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Boosting Your Future: Maximize Employer Retirement Contributions · Money In Motion with Klaas Financial

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This is Money in Motion with Class Financial, a fun and informative show designed
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to help you get answers to all your retirement questions in one place. Lines
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are open for you right now at six oh eight three two one thirteen ten.
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That's six oh eight three two one thirteen ten. Love to get you
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on the air this morning with our retirement planning professionals from Closs Financial. Of
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course, the crew at Coss Financially. We can learn more about them on
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their website Coss Financial dot com. That's Coss k l aa s financial dot
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com. Their telephone number six oh eight four four two five six three seven,
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No charge for that initial gets no appointment at Coss Financial. It will
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be complementary to you again that number six oh eight four four two five six
0:49
three seven. Their website costs financial dot com. That's k l aas financial
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dot com. Great website and great resource to learn more about Class Financial.
0:58
Talk a little bit more about the website as the program goes on this morning,
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and we are joined this week by CJ Class and Forrest Ross of Class
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Financial. CJ. How you doing this morning? Hey? CJ? How
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you doing? We'll go over to having some technical problems to go to Forest
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Forrest. How you doing this morning. I'm doing very well, Sean,
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Thank you very much. Great to have you back on and great to talk
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with you. We're able to get CJ good to go or see still having
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some connection issues. Okay, well we'll get that all worked out. And
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great to have you back with us, Forrest, and I know we've got
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a fantastic conversation ahead talking about the importance of saving into your own retirement plan
1:37
and some other other great things as well. This morning on Money in Motion
1:41
with Class Financial, I mentioned the website Class financial dot com. If you
1:45
haven't been there recently, definitely check it out. Class that's k l a
1:48
as Financial dot com. That is the website. Why you're there. You
1:51
can not only learn more about Coss Financial the team, you can learn about
1:55
their separate divisions at costs financially. You can also sign up for the weekly
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market Paul snowsletter that available to you right at Clossfinancial dot Com. There telephone
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number six oh eight four four two five six three seven. No charge for
2:08
that initial gets know you appointment at Coss Financial. It will be complimentary to
2:13
you again their number six oh eight four four two five six three seven.
2:16
A couple other cool features about the program. It's one of them, of
2:20
course, is the Class Quiz Question Week. Your chance to win a fantastic
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prize this week, no exception, you'll have a chance to win a twenty
2:27
five dollars gift card to read Robin on the program this morning. Listen closely
2:31
to the program. Typically, both the question and answer to the Class Quiz
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Question Week come up during the program again, so you listen closely. Chance
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for you to win again with the Class Quiz Question Week. Speaking of the
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Class Quiz Question Week, let's take a look back at last week's program.
2:49
Get the question and the answer there as well. CJ. Yeah, can
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you hear Michelle? I? Are you a lot and clear? Now?
2:54
Great to Harry Man, sorry about that awesome. Yeah. So, last
2:58
week's question was how how much is the gift tax limit in twenty twenty four
3:02
and our question was multiple choice is it fifteen thousand or eighteen thousand dollars per
3:08
person? And the correct answer was eighteen thousand dollars per person? And congrats
3:15
to our winner from last week, which was Lisa of Madison. Fantastic and
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as mentioned, we'll do another one this week. Our friends from Class Financial
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will provide a twenty five dollars gift card to red Robin, and of course
3:27
the question and answer typically come up during the program, so you're rewarded in
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a number of ways off for listening to the show, not only to get
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some fantastic information, you also have a chance to win a fantastic prize.
