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Compound and Grow Your Employer Matching Retirement Plan Kingman AZ

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.

Chase Bank
(928) 757-3181
3755 Stockton Hill Rd
Kingman, AZ
Type
Freestanding
Office Hours
Mon:8:30-5:00
Tues:8:30-5:00
Wed:8:30-5:00
Thurs:8:30-5:00
Fri:8:30-6:00
Sat:8:30-1:00
Sun:closed

Bank of America - Kingman
(928) 753-2181
2307 Stockton Hill Rd
Kingman, AZ
Type
Banking Center
Services
Banking Center Services: Commercial Deposits, Night Deposits
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 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-1
Sunday Closed

John Stephens
TCI Wealth Advisors, Inc.
(928) 226-0868
150 W. Dale, Suite 1
Flagstaff, AZ
Expertises
Advising Medical Professionals, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, High Net Worth Client Needs, Ongoing Investment Management, Advising Entrepreneurs
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA, MD

Rebecca Chacko
Chacko-Hertz Financial Solutions
(520) 743-3873
5540 W. Placita Llanura
Tucson, AZ
Expertises
Retirement Planning & Distribution Rules, Middle Income Client Needs, Tax Planning, High Net Worth Client Needs, Special Needs Planning, Newlyweds & Novice Investors
Certifications
NAPFA Registered Financial Advisor, BA, BS, CFP®, MBA, MS

David Rosenthal
Wealth Management Solutions
(480) 609-4334
8550 E Shea Blvd, Suite 130
Scottsdale, AZ
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Tax Planning, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Wells Fargo - Kingman
(928) 753-5555
330 E Beale St
Kingman, AZ
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Wells Fargo - Bashas'-Kingman
(928) 757-1070
3360 E Andy Devine Ave
Kingman, AZ
Type
In-Store Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-04:00 PM
Sun Closed

Michael Searcy
Ronald Blue & Co., LLC
(480) 820-2660
60 East Rio Salado Parkway, Suite 1012
Tempe, AZ
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Charitable Giving - Trusts & Foundations, High Net Worth Client Needs, Planning Issues for Business Owners, Financial Issues Between Generations
Certifications
NAPFA Registered Financial Advisor, ChFc, CLU

Philip Stoker
Stoker Ostler Wealth Advisors
(480) 890-8088
4900 N. Scottsdale Road, Suite 2600
Scottsdale, AZ
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Neal Van Zutphen
Delta Ventures Financial Counsel, Inc.
(480) 924-5613
2855 E. Brown Road, Suite 5
Mesa, AZ
Expertises
High Net Worth Client Needs, Advising Medical Professionals, Financial Psychology/Coaching, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MS

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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