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Compound and Grow Your Employer Matching Retirement Plan Cheyenne WY

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. John M. Bailey, CFP®
(307) 638-0136
PO Box 2167
Cheyenne, WY
Firm
Ameriprise Financial Services,
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Brian D. Eilers, CFP®
(719) 632-4188
6232 Yellowstone Rd
Cheyenne, WY
Firm
Raymond James Financial Services, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Planning, Tax Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mrs. Valerie E. Cirbo, CFP®
(307) 632-1148
3610 Dell Range Blvd., Suite A1
Cheyenne, WY
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Long-Term Care
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Government Employees

Data Provided by:
Mr. Kyle D. Geffre, CFP®
(307) 633-8404
401 West 19th
Cheyenne, WY
Firm
First Interstate Bank Wealth Management
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
US Bank - Frontier Mall Office
(307) 772-4060
1437 Prairie Ave
Cheyenne, WY
Drive Up Hours
Mon 08:00 am to 05:30 pm
Tue 08:00 am to 05:30 pm
Wed 08:00 am to 05:30 pm
Thur 08:00 am to 05:30 pm
Fri 08:00 am to 05:30 pm
Sat 09:00 am to 12:00 pm

Ms. Sandra S. Patrick, CFP®
(307) 638-7526
PO Box 2330
Cheyenne, WY
Firm
First Allied Securities, Inc.

Data Provided by:
Mr. Randell L. Ford, CFP®
(307) 632-9281
1923 Central Av.
Cheyenne, WY
Firm
Brewster Miller Financial Grou

Data Provided by:
Ms. Dixie M. Roberts, CFP®
(307) 778-8321
3000 Central Ave
Cheyenne, WY
Firm
Ameriprise Financial
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Investment Management, Retirement Income Management, Tax Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Rocky C. Case, CFP®
(307) 514-2961
1201 W. 8th Ave.
Cheyenne, WY
Firm
Case Financial Services

Data Provided by:
Wells Fargo - Cheyenne Downtown
(307) 771-3711
1701 Capitol Ave
Cheyenne, WY
Type
Branch
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 09:00 AM-01:00 PM
Sun Closed

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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