Daily Archives: June 2, 2009
Investing Beyond the Company 401(k) Match
Does your company match your all or part of your 401(k) contribution? With the economy going the way it is, some companies have been cutting back on t…
Should I Invest Beyond The Company Match in My 401(k)?
If you work for a company that offers a match for a 401(k) should you take it? And, how much should you contribute to the 401(k)? If the company offers to match 50 percent of the contribution up to the first 6 percent of your salary you contribute to the 401(k), should you contribute over and above that amount? So many companies today are eliminating 401(k) match programs simply because they can no longer afford them. A listener to Ilyce’s radio talk show wants to know if he should contribute 10 percent to a part-time employer’s 401(k) program. The company will match 50 percent of his 401(k) contribute up to 6 percent of his salary. He wants to know if he should contribute 10 percent of his salary to the 401(k) even though the employer will not match the last 4 percent.
