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Compound and Grow Your Employer Matching Retirement Plan Eagle River AK

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. Edwin H. Chan, CFP®
(907) 330-8338
4300 Boniface Parkway
Anchorage, AK
Firm
Alaska Housing Finance Corp

Data Provided by:
Bryan Michael Anderson, CFP®
(907) 272-2444
731 I St Ste 202
Anchorage, AK
Firm
Edward Jones Investments
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Investment Management, Retirement Planning, Securities
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Jeffrey N. Gaylard, CFP®
(907) 257-5289
701 W 8th Ave Ste 900
Anchorage, AK
Firm
New York Life Insurance Company

Data Provided by:
Mr. Micah Vincent Shilanski (RFC®), CFP, CSA
(907) 278-1351
431 W. 7th Avenue Suite 100
Anchorage, AK
Company
Shilanski & Associates, Inc.
Qualifications
Years of Experience: 9
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Education Plan, Healthcare Accounts, BuySell

Data Provided by:
Ms. Helen M. Sedlacek, CFP®
(907) 278-8878
3601 C Street
Anchorage, AK
Firm
Mikunda Cottrell & Co CPAs

Data Provided by:
Mr. Stephen J. Heavey, CFP®
(417) 461-0347
5432 E Northern Lights Blvd
Anchorage, AK
Firm
Financial Planning Center Inc
Areas of Specialization
Divorce Issues, Elder Care, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Life Planning, Real Estate
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Matthew D. Blattmachr, CFP®
(907) 278-6775
1029 W 3rd Ave Ste 400
Anchorage, AK
Firm
Alaska Trust Company
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Ms. Laura G Bruce, CFP®
(907) 440-2256
900 W. 5th Ave. Ste. 601
Anchorage, AK
Firm
Alaska Permanent Capital
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Elder Care, Estate Planning, Investment Management

Data Provided by:
Brian Pinkston, CFP®
310 K St Ste 200
Anchorage, AK
Firm
Bright Road Wealth Management
Areas of Specialization
Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Investment Management, Retirement Planning

Data Provided by:
Mr. Wayne M. Pichon, CFP®
(907) 258-6565
3900 C St Ste 502
Anchorage, AK
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Medical/Dental Professionals

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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