, IA
Firm
Unified Financial Strategies,
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management

Data Provided by:
Data Provided by:

Compound and Grow Your Employer Matching Retirement Plan

Provided By: 

Frugal Living

Saving for Retirement: Compound and Grow Your Employer Matching Retirement Plan
By James Lange 
Email Email
Jun 13, 2007, 16:20

   

If your employer offers a matching contribution to your retirement plan, the cardinal rule is: contribute whatever the employer is willing to match even if it is only a percentage of your contribution and not a dollar for dollar match.

Imagine depositing $1,000 of your money into the bank, but instead of getting a crummy toaster, you receive an extra $1,000 to go along with your deposit. To add to the fun, imagine getting a tax deduction for your deposit and not having to pay tax on your gift. Furthermore, both your $1,000 and the gift $1,000 grow (it is to be hoped), and you don t have to pay income tax on the interest, dividends, capital gains, or the appreciation until you withdraw the money. When you withdraw the money, you will have to pay taxes, but you will have gained interest, dividends, and appreciation in the meantime. That is what employer matching contributions to retirement plans are all about. If the employer matches the employee contribution, it offers a 100% return on the investment in one day (assuming no early withdrawal penalties apply and the matched funds are fully vested).

Over the years, I have heard hundreds of excuses for not taking advantage of an employer-matching plan. All those reasons can be summarized in two words: ignorance and neglect. If you didn t know that before, you know now. If you are not currently taking advantage of your employer-matching plan, run don t walk to your plan administrator and begin the paperwork to take advantage of the employer match. Matching contributions are most commonly found within Section 401k, 403b, and 457 plans. Even if your employer is only willing to make a partial match up to a cap, you should still take advantage of this opportunity. A fairly common agreement is that the employer will contribute 50 cents for every dollar up to the first 6 percent of salary you contribute. Don t grouse that it is not enough or not worth it. You have everything to gain this is free money that will compound and grow and as Einstein said, The most powerful force in the universe is compound interest.

As one of the country s top IRA experts, James Lange has developed tax-savvy retirement and estate plans for over 1400 U.S. citizens with appreciable assets in their IRAs and 401(k) plans. In his book, ...

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