Posted by Howe Q. Wallace on Wednesday, January 20th, 2016
Do you participate in the company’s 401 (k) program?
I read an article recently that said since people are living longer and the nature of retirement plans have changed, many people get to retirement age and don’t have enough resources accumulated. That doesn’t need to be your story.
The 401 (k) plan is our effort to contribute to the money you will need when you retire. It’s true that it requires your contribution, but it is a contribution that is necessary to take care of your long term needs.
If you contribute 3% of your gross pay each week, the company matches it. That’s doubling your money every week.
If your gross pay is $600, 3% is $18. We give you $18 to go with it. It gets invested and starts growing too.
Money invested weekly mounts up over time. Statistics show that the sooner you start, the more dramatic your accumulation.
From your initial participation, every dollar we provide is yours.
Should you leave the company, you get to take it with you.
If for some reason an emergency arises, you can borrow the money from yourself and pay yourself back.
It almost sounds too good to be true but, it’s true nonetheless.
Most people tell me that they think they will miss the money. After they try it, they find the adjustments are easier than they thought.
When they see how quickly the money accumulates, their decision to participate is validated.
So, if you’re eligible, sign up as soon as you can. You can thank me later.