Does your employer offer a company match on your retirement plan? I hope so! Is it a good match, a great match, or an average match?
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results….(read more)
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6% for me after 1yr
I work for a high-tech company; the 401(k) match is pretty weak, max of $2,000 ($ for $).
The 401(k) plan itself is pretty awesome though – both traditional and Roth options. Also, allows “after tax” contributions with in-plan conversions to Roth.
6% for me, 100% match. Bad thing, you have to be an employee of the company on December 31. It's a true match, but doesn't pay out until Feb following year. I contribute $19.500 for '21 and will do $20,500 for '22. That's over $7K extra with the match! I'll take free money. I just broke off the relationship with my CFP last week, too many fees and not enough ROI.
3% for me, take it or leave it
Happy Holidays! Hope Santa brought you TIPS