3:36
So today we're going to be talking about the importance of saving into your own
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retirement plan. And of course you brought along a now familiar voice to the
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show, didn't you see Jy, Yeah, we did. So today we
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are excited to once again be joined by Forrest Ross, who is the director
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of our Retirement Plans division here at Class Financial. Forrest leads our retirement plan
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division and helps small business employers either review or update their current retirement plans for
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their employees and he helps to facilitate facilitate setting up new plans for companies as
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well. So today, however, we will be discussing specifics of an employer
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retirement plan and how employees can maximize these plans as they save towards their own
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retirement. So Forrest, thanks for joining us, and can you kindly detail
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out the fundamentals of what's happening in these employer sponsored retirement plans. Yeah,
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absolutely, and thank you again for having me on the call this morning the
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show. I really appreciate it. So an employer sponsored retirement plan is really
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one of the most powerful retirement savings vehicles that we as Americans have available to
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us today. And typically when we think about these kind of retirement plans,
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four oh one K is what typically comes to mind, but they can also
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take the form of a four H three B, a four to oh one
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A, a four to fifty seven plan, a profit sharing plan. So
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there's different flavors of these employer sponsored retirement plans, but all of them allow
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you to save money into the plan through payroll deduct contributions that come right out
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of your paycheck every pay period. And some other key features are that as
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soon as you're eligible, and eligibility can vary from playing to play, and
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it can be immediate or three months or or even longer. So it's important
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that you check what the eligibility is for your employer sponsored retirement plan through your
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employer. But once you're eligible, you can start participating at any time,
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and you also get to decide how much you contribute, and you can do
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that again on a percentage basis. Sometimes you can do it on a dollar
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basis every pay period, but it comes out of your paycheck every pay period,
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and you can usually change those contributions at any time as you needed to
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either increase or decrease those contributions at any time. And these plans also allow
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for you to save your money on a pre tax basis, so there's some
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built in tax savings immediately when you put money into these retirement plans, and
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a lot of plans these days will even allow you the option of doing after
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tax ROTH contributions, so there is an option there in terms do you want
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your contributions to be pre tax or do you want them to be after tax
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ROTH. But either way, your contributions will grow tax deferred every over time,
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so when the money goes in, it grows tax deferred, which means
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that you don't pay any taxes on any of the growth or earnings of your
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retirement account until you take them out many many years down the road. Really
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great information this morning talking with Forrest Ross and cjke Loss. They are our
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retirement planning professionals from Class Financial. The website cossfinancial dot com. That's k
6:56
l Aasfinancial dot com. Fantastic webs site and resource. To learn more about
7:01
Coss Financial there telephone number six oh eight four four two five six three seven.
7:06
No charge for that initial get to know you appointment at Loss Financial.
7:10
It will be complementary to you again their number six oh eight four four two
7:15
five six three seven. And if you have questions, our retirement planning professionals
7:18
from COSS Financial are here to answer them for you. All I gotta do
7:21
is pick up phone gifts. Call this morning six oh eight three two one
7:25
thirteen ten. That's three two one thirteen ten to get on the air with
7:29
CJ and Forest and Forest, can you talk a little bit about the differences
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between employer contributions into my plan and then the kind of a little bit about
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matching formulas. Absolutely so within these employer sponsor retirement plans, again typically we
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think about four to one case. A lot of times employers will make a
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contribution into the plan for you is one of the benefits that you have from
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your employer. And these employer contributions can take the form of being an automatic
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profit sharing contribution or some type of a matching formula. So if the employer
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makes those matching contributions, they'll do that as soon as you're eligible again,
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whatever that eligibility is for your plan, they'll start making those contributions as soon
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as you're eligible if it's an automatic contribution. So if it's an automatic contribution,
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there's nothing you really have to do. Those contributions are going as soon
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as you're eligible. Like I said, but it's more common probably these days
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to see an employer offer some type of a matching formula. So what that
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means is that me, as the employee participant in the plan, would have
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to put some of my own money into the plan each pay period, and
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then based on the matching formula, the employer would match it. So,
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for example, a kind of common employer matching formula that we see these days
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is an employer might match one hundred percent of the first three percent that an
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employee puts into the plan. So that means that if I, the employee,
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put in three percent of my paycheck every pay period, my employer is
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going to match that dollar for dollar with another three percent every pay period.
