Should I Contribute to My Company Retirement Plan Even Without an Employer Match? – YMYW podcast

by Retirement Advisor | Dec 6, 2022 | 457 Plan

On the Your Money, Your Wealth® podcast episode #215, Joe Anderson, CFP® and “Big Al” Clopine, CPA answer this question from Scott in New York: “Good day and thanks for the podcast. My question is, do you still advise contributing to a company 401(k) or 457 even if the company DOES NOT provide any matching funds? Since I work for a state agency, there is no matching, however, I have a pension that I contribute to which amounts to 5% of my income each year. Would you suggest contributing some funds to the 401(k)/457 and some funds to an IRA, or some combination? The tax deductibility is good, but I would also like the “free money”. But seems you can not have both working for the state. Thanks for your time.” Read the transcript and show notes or listen to the full podcast:

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