Helping business owners and individuals with concentrated positions in their 30s - 50s maximize their tax efficiency & grow wealth | Railroad Investment Group | LPL Financial
If you received $6,000 of employer 401(k) match every year for 30 years, you would have received $180,000. If you receive an average annual return of 7% over those 30 years, it can grow to $566,764. 401(k) is a tool to help achieve financial freedom. Not a scam.
Navigating the complexities of administering a company 401(k) plan can lead to challenges and mistakes. However, errors in 401(k) contributions can have serious consequences. Don't worry, though - we've got you covered! Join us as we discuss the common 401(k) contribution errors and explore how to rectify them, ensuring compliance and peace of mind for your company. https://bit.ly/4aLTsgp
Auto Portability makes it easy for people to move their 401(k) when they change employers, giving them the ability to focus more on the things that matter. Have you adopted it for your plan yet? https://lnkd.in/ebwg9248
Do you still have old 401k accounts with previous employers? If yes, some questions ???? * Do you know how much ?? is in those accounts? * Where is that money? * Who is controlling it? * Who would your family call to get access to it if something happened to you? Maybe its time to consolidate them before they’re permanently forgotten. ?? #moneytips
If you have multiple 401k's, leaving them with your old employers has pros and cons. Here is a handy chart of things to consider. Download Here: https://bit.ly/3TM3E1d
??The Frugal Fiduciary's Tip of the Week?? “When a 401(k) plan includes an automatic enrollment feature, eligible employees must be automatically enrolled at a preset contribution rate unless the employee elects a different rate. “ Read more about SECURE 2.0’s automatic enrollment mandate for 401(k) plans here: https://hubs.ly/Q02B8n120 #401k #secureact2
Financial Consultant
2 个月That a great way to help encourage 401k savers, if that’s the match amount, what is there retirement account up to?