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Compound and Grow Your Employer Matching Retirement Plan Tucson 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.

Rebecca Chacko
Chacko-Hertz Financial Solutions
(520) 743-3873
PO Box 86711
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

Rebecca Chacko
Chacko-Hertz Financial Solutions
(520) 743-3873
2534 E. Richards Place
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

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

John Stephens
TCI Wealth Advisors, Inc.
(877) 733-1859
4011 East Sunrise Drive
Tucson, 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

David Diesslin
Diesslin & Associates, Inc.
(520) 825-5465
65087 East Rocky Mesa Drive
Tucson, AZ
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Charitable Giving - Trusts & Foundations, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Patricia Raskob
Raskob Kambourian Financial Advisors, Ltd.
(520) 690-1999
4100 N. First Avenue
Tucson, AZ
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Tax Planning, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, ATA, BS, CFP®, EA

William Holliday
Financial Freedom Associates, LLC
(520) 325-0769
2531 E Richards Place
Tucson, AZ
Expertises
Helping Clients Identify & Achieve Goals, Socially Responsible Investments, Retirement Plan Investment Advice, Tax Planning, Advising Employee Benefit Plan Participants, Cash Flow/Budgets/Credit Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MS

Mark Stempel
Encore Wealth Advisors
(520) 531-9977
3953 E. Paradise Falls Drive
Tucson, AZ
Expertises
Retirement Plan Investment Advice, Middle Income Client Needs, Advising Medical Professionals, Retirement Planning & Distribution Rules, Socially Responsible Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, EA, MA

Michael Burdick
Gordian Advisors
(520) 615-2779
2482 E River Road
Tucson, AZ
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Frank Presson
Presson Financial Associates, LLC
(520) 733-0065
7470 East Knollwood Drive
Tucson, AZ
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Estate & Generational Planning Issues, Divorce Planning, College/Education Planning, Alternative or Private Investments
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

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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