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So that really is again a wonderful benefit to you as the employee to have
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that matching formula, but you have to really take action in order to put
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your own money into the plan to get it. But that employer match really
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we viewed almost like free money. You know, really take advantage of that
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to the maximum if you can. So we really strongly recommend that you find
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out what type of employer contribution, if at all, you have going into
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the plan, find out if there is any type of investing schedule, and
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really take advantage that benefit your employer has provided to you. Hope. Do
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we have to add to that? Yeah, to add to that forest I
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think we've often seen if you can maybe speak to this briefly, you know,
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the difference between like a safe harbor versus a profit sharing and what the
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vesting schedule is attached to. Can you before we move on to the next
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topic, can you speak to kind of what vesting will often apply to and
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what it sometimes doesn't. Yeah, that's a great question. So a lot
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of plans these days will have what's called a safe harbor matching formula, so
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that removes the requirements of doing a lot of testing or some other things that
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are required within a retirement plan, and the safe harror harbor option kind of
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gets them out of those requirements, and if it's a safe harbor matching formula,
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then those employer contributions are going to be one hundred percent vested immediately.
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That means that those contributions are yours as soon as they go into the plan,
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So again, kind of like free money. Sometimes an employer contribution,
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especially a profit sharing type contribution, which an employer may only make on an
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annual basis. You know, if they have a really good year, they
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may make a profit sharing contribution into the plan. Those will typically have a
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vesting schedule attached to them, and there's a lot of different vest schedules out
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there, but over time, you earn those employer matching contributions by staying with
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your employer. Yep. Yeah, So I encourage everybody who's listening make sure
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you're aware of the different types of employer contributions that go into the plan and
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whether they are safe harbor or profit sharing because those safe harbors for forshas said
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that vesting schedule may not apply to those dollars, and that's often a large
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chunk of what the employer is putting in for you anyway, So be aware
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of what is in your plan that is vested, meaning already yours versus what
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is unvested, because if you leave before the vesting is completed, then then
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those dollars will stay with the plan. But forrest, as an employee,
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how soon should I begin contributing to my employer retirement plan? Or should I
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wait till I can contribute larger amounts? Yeah, so this is a really
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great question, and the answer is start is early as you can. I
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have I have three boys, and as soon as they got their first job
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where they had their four O one K available to them, I said,
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you're starting putting money into the plan right away, because the sooner you can
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get money into the plan, the more years you have for that compounding growth.
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And if you start putting money in your twenties or even thirties, you
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know, that's over thirty years of compounding growth that you can have in your
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account. And that compounding growth is one of the most powerful financial tools that
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you can have working on your side. And you know, start out small
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if you have to. You know, if you can't start out putting in
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three or five percent right away, that doesn't matter. Start out doing one
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or two percent if you have to, But then try and build on that
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as time goes on. You know, one thing that I think we see
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people get in the mindset of is, you know, they think I can't
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afford to save for my retirement. But you know, we would argue that,
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I think you really can't afford not to say for your retirement, because
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if you're not setting aside money for your futures, you know who's really going
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to do it for you. And the bottom line is, if you don't
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put money in early, you're probably going to have to make up for it
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by putting more in later on if you still want the same size nest egg
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available to you at retirement. So, like I said, even if you
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have to start small, or when you do start putting money into the plan,
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try to increase what you're putting into the plan on a regular basis,
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so you know, as you're getting those pay raises, maybe increase what you're
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putting into the plan one percent every year. And if you just do it
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in small steps or small increments like that, you really don't feel it quite
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as much in your take home pay. But believe me, that extra one
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percent over time again makes a huge effect on the size of a nest egg.
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That you're going to have to fund your future retirement. And the ultimate
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goal here is to get to ideally setting aside ten percent of your own pay
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every pay period. So again, start out small if you have to take
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advantage that full employer match, but then increase it to try to get to
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that ten percent level. Because if you're putting in ten percent of your own
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money into your retirement account these long term retirement account vehicles on a regular basis,
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you're going to accumulate a nice nest egg over time. One other thing
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that I should mention though, is that there's a limit to how much you
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can put into these retirement accounts. So for twenty twenty four, the maximum
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amount that you can put into your four to oh one K or retirement account
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is twenty three thousand dollars. But if your age fifty or over, you're
14:41
actually eligible for an additional catchup contribution of another seven five hundred dollars, So
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that if your age fifty or over in twenty twenty four, you actually could
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put in a maximum of thirty thousand, five hundred dollars into your retirement account.
