Are You Using Your Employer Match to the Max? Are you leaving free money on the table?

Many companies offer tax-advantaged retirement plans where they incentivize retirement savings by matching the portion of your salary that you contribute to the plan, up to a certain percentage. This is like getting a raise from your employer but that you defer. This money can be accessed after you are vested, typically 1 – 5 years. The IRS also provides several penalty free withdrawals before age 59 ½ if you qualify. Here is a link to the list:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions 

If you then invest the money in your retirement account over the long term in an Exchange Traded Fund (ETF) like “SPY” you will have a great start on a retirement portfolio. Of course, before investing, check in with your financial advisor to determine what investments are suitable for your situation.

For more information on budgeting, financial planning, saving, and investing, check out our books full of stories and examples to guide you on your path to financial independence.

https://parentsfin.wixsite.com/website/books or our books on Amazon 

Raising Financially Independent Children

Financially Independent Teens

Financial Independence Essentials

Financial Essentials for Couples 

Financial Essentials for Women by Women

Budgeting for Women by Women

#savingforretirment #401kplans #whatisacomoanymatch  #rerirementsavings #freemoney #whentostartsavubgforretiremebt  #myretiremntplam #Budgetingforretirement # simplepathwealth  #personalfinance #Investingbasics #Thepowerofcompounding #financialindependence #Settingfinancialgoals #Emergencyfund  #financebook #Savings #Savingforetirement #Retiremen planning #Employermatches #FinancialFreedom #yourmoneylife #simplepathwealth # financialindependence #