End of Year Matching Strategies
Thursday November 20, 2008
The end of the year brings plenty of opportunity for tax-planning. There’s an important retirement planning strategy at yearend too. If your employer offers you a match on your 401(k) contribution, your most important financial priority is to take advantage of that match – it’s free money! But if you haven’t done so yet and you’re thinking about turning over a new leaf in January – don’t wait. Start today.
Each calendar year you can reach an annual limit as to how much money your employer will match. By starting now, you can still get several weeks of contributions matched, potentially receiving all the money you would have received had you contributed the entire 2008 year. Then, once January rolls around, you can take advantage again. Waiting until January means you’ll miss a golden opportunity to help your retirement.
Each calendar year you can reach an annual limit as to how much money your employer will match. By starting now, you can still get several weeks of contributions matched, potentially receiving all the money you would have received had you contributed the entire 2008 year. Then, once January rolls around, you can take advantage again. Waiting until January means you’ll miss a golden opportunity to help your retirement.
Excellent update I actually didn’t know that! Its good to see you updating this even during these tough economic times.
Sarah,
Watch Daybreakers Online site admin, fellow blogger.
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