Imagine doing everything right financially — earning a high income, saving aggressively, and maxing out your retirement account months ahead of schedule — only to discover you may have been leaving thousands of dollars in free employer contributions behind. It sounds impossible, but one small detail buried in your retirement plan could be quietly costing you money every single year.  

In this week's episode of Financial Fortitude, Michael and Brady uncover a costly retirement savings mistake that can quietly drain thousands of dollars from even the most financially disciplined professionals.  Through real-world examples involving physicians, attorneys, and other high-income earners, they reveal how employer matching rules can turn an aggressive savings strategy into an expensive oversight. 

This episode offers a practical framework for identifying hidden financial inefficiencies, protecting valuable employer benefits, and making every retirement dollar work harder.

Key Takeaways:
   • Maxing out your 401(k) early can cause you to miss employer matching contributions if your plan requires contributions throughout the year.
   • Learn what a true-up provision is, and how it can help make up for missed employer matches at the end of the year; but remembering that not every retirement plan offers one.
   • High-income professionals who receive bonuses or contribute a large percentage of their salary are particularly vulnerable to this oversight.
   • Missing $7,500 in annual employer contributions could create a six-figure difference in projected retirement wealth over ten years when investment growth is considered.
   • Reviewing plan documents, checking pay stubs, and consulting HR or a financial advisor can uncover missed benefits and improve retirement planning.

Key Topics Discussed:
Financial Fortitude, Michael Acosta, Brady Hemmerle, Genesis Wealth Planning, 401(k) Contributions, 401(k) Employer Matching, Employer Retirement Benefits, True-Up Provision, Retirement Planning, High-Income Professionals, Physician Financial Planning, Attorney Financial Planning, Dentist Financial Planning, Executive Compensation, Retirement Savings Strategies, Maximizing Employer Match, 401(k) Contribution Limits, 403(b) Plans, 457 Plans, Retirement Account Optimization, Wealth Building Strategies, Compound Growth, Retirement Investment Growth, Financial Independence, Cash Flow Management, Tax-Advantaged Retirement Accounts, