Employer matching contributions can significantly boost your retirement savings. Here’s how to make the most of this valuable benefit.

1. Contribute Enough to Get the Full Match

The first step in maximizing your employer match is to contribute enough to qualify for the full match. For example, if your employer matches 50% of the first 6% of your salary, ensure you’re contributing at least 6%.

2. Understand Your Employer’s Vesting Schedule

Many employers have a vesting schedule, which means you don’t own the full matching contributions until you’ve worked with the company for a certain number of years. Make sure you understand your employer’s vesting rules, especially if you plan to change jobs.

3. Take Advantage of Tax Benefits

Contributions to a traditional 401(k) are pre-tax, which lowers your taxable income. This means you’re not only getting “free money” from your employer, but you’re also saving on taxes in the current year while letting your investments grow tax-deferred.

---

Resources:

• IRS: 401(k) contribution limits and rules: irs.gov
• Fidelity: 401(k) match calculator: fidelity.com

Insurance products are offered through the insurance business McIntosh & Associates, Inc.. McIntosh & Associates, Inc. is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Adviser. AEWM does not offer insurance products. The insurance products offered by McIntosh & Associates, Inc. are not subject to Investment Adviser requirements. Investing involves risk, including the potential loss of principal. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. 2630699 10/24