Choosing a job based on who matches the most!

**elohimrules** · 10-22-2007, 07:52 PM

I will be starting a new job soon and what interests me the most is who has the largest matching retirement. I had one offer who said they match 50% up to 3% of my income. Yet, another job offered 50% up to 7%. It pays to shop around and get specifics on retirement benefits. 401k's are a great way to grow wealth fast if they are taken advantage of fully! Exciting stuff!

**Jaded** · 10-22-2007, 09:01 PM

I really need to learn more about my 401(k). I don't have a lot to put into it right now, but I know they match up to a certain % and I need to know for future reference.

I mean, it's free money, right? I'm not planning on going anywhere, so I could just count that as extra salary.

But you know what...someone once told me that when people save up to the maximum, they are given smaller raises, because it's assumed they don't need the money. Also, because they company is contributing so much to the 401(k).

I remember hearing that Home Depot and Wal-Mart like to fire people just before they are vested in the retirement plan. Figures.

**elohimrules** · 10-23-2007, 06:55 AM

When you invest in your 401k the max percent you are giving yourself your own raise. The 401k is pre-tax income. When you choose not to invest and take it home to yourself it is taxed, therefore you loose that money. If you are lucky enough to have a match, that is free 100% profit money! It is a wonderful way to build wealth fast. I suggest maxing it out. You will appreciate the fact that you did down the road.