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Compound and Grow Your Employer Matching Retirement Plan Idaho Falls ID

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.

Joseph Call
Spinnaker Financial Advisors, LLC
(208) 542-0742
2962 Cortez Avenue
Idaho Falls, ID
Expertises
Helping Clients Identify & Achieve Goals, Planning Concerns for Corporate Executives, Ongoing Investment Management, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Mr. Glen C. Wright, CFP®
(208) 523-9900
3363 Merlin Dr
Idaho Falls, ID
Firm
Randall S. Linde & Associates
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Joseph R. Call, CFP®
(208) 542-0742
2962 Cortez Ave
Idaho Falls, ID
Firm
Spinnaker Financial Advisors, LLC
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, Investment Planning, Retirement Income Management

Data Provided by:
Mr. Patrick A. Trimp, CFP®
(208) 542-0161
1195 South Boulevard
Idaho Falls, ID
Firm
Wells Fargo
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Ms. Vicki Motloch, CFP®
(208) 529-3993
1075 S Utah Ave Ste 100
Idaho Falls, ID
Firm
Waddell & Reed
Areas of Specialization
Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Government Employees

Data Provided by:
Mr. Olin Keith Barkdull, CFP®
(208) 980-7262
PO Box 3302
Idaho Falls, ID
Firm
Barkdull Financial Group

Data Provided by:
Mr. Brian D. Daniels, CFP®
(208) 524-1417
2539 Channing Way Ste 260
Idaho Falls, ID
Firm
Thriivent Financial for Lutherans
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, General Financial Planning, Insurance Planning, Intergenerational Planning, Investment Planning, Long-Term Care

Data Provided by:
Mr. Douglas L. Murphy, CFP®
(208) 528-6700
1522 Elk Creek Dr
Idaho Falls, ID
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Daniel Mcpherson, CFP®
(208) 528-7922
1488 Midway Ave
Ammon, ID
Firm
Strategic Wealth Concepts

Data Provided by:
Mr. David L. Eckman, CFP®
(208) 533-6115
900 Pier View Dr.
Idaho Falls, ID
Firm
Wells Fargo Advisors, LLC

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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