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Compound and Grow Your Employer Matching Retirement Plan Nashua NH

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.

Peter Canniff
Advanced Portfolio Design, LLC
(603) 889-4300
266 Main Street
Nashua, NH
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, High Net Worth Client Needs, Estate & Generational Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Jennifer Davidson
Milestone Financial Planning, Inc.
(978) 649-8875
733 Main Street
Dunstable, MA
Expertises
Ongoing Investment Management, Middle Income Client Needs, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

John Dulmage
Financial Pathways
(603) 821-1450
50 Nashua Road 112 Londonderry Square
Londonderry, NH
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Real Estate Investments, Socially Responsible Investments, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Kathryn Lund
Mosaic Financial Advisors, LLC
(978) 692-4475
6 Crusade Road
Westford, MA
Expertises
Tax Planning, Ongoing Investment Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Women's Financial Planning Issues, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA, MSFP, MST

Charles Johnson
Resolute Financial, LLC
(978) 463-8771
21 Alpine Lane #2
Chelmsford, MA
Expertises
Planning Issues for Business Owners, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Real Estate Investments, College/Education Planning, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, CFP®

Sherrill St. Germain
New Means Financial Planning
(603) 465-3485
P.O. Box 666
Hollis, NH
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Dorothy Cole
Dorothy J. Cole
(800) 352-6530
11 Blackstone Court
Merrimack, NH
Expertises
Planning Issues for Business Owners, Divorce Planning, Financial Issues Between Generations, Middle Income Client Needs, Advising Medical Professionals, Special Needs Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA, EdM

Robert Ryan
Resolute Financial, LLC
(978) 463-8771
21 Alpine Lane #2
Chelmsford, MA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Insurance Related Issues, including Annuities, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CEBS, CFP®, ChFc, JD, MSFP

George Paquin
Resolute Financial, LLC
(978) 463-8771
21 Alpine Lane #2
Chelmsford, MA
Expertises
Insurance Related Issues, including Annuities, Ongoing Investment Management, Socially Responsible Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, EA, MBA

Robert Bartley
Bartley Financial Advisors
(603) 625-9900
169 South River Road, Suite 17
Bedford, NH
Expertises
Advising Entrepreneurs, Advising Medical Professionals, Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

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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