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Compound and Grow Your Employer Matching Retirement Plan Greeneville TN

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.

Patrick S Johnson, CFP®
(423) 798-2249
2841 E Andrew Johnson Hwy
Greeneville, TN
Firm
First Tennessee Brokerage, Inc.
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. William Frank Richmond, CFP®
(423) 218-0913
90 Naples Lane
Greeneville, TN
Firm
XIM Consulting
Areas of Specialization
Accounting, Banking, Budget Development, Comprehensive Financial Planning, Debt Management, General Financial Planning, Healthcare Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Guy G Lillycrop, CFP®
812 E Jackson Blvd
Jonesborough, TN
Firm
Crossbridge Wealth Management
Areas of Specialization
Banking, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, Estate Planning, General Financial Planning

Data Provided by:
SunTrust Bank
(423) 753-3551
401 East Jackson Boulevard
Jonesborough, TN
Type
ATM, Branch, Mortgage Office, Investment Center, Drive-Thru
Office Hours
Monday: 9-5
Tuesday: 9-5
Wednesday: 9-5
Thursday: 9-5
Friday: 9-6 Weekend:
Drive Up Hours
Monday: 8:30-5
Tuesday: 8:30-5
Wednesday: 8:30-5
Thursday: 8:30-5
Friday: 8:30-6 Weekend:

US Bank - Rogersville-Highway 66 Office
(423) 272-4671
4015 Highway 66 S
Rogersville, TN
Drive Up Hours
Mon 07:30 am to 05:00 pm
Tue 07:30 am to 05:00 pm
Wed 07:30 am to 05:00 pm
Thur 07:30 am to 05:00 pm
Fri 07:30 am to 06:00 pm

Mr. Brian J Click, CFP®
(423) 783-1033
913 Tusculum Blvd
Greeneville, TN
Firm
Andrew Johnson Bank
Areas of Specialization
Asset Allocation, Banking, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Steven L Dick, CFP®
(423) 636-1800
705 Professional Plaza Drive
Greeneville, TN
Firm
Strong Heritage Financial Group
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Bank of America - Greeneville Plaza
(423) 636-6340
1545 East Andrew Johnson Hwy
Greeneville, TN
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4:30
Tuesday 9-4:30
Wednesday 9-4:30
Thursday 9-4:30
Friday 9-5
Saturday 9-1
Sunday Closed
Drive Up Hours
Monday 9-4:30
Tuesday 9-4:30
Wednesday 9-4:30
Thursday 9-4:30
Friday 9-5
Saturday 9-1
Sunday Closed

US Bank - Rogersville-Main Office
(423) 272-7622
107 E Main St
Rogersville, TN
Drive Up Hours
Mon 07:30 am to 05:00 pm
Tue 07:30 am to 05:00 pm
Wed 07:30 am to 05:00 pm
Thur 07:30 am to 05:00 pm
Fri 07:30 am to 06:00 pm

Don VanLandingham
Guardian Wealth Management Inc.
(423) 510-0409
6151 Shallowford Road, Suite 102
Chattanooga, TN
Expertises
High Net Worth Client Needs, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

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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