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My company matches 3%. Is that low or on par?
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I would prefer to have those but not sure I would make a decision just based on that. It would factor into comp negotiations though. Do they offer a 401k just no match? Do they offer a HDHP? If so you can set up your own HSA
To add on to above, these are just comp amounts. If I have an offer that $100k with a decent 401k match or an offer with $110k with no 401k match, they may be the same in total compensation you receive. In this scenario, if your match is under 10%, you’re better off going with the latter package if you’re sole deciding factor is total comp.
Agree with EY1, it’s a different story if they do provide 401K option but no match vs no 401K at all.
Everyone is different and think differently, but I would prefer a company that offers 401K so I can keep saving for retirement. If they don’t offer match, you can ask for higher pay to cover the 401K and HSA.
They do offer a 401K option!
There are other ways to grow wealth now and for your future retirement.
Personally I have invested heavily in high cash value whole life insurance with guaranteed growth allowing me to keep my funds safe, liquid and in tax protected accounts, building wealth by using my funds to invest in other cash flowing assets, avoiding volatile markets and thriving through high inflation.
If a whole life insurance policy is structured properly focusing on cash value growth for the policy owner, meaning the larger part of the premium goes into the cash value for the policy owner to use to grow by investing in other investments, paying off debts, buying real estate, or whatever, it is up to the policy owner becuase it is in their control.
If a policy owner should pass at anytime and their is a policy loan the death benefit is reduced to pay the policy loan:
Example, if a policy owner has a $1M death benefit and an outstanding loan of say $500k for a piece of realestate they purchased, then the death benefit of the $1M less the $500k, less any premium due, if any, less that year worth of unpaid interst, if any, still leaves a healthy sum of tax free cash to the benificiary and the real estate which was purchased, plus all the appreciation value, remember, the policy does not own the real-estate even when you use the policy to buy the realestate.
Now, say a policy owner buys a policy and say their cash value has grown to say $100k and they have a $1M death benefit, (numbers are not spot on, just example), now say the policy owner passes away having no outstanding policy loans and no premiums due, then the Insurance company keeps the $100k cash value and pays out the $1M death benefit plus the added growth on the death benefit per the policy contract.
Yes, I am a Life Insurance Agent as well as a Financial Wellness Coach and Signing Agent.
I place my focus on helping others build wealth because I truely understand how difficult it is without help, I have been there.
I chose Life Insurance because it has transformed my life and many others I mentor.
I agree Whole Life Insurance is not for everyone, however it should not be discarded being it is used by banks, corporation, investors and non investors, look up BOLI and COLI, Bank Own Life Insurance and Corporate Own Life Insurance.
I help individuals and companies mimic already successful strategies to build steady wealth, which I too invest in and use.
Hope this helps answer some questions.