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That's pretty sweet. Talking this More Morning with Forrest Ross and CJ.
15:01
Closs of Class Financial. Fantastic information this morning from Forest and CJ. If
15:05
you've got questions, we'd love to have you join us on the show.
15:09
Our telephone number six oh eight three two one thirteen ten. That's six oh
15:13
eight three two one thirteen ten. We'll get you right on the air.
15:16
Dorfgy can learn more about Coss Financial on their website class financial dot com.
15:20
That's k l aasfinancial dot com. Great website to learn more about Class Financial,
15:24
learn more about the folks at Coss Financial, including CJ and Forest.
15:28
Check out Tessei well Malia's up to as well, all online. You can
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also sign up for the weekly Market Pulse newsletter while you're there. It's a
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fantastic weekly email comes in your inbox, gives you a little snapshot of some
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information that's going on in the markets. And I'll link to the most recent
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podcast. Again that available to you for free at class financial dot com.
15:46
Speaking of things that are complimentary, that first visit, that first appointment at
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Coss Financial not going to cost you a thing. You can schedule that just
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by picking up the phone telephone number six oh eight four four two five six
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three seven. And again, that first initial appointment at Coss Financial. It
16:00
will be complimentary to you. Their telephone number six oh eight four four two
16:03
five six three seven and the number to get on the air this morning six
16:07
oh eight three two one thirteen ten. That's three two one thirteen ten.
16:11
We'll send your conversation with CJ and Forrest and take your call next as Money
16:15
in Motion with Class Financial continues right here on thirteen ten WIBA. This is
16:22
Money in Motion with Class Financial, a fun and informative show designed to help
16:27
you get answers to all your retirement questions in one place. We're talking this
16:32
morning with our retirement planning professionals, CJ. Closs and Forrest Ross. Of
16:36
course they come to us from Class Financial to website Class financial dot com.
16:40
That's spelled Klaasfinancial dot com. Great website for Class Financial. Don't forget.
16:45
If you scroll down towards the bottom, you see that little envelope it says
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stay current. That's your opportunity to sign up for the weekly Market Pulse newsletter.
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Fantastic weekly email that you'll receive in your inbox with some great information about
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the markets, as well as a link to the most recent podcast. Speaking
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of the podcast, Miss any part today's program, either you want to listen
17:02
back or share it. To listen back to previous shows. You can always
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head on over to Clossfinancial dot com as well. They've got a link right
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there to their podcast. You can describe on the subscribe on the website class
17:11
financial dot com as well. They're telephe number six soh eight four four two
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five six three seven. No charge for the initial gets to know you appointment
17:18
at Coss Financial. It will be complimentary to you again. Their number six
17:22
oh eight four four two five six three seven and the number here at station
17:26
six oh eight three two one thirteen ten. That's three two one thirteen ten
17:30
gets you on the air with Forrest and CJ and CJ. I believe money
17:33
we put away into our retirement plans through our employer, they do you offer
17:37
us some deferred growth? Can you tell us a little bit about that?
17:40
Yeah, So outside of what Forrest was just mentioning there in terms of you
17:42
know, retirement contribution limits and employer matching contributions and profit sharing contributions, which
17:51
are obvious benefits to you if you can get a master from your employer,
17:52
as Forrest mentioned, it's it's free money. You might as well put money
17:56
in there and then and then get their match side of this. Every once
18:00
in a while you'll hear these untrue statements creep into creep into the world of
18:07
retirement savings, which is, well, if my employer doesn't match or doesn't
18:12
match enough, then I might as well just do this in a savings account.
