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Compound and Grow Your Employer Matching Retirement Plan Brattleboro VT

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.

Ms. Kelli J. Warriner Crego, CFP®
(802) 257-7766
57 Western Ave
Brattleboro, VT
Firm
Park Place Financial Advisors

Data Provided by:
Michelle A Spaziani, Financial Advisor, CFP®
1063 Western Ave
West Brattleboro, VT
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Government and Military, Healthcare Planning
Key Considerations
Average Net Worth: $250,001 - $500,000



Data Provided by:
Mr. Scott Dana Gordon-Macey, CFP®
(802) 254-7756
441 West River Road
Brattleboro, VT
Firm
MetLife
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Donald T. Ladd, CFP®
(603) 357-1280
82 Washington St
Keene, NH
Firm
Ameriprise Financial
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Intergenerational Planning, Investment Management, Retirement Income Management

Data Provided by:
Mr. Jedediah D Liebert, CFP®
(603) 357-6300
196 Washington St
Keene, NH
Firm
Commonwealth Financial Network

Data Provided by:
Mr. Joseph E. Little, CFP®
(802) 257-7766
57 Western Ave.
Brattleboro, VT
Firm
Park Place Financial Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Investment Management, Retirement Planning, Social Security Planning, Socially Responsible Investments

Data Provided by:
Travis C Shine, CFP®
(802) 257-5500
114 Main Street
Brattleboro, VT
Firm
Ameriprise Financial

Data Provided by:
Mr. Bruce P. Mullen, CFP®
(802) 464-8998
PO Box 400
Wilmington, VT
Firm
Mullen Financial Strategies
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Jeffrey D. Rubin, CFP®
(603) 357-2707
85 Washington St
Keene, NH
Firm
IPIC Inc

Data Provided by:
Mr. Carl J. Gravina, CFP®
(603) 357-1100
171 W Street
Keene, NH
Firm
Wells Fargo Advisors
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Investment Management, Long-Term Care
Key Considerations
Average Net Worth: $500,001 - $1,000,000



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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