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Compound and Grow Your Employer Matching Retirement Plan Kailua Kona HI

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. John G Kerr, CFP®
(808) 329-4531
71-1666 Puu Napoo Drive
Kailua Kona, HI
Firm
Blue Skies Financial Planning, LLC
Areas of Specialization
Asset Allocation, Banking, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Steven R. Fassbender, CFP®
(808) 930-7773
75-5813 Kini Loop
Kailua Kona, HI
Firm
Steven R Fassbender Financial

Data Provided by:
Monica Jennings
Jennings Financial Planning, Inc
(808) 792-0088
1600 Kapiolani Blvd., Suite 1000
Honolulu, HI
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

David Jacobs
Pathfinder Financial Services, LLC
(808) 728-4396
555 Paakiki Place
Kailua, HI
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, PhD

Lesley Brey
L.J. Brey, Inc.
(808) 526-2644
321 Halaki Street
Honolulu, HI
Expertises
Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, AIF, CFA, CFP®, MBA

Mr. Taylor M Easley, CFP®
(808) 334-1645
75-5660 Kopiko St Ste A1
Kailua Kona, HI
Firm
Raymond James
Areas of Specialization
Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Marjorie Bennett
Aegis Capital Management Inc.
(510) 655-9333
3975 Aloali'i Drive
Princeville, HI
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, High Net Worth Client Needs, Socially Responsible Investments, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFA, MBA

F. Dennis De Stefano
De Stefano Wealth Management
(808) 879-0454
P.O. Box 1141
Kihei, Maui, HI
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, CRC

Ronald D. Miller
Resource Management LLC
(808) 429-8123
41-973 Laumilo Street
Waimanalo, HI
Expertises
Helping Clients Identify & Achieve Goals, Advising Medical Professionals, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, AAMS, AIF, AIFA, CFP®, DDS, AWMA

Harry Kasanow
Kasanow & Associates: Wealth Management
(808) 382-1511
3268A Paty Drive
Honolulu, HI
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, M.Ed.

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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