18:18
And it's like whoa, whoa, whoa, whoa whoa. Even if
18:22
your employer is not matching contributions. Number one, it's your responsibility to save
18:27
for retirement, not theirs. And number two, these accounts do offer significant
18:33
tax benefits. So if I put one thousand dollars in, or let's say,
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let's take force example of I earn one hundred thousand dollars and I need
18:41
to put in ten percent of that, So that's ten thousand dollars going into
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my retirement plan. Well, that is growing on a tax deferred basis.
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So the idea is I do not pay the tax upfront, assuming I put
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it into pretax. The growth then has no tax on it over the next
18:56
thirty forty fifty years before I pull the money out. So it's we call
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this compound growth. The money you would have lost to taxes, stays in
19:03
there and continues to compound and grow. And yes, certainly at the end
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of all of that, if it's a pre tax retirement account, when I
19:11
pull the money out in retirement, I will owe income taxes. But it
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doesn't matter. If you run math models on this, the compound effect causes
19:22
you to have more money at the end, even with tax than I would
19:26
have had on the front end if I had put it into a taxable account
19:30
and invested it the exact same way. Now, there are things we do
19:33
not know. Humbly speaking, I don't know what will happen to tax brackets
19:38
in the future. And this is where people get very kind of off in
19:41
right field or left field, saying, well, obviously tax brackets are going
19:45
to go way up. Here's what I'd say to you. Please, do
19:48
not take the advice of a salesperson when it comes to this kind of decision
19:52
making. Take the advice of somebody who is a fiduciary who will kind of
19:56
show you the history of this run models for you to see the pros and
20:00
cons. Long story short, most people should be trying to take advantage of
20:06
a retirement plan like this. Furthermore, if you are seriously worried about the
20:11
tax rates going up in the future. There are WROTH contribution option, so
20:17
ROTH is an after tax contribution. So again, if I earn one hundred
20:21
thousand put ten percent in into the WROTH four to one K, I do
20:25
not get a tax break. So I put in ten thousand dollars of after
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tax money. But then all of that tax or all of that growth is
20:33
tax free as long as I wait to pull it out until I get into
20:37
retirement after fifty nine and a half. Well, that is a huge deal.
20:41
So again, just the huge encouragement to all of our listeners is these
20:44
accounts offer tax benefits that if you do not put it into a retirement plan,
20:48
you will not get those tax benefits. And furthermore, just remember WROTH
20:52
four to oh one K plans do not have the income restrictions that roth irays
20:59
do. Often for us and I will be talking to somebody and saying,
21:02
hey, you know, based on what we hear you saying and your income,
21:04
maybe you should consider the ROTH And they go, no, if our
21:07
household earns too much money for that, And we go no, no,
21:10
no, no, no, no, you're thinking roth ira. Roth iras
21:12
have income limitations Roth four oh one case, assuming your employer offers that as
21:18
an option, do not so. I guess that the point of this little
21:22
section is speak to your financial advisors, speak to your accountant about what would
21:26
be the best place for you to save, and then take advantage of your
21:30
employer sponsor plan. A lot of great tools out there, when used properly
21:33
and of course, used to your advantage. That's the great thing about starting
21:36
that conversation. Folks at cost Financial. All I gotta do is pick up
21:38
phone, give them a call six oh eight four four two five six three
21:42
seven. No charge for the financial get to know you appointment at Costs Financially.
21:45
It will indeed be complimentary to you. Their telephone number six oh eight
21:49
four four two five six three seven, the website costs Financial dot com.
