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Compound and Grow Your Employer Matching Retirement Plan Concord NH

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.

Glenn Sweeney
SFM, LLC
(603) 625-8400
575 Front Street
Manchester, NH
Expertises
Planning Issues for Business Owners, Ongoing Investment Management, Real Estate Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFA, CPA

Mr. Ron Valpey, CFP®
(603) 856-7945
One Eagle Square
Concord , NH
Firm
Valpey Financial Services, LLC
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. John R. Heise, CFP®
(603) 581-7125
9 Franklin St
Concord, NH
Firm
Atlas Financial Group, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Elder Care
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Robert S. Blood, CFP®
(603) 224-3691
194 Pleasant St
Concord, NH
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
Mr. Paul M. Provost, CFP®
(603) 223-2737
89 N Main St
Concord, NH
Firm
Merrimac County Savings Bank

Data Provided by:
Ms. Stacey L. Blodgett, CFP®
(603) 296-0063
2 S State St
Concord, NH
Firm
Globe Wealth Management
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning

Data Provided by:
Mrs. Regina M. Kozsan, CFP®
(603) 296-0063
2 S State St
Concord, NH
Firm
Globe Wealth Management

Data Provided by:
Ms. Diane J. Destefano, CFP®
(603) 856-5211
90 N Main St
Concord, NH
Firm
Charter Trust Company
Areas of Specialization
Charitable Giving, Elder Care, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Investment Management, Retirement Planning

Data Provided by:
Bill Kearney, CFP®
(603) 224-4094
46 S MAIN ST
CONCORD, NH
Firm
Wedbush Securities
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning

Data Provided by:
Mr. William J. Gleeson, CFP®
(603) 540-9586
109 1/2 S State St
Concord, NH
Firm
Modern Woodmen of America/MWA Financial Services, Inc.

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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