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Compound and Grow Your Employer Matching Retirement Plan Heath OH

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.

Elizabeth Caldwell
Welsh Hills Financial
(740) 344-2244
1520 W Church St.
Newark, OH
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Middle Income Client Needs, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Ms. Elizabeth G. Caldwell, CFP®
(740) 344-2244
1520 W Church St
Newark, OH
Firm
Welsh Hills Financial

Data Provided by:
Mr. John P. Rossignol, CFP®
(740) 587-3975
1911 Newark Granville Rd
Granville, OH
Firm
The Granville Investment Group, Inc
Areas of Specialization
Comprehensive Financial Planning, Investment Management, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Mr. Michael J. Kocsis, CFP®
(740) 920-4100
128 S. Main Street
Granville, OH
Firm
Lincoln Douglas Investments LLC
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Mr. Jared A Dosch, CFP®
(740) 452-4596
964 Grove Rd
Zanesville, OH
Firm
Northwestern Mutual

Data Provided by:
Mr. Earl R. Borders (RFC®), CHFC, CLU, LUTCF, RHU
(614) 471-7191
1115 Daisy Ln
Heath, OH
Qualifications
Education: AA, BS, MBA
Years of Experience: 21
Membership
IARFC, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Executive Compensation Planning, Retirement Planning, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Healthcare Accounts, BuySell, Compensation Plans

Data Provided by:
Mr. Richard J. Moller Jr., CFP®
(740) 587-1592
1925 Newark Granville Rd
Granville, OH
Firm
Moller & Associates, a private wealth advisory practice of Ameriprise Financial, Inc.
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Investment Management, Life Transitions, Long-Term Care, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Patrick C. Gaul, CFP®
(740) 587-1592
1925 Newark Granville Rd
Granville, OH
Firm
Moller & Associates
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning

Data Provided by:
Mr. Ronald Dewaine Davis, CFP®
(740) 453-0620
113 N. Fifth Street
Zanesville, OH
Firm
Community Financial Advisors

Data Provided by:
Mr. Patrick Ford, CFP®
(740) 450-2159
3606 Maple Ave
Zanesville, OH
Firm
Merrill Lynch Group, Inc.
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

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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