HOME BUSINESS STEP-BY-STEP GUIDES  ||  WORK AT HOME IDEAS  ||  BIZ OPPS  ||   ARTICLES  ||  CLASSIFIEDS   ||  MESSAGE BOARDS
WAHM Directory  ||  Promote Your Business ||  Links  ||  Freebies  ||  Kid Stuff  ||  Recipes  ||  Work at Home Blog  ||  Contact  ||  Advertise
  TOP 20 WORK AT HOME JOBS IN YOUR CITY  ||  WORK AT HOME JOB SEARCH  ||  OUR SITES  ||  PRINTABLES   ||  BIZ TOOLS   ||  ABOUT 

Compound and Grow Your Employer Matching Retirement Plan Portland ME

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.

Jill Boynton
Cornerstone Financial Planning, LLC
(207) 772-8133
70 Center Street, 2nd Level
Portland, ME
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Divorce Planning, Hourly Financial Planning Services, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CDFA, CFP®

Jeffrey Bogue
Bogue Asset Management
207-699-1331 Ext. 6331
415 Congress Street
Portland, ME
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, Advising Medical Professionals, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Karen Elise Kilbride
On Course Financial Group, LLC
(207) 775-1177
14 Pleasant Street
Portland, ME
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Advising Employee Benefit Plan Participants, Women's Financial Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Ms. Maryjane Holmes, CFP®
(207) 781-7301
77 Middle St
Portland, ME
Firm
Northeast Financial Services
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Business Executives

Data Provided by:
Mr. Scott B Dow, CFP®
(207) 253-3403
511 Congress St Ste 601
Portland, ME
Firm
Northwestern Mutual Investment Services

Data Provided by:
Thomas Rogers
Portland Financial Planning Group, LLC
(207) 771-8821
477 Congress Street, Suite 814
Portland, ME
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Planning Issues for Unmarried & Same-Sex Couples, Insurance Related Issues, including Annuities, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Michael Donahoe
On Course Financial Group, LLC
(207) 775-1177
14 Pleasant Street
Portland, ME
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Susan Veligor
Cornerstone Financial Planning, LLC
(207) 772-8133
70 Center Street, 2nd Level
Portland, ME
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Hourly Financial Planning Services, Women's Financial Planning Issues, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Mr. Craig Joncas, CFP®
44 Exchange St Ste 303
Portland, ME
Firm
Penobscot Financial Advisors

Data Provided by:
Mr. James L. Jackson, CFP®
(207) 775-2990
2 Portland Square
Portland, ME
Firm
RBC Wealth Management

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, ...

Click here to read more from Momsnetwork.com

Free Content for Websites   Free Fax Covers   Direct Sales Opportunities   Home Business Profiles   Message Boards
How to Choose a Home Based Business   100 Home Party Games   Work at Home Tips  Guide to Direct Sales Success  
Partners In Success   Free Online Business Card   Webring   Coloring Pages  Crafts   Recipes   Moms Network Blog

©Copyright 1997 - 2011 Moms Network Exchange (MNE) No content from the MNE site can be used without written permission.
Fines will be issued to those who use content, images, html, and other properties of this site without written permission.
Moms Network  P.O. Box 238  Rosemount, MN  55068 (phone) 651-423-4036  (fax) 651-322-1702
Contents © Moms Network | Privacy Policy

 There are currently 5 visitors online.