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Compound and Grow Your Employer Matching Retirement Plan Billings MT

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.

Mr. Carl A. Hansen, CFP®
(406) 248-7851
208 N Broadway Ste 100
Billings, MT
Firm
DA Davidson & Co
Areas of Specialization
Investment Management, Planning for Couples, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Dudley H. Shy, CFP®
(406) 655-9228
303 N 28th St
Billings, MT
Firm
Ameriprise Financial Services

Data Provided by:
Scott Aaron Hatler, CFP®
(406) 255-5223
First Interstate Wealth Management
Billings, MT
Firm
First Interstate Wealth Management
Areas of Specialization
Comprehensive Financial Planning, Insurance Planning, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Miss Tarra T. Grazley, CFP®
(406) 256-6112
3012 4th Ave N Ste A
Billings, MT
Firm
TTG Financial Services Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
Mr. Stephen Courtney Knudson, CFP®
(406) 238-8900
401 N 31st St Fl 13
Billings, MT
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000



Data Provided by:
Mr. Paul S. Dunphy, CFP®
(406) 272-1082
404 N 31st St Ste 219
Billings, MT
Firm
Investment Centers of America
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Planning, Social Security Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Gabriel E Lapito, CFP®
(406) 256-5121
208 N. Broadway
Billings, MT
Firm
Strategic Retirement Plans

Data Provided by:
Mr. Timothy Christensen, CFP®
(406) 655-9228
US Bank Building, Suite 300
Billings, MT
Firm
Ameriprise Financial Services,

Data Provided by:
Mr. Brian J. Bentley, CFP®
401 N 31st St Ste 1300
Billings, MT
Firm
Morgan Stanley Smith Barney
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Retirement Planning, Wealth Management

Data Provided by:
Mrs. Julie K. Sullivan, CFP®
(406) 255-8700
401 N 31st St Ste 900
Billings, MT
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000



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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