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

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

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: If you would like to schedule a free assessment with one of our CFP® professionals, click here: Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” Channels & show times: IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors. #YourMoneyYourWealth #YMYW #YourMoneyYourWealthPodcast...(read more)

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