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Compound and Grow Your Employer Matching Retirement Plan Fort Benning GA

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. Tami Wyrosdick Mcdonald, CFP®
(706) 649-5354
1137 1st Ave Fl 3
Columbus, GA
Firm
Columbus Bank and Trust Company/Synovus Securities, Inc.
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. Lawrence W. Hoffman (RFC®), CFP, CHFC
(706) 323-9980
18 9th Street, Suite 500
Columbus, GA
Company
First Command Financial Planning
Qualifications
Education: BS in General Engineering from United States Military Academy (West Point). MS in Administration from Central Michigan. MS in Secondary School Education (Principal) from East Central University (Oklahoma).
Years of Experience: 11
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Family Offices, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Miss Katherine C. Dunlevie, CFP®
(706) 641-3997
1111 Bay Ave Ste 400
Columbus, GA
Firm
Synovus Family Asset Management

Data Provided by:
Lawrence W Hoffman Ii, CFP®
(706) 323-9980
18 9th St Ste 500
Columbus, GA
Firm
First Command Financial Planni
Areas of Specialization
Asset Allocation, Banking, Budget Development, Comprehensive Financial Planning, Debt Management, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Government Employees

Data Provided by:
Mr. Stephen S Lorentz Sr., CFP®
(706) 644-8639
1148 Broadway
Columbus, GA
Firm
Synovus Financial/Columbus Ban
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000



Data Provided by:
Raymond Lawton, CFP®
(478) 474-1106
807 Goodson Dr
Columbus, GA
Firm
Concorde Investment Services
Areas of Specialization
Comprehensive Financial Planning, General Financial Planning, Insurance Planning, Investment Planning, Life Transitions, Long-Term Care, Planning for Couples

Data Provided by:
Mr. Mark W Hudson, CFP®
(706) 649-3623
1246 1st Ave
Columbus, GA
Firm
SunTrust Investment Services, Inc.
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning

Data Provided by:
Mr. James K. Dickinson, CFP®
(706) 641-3942
1111 Bay Ave Ste 400
Columbus, GA
Firm
Synovus Family Asset Management

Data Provided by:
Mrs. Colleen F. Jowers, CFP®
(706) 315-5381
1137 1st Ave Fl 3
Columbus, GA
Firm
Synovus
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Planning, Special Needs Planning, Sudden Wealth Management

Data Provided by:
Mr. Gary John Hurley, CFP®
(706) 644-9989
1137 1st Ave
Columbus, GA
Firm
Columbus Bank & Trust Co

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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