Financial Advice Blog

Take the Retirement Money and Run!

by Community Manager  |  ‎06-24-2014 09:37 AM

Bags of money - shutterstock_59462866.jpg

If you want to get fit, there are some basic rules you need to follow, right? Things like exercising, eating healthy, minimizing stress and seeing your doctor regularly.


Financial fitness also has some rules. Here’s one of the biggest: When you’re offered free money, take it. We’re talking about that retirement plan at work.


If your employer offers matching contributions in your retirement plan, if your financial situation allows it, you really should take full advantage of it. After all, once you're vested it’s free money so why not do everything possible to make sure you get all they’re willing to give? It can be an easy way to grow that retirement account more quickly.


Typically all you have to do is visit your plan’s website or submit the right forms to HR and sign up today. Once you’ve done that, you’re in the game.


Not to get ahead of ourselves, but might we also suggest signing up for automatic increases in your contribution as well? Saving is so much easier if you have a plan.


Good luck and get saving.


Scott and JJ



by DLH ‎06-25-2014 01:50 AM
Agreed! I've grown my retirement by 4x in 2 years by maxing out contributions and matching!
by Wdsck447 ‎12-06-2014 07:50 PM

Oh So Very True, Over and over again I speak to members and military peop;e who don't know about even the basics of investing.  Frankly we do a very poor job of reaching out to the young person and providing them with basic information.  A great example is last week I received a call from a retired MGySgt (USMC) whom I had spent about an hour with a year before speaking about his TSP.  Bottom line I told him he should be Max'ing out his TSP and also making the over 50 "catch up" contribuation. One year later, a PHONE CALL THANKING ME FOR THE ADVICE.  Members take advantage of every little option that i available to you, do your research, ask the questions and take action today!!!

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J.J. Montanaro

Joseph "J.J." Montanaro is a CERTIFIED FINANCIAL PLANNER™ practitioner.

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