21:53
That's k l Aasfinancial dot com. Great website, and again the telephone number
21:57
six oh eight four four two five six three seven. We'll continue our conversation
22:02
with CJ and Forrest as well as you next as Money in Motion with Coss
22:06
Financial continues right here on thirteen ten WIBI. This is Money in Motion with
22:15
Coss Financial, a fun and informative show designed to help you get answers to
22:19
all your retirement questions in one place, talking with our retirement planning professionals from
22:25
COSS Financial, Forest Ross and CJ cost. Don't forget about the website Coss
22:30
Financial dot com. That's k l Aasfinancial dot com. Great website and resource
22:33
to learn more about Costs Financial. Their telephone number six oh eight four four
22:37
two five six three seven. No charge for the initial gets know your appointment
22:41
at Costs Financial. It will be complimentary to you again their number six oh
22:45
eight four four two five six three seven. Talk about the importance of saving
22:49
in your own retirement plan and it is an opportunity for you, but it's
22:52
also something you need to do and you need to be aware of how to
22:56
do it. And there's some great opportunities out there. If you miss think
23:00
part of the earlier part of the program, you definitely want to listen back
23:03
and do that right at Colssfinancial dot com. That's Coss k l aa s
23:07
Financial dot com. So, Forest, if I have a retirement plan at
23:08
work, how do I go about then kind of picking out which investments I
23:11
should be saving into. Yeah, so this is a great question. And
23:15
when we're out doing education with our clients. A lot of times we'll go
23:21
out and do education to the employees of the of the company. And one
23:26
of the most common questions we get is, you know, where should I
23:29
be investing my money within the retirement plan. And ultimately you've got a couple
23:33
of different choices because within a retirement plan you typically have about twenty to twenty
23:38
five different investment options to pick from. Now, some of those investment options
23:42
are going to be more aggressive. They're going to be equity mutual funds typically
23:48
that invest in stocks, and they may invest in stocks of large cap companies,
23:52
small cap companies, value growth strategies, international, But all of those
23:57
type of mutual funds are and investment options are going to be more aggressive.
24:02
Right, They're going to go up and down with the market, So that's
24:04
one option. But then there are also other investment options within the plan.
24:10
They're going to be more conservative, like bonds or money market Those may go
24:15
up and down with the market a little bit, but typically they're going to
24:18
be more conservative over time. So me, as a participant of the plan,
24:22
I could go in do my own research look at how much risk each
24:27
one of these different funds are taking and what their performance is over time,
24:32
and I could create my own customized mix by picking and choosing between those different
24:37
investment options. But a lot of people don't feel comfortable kind of picking and
24:41
choosing on their own. So usually within plans today, there will also be
24:48
models that you can pick from, and a lot of times these models are
24:52
what they would call target date models that have a date attached to them,
24:56
like twenty thirty, twenty forty, twenty fifty to twenty And the idea is
25:02
is that if you're picking one of the models, you want to pick the
25:04
model that has the date that's closest to one you might be turning sixty five
25:08
or retiring. You put your money into that model, and then the manager
25:14
of the model will allocate it between aggressive and conservative investments with that targeted retirement
25:19
year in mind. So if you're further away from retirement, like the twenty
25:26
sixty model, that one is going to be more aggressive, it's going to
25:29
have more in equities and stock type investments, whereas the model that's closer to
25:33
retirement, the twenty thirty model, that one's going to be a little bit
25:37
more conservative. Because that's the general rule, right The closer you get to
25:41
retirement, the more conservative you want to be. So the models are really
25:45
good for somebody who doesn't really feel like they have the expertise to pick and
25:49
choose on their own. They want somebody else to do it for them,
25:52
and then that model can be a good way to do that. The other
25:56
nice thing about these target date models is the manager of the model will typically
26:02
go in once or twice a year and make subtle adjustments, you know,
26:04
based on economic conditions or performance. But also what they do is they automatically
26:11
make these models. They follow what's called a glidepath, so they get more
26:15
conservative every year over time, and it really does put things on automatic pilot
26:22
for people that don't feel comfortable picking and choosing on their own. Fantastic stuff
26:27
this morning from CJ. Closs and Forest Ross. Our retirement finding professionals from
26:30
class financial website Class financial dot com. That's k l aa S financial dot
26:36
com. They're telephone number six so eight four four two five six three seven.
26:40
No charge for an initial gets to know your appointment tech loss Financial.
