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February 24, 2015 - Blog

Is this One Idea Worth $1,000 every year?

More than Money with Gene Dickison Answers:

“Is this One Idea Worth $1,000 every year?”

It depends . . . does your 401(k) plan offer a company match?

It makes my head hurt.

When I meet a person whose employer provides a 401(k) and offers a match and they don’t put in enough of their contributions to get all the ‘free’ money their employer is offering.

My head hurts.

An employee making $50,000 working for an employer that provides a 401(k) with a ‘50% match on employee’s contributions up to six per cent (6%) of their pay’ who only puts in two per cent (2%) is walking away from $1,000 each year.  Even more when you calculate tax benefits.

It makes my head hurt.

Free money – gone forever.

Not sure if this is you – find out today!

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