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Compound and Grow Your Employer Matching Retirement Plan Lake Charles LA

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.

John Hixson
Financial Management Professionals
(337) 433-4334
4841 Ihles Road
Lake Charles, LA
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, CLU

Mr. Richard A. Hinton, CFP®
(337) 477-1866
3101 Lake St. Ste 102
Lake Charles, LA
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Ms. Denise E. Rau, CFP®
(337) 480-3835
1634 Ryan St
Lake Charles, LA
Firm
LPL Financial
Areas of Specialization
Social Security Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Richard D Clements Jr., CFP®
(337) 491-0758
791 East Bayou Pines Drive
Lake Charles, LA
Firm
Merrill Lynch
Areas of Specialization
Asset Allocation, General Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Sudden Wealth Management, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Robert Reed Mendelson Jr., CFP®
(337) 477-1866
3101 Lake St
Lake Charles, LA
Firm
Ameriprise Advisor Services, Inc.

Data Provided by:
Mr. Adam K. Veron (RFC®), MSFS
(337) 494-3836
1304 Enterprise Blvd.
Lake Charles, LA
Company
Asset Planning & Consulting, LLC
Qualifications
Education: Masters Degree in Financial ServocesSeries 6,7,63,65Louisiana Civil Law NotaryLife and Health insuranceProperty casualty ins. licenseCertified Mutual Fund SpecialistBoard Certified in Estate PlanningCertified Annuity SpecialistBoard Cert
Years of Experience: 14
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Healthcare Accounts, Charitable Foundations, Asset Protectio

Data Provided by:
Mr. Dustin R Granger, CFP®
(337) 439-9081
One Lakeshore Dr.
Lake Charles, LA
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Education Planning, Estate Planning, Investment Management

Data Provided by:
Mr. Terry D. Backhaus, CFP®
(337) 437-9950
800 Ryan St Ste B
Lake Charles, LA
Firm
Backhaus Financial Group LLC
Areas of Specialization
Comprehensive Financial Planning, Employee and Employer Plan Benefits, Insurance Planning, Investment Management, Long-Term Care, Retirement Planning, Small Business Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. H. David Jones, CFP®
(337) 439-9081
One Lakeshore Dr
Lake Charles, LA
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning, Investment Management

Data Provided by:
Kenneth L. Agee (RFC®), CSA
(337) 491-7600
2527 Common Street
Lake Charles, LA
Company
True North Asset Management
Qualifications
Education: BS
Years of Experience: 14
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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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