26:42
It will be complementary for you. Their telephone number again six oh eight four
26:45
four two five six three seven kind of wrapping things up, then forrest,
26:49
what is kind of the best way to maximize your four oh one K contributions.
26:53
Yeah, so to kind of tie a boe around all of this that
26:56
we've been talking about this morning, there's really four things that I just kind
26:59
of want to circle back and talk about. And the first shoe is,
27:02
like we said, start contributing as early as you can, you know,
27:06
as soon as you're eligible. You know, try to put some of your
27:08
own money into the plan, even if you have to start small. And
27:14
then you know, take advantage of that full employer match. If your employer
27:17
is using some kind of a matching formula like we talked about, find out
27:21
what it is and try to take advantage of that full employer match, and
27:25
then try to build on what you're saving. So if you start out at
27:30
three or five percent or lower than that, if that's all you're able to
27:33
do, increase that as time goes on. Try to put it. Increase
27:37
at one percent every year when you get your pay raises. It really will
27:41
make a difference for you and your future. And then finally, I just
27:45
want to mention that you know, we change jobs as we go through our
27:52
working careers, So it's really important that you keep track of those four to
27:56
oh one keys from your previous employers. And if you have a large enough
28:00
account balants. A lot of times theale allow you to keep your money in
28:03
your previous employer's retirement plan, but you also have the option of either rolling
28:08
over to an IRA or rolling it over to your new employer's plan. And
28:12
there may be reasons why you want to look at each one of those different
28:15
options, but the important point is, you know, don't forget about it,
28:19
don't lose track of those accounts from previous employers. And if you need
28:25
to seek out a financial advisor to find out you know, what's the best
28:27
thing for me to do with those accounts from previous employers. Great tips,
28:30
great advice this morning, as always from our retirement finding professionals from COSS Financial.
28:36
You can learn more online the website class financial dot com. That's k
28:41
l aa S Financial dot com. Fantastic website Class financial dot com. They're
28:45
telephone number six oh eight four four two five six three seven no charge for
28:51
that initial gets new your appointment dek co loss Financial. It will be complementary
28:55
to you again. Their numbers six soh eight four four two five six three
28:59
seven. Go on a whole down to that telephone number as well, because
29:00
it's time now for the Coss Quiz question of the week. It works like
29:03
this. In just a moment, I'll ask you the Class Quiz question leak.
29:07
You will then have ten thirty minutes excuse me from the end of today's
29:10
program to call the Class Financial office right here in Madison at six oh eight
29:14
four four to two, five, six three seven. If you are the
29:17
first call correct answer, you win this week's prize, which is a twenty
29:19
five dollars gift card to Red Robin. This week's Coss Quiz question Leak is
29:25
this, how much can you save into your retirement plan at work into a
29:30
four to oh one K if you have a few Let me start all over.
29:33
How much can you save into your retirement plan at work into a four
29:37
oh one K if you are over fifty and twenty twenty four? Is it
29:41
thirty thousand dollars or thirty thousand, five hundred dollars. Telephone number six oh
29:47
eight four four two five six three seven. No charge for that initiates to
29:49
know you appointment at COSS Financial. It will be complimentary to you again their
29:53
number six oh eight four four two, five, six three seven. How
29:56
much can you save into your retirement plan at work into a four oh one
30:00
k if you are over fifty and twenty twenty four Again it's molt I guess
30:03
thirty thousand or thirty thousand, five hundred. Good luck with that, CJ.
30:07
Forrest, It's always great chatting with both of you, guys. Enjoy
30:11
this great day, Thank you, and we'll get an update on news next
30:14
right here on thirteen ten WIBA. This is Money in Motion with Coss Financial
30:23
Asset Advisors, LLC, a registered investment advisor registered with the SEC. The
30:30
content of this show is for informational purposes only and should not be considered individual
30:36
investment advice. Class Financial does not offer tax or legal advice. Any opinion
30:41
offered during the course of this show is the opinion of that particular investment advisor
30:45
representative and not necessarily the opinion of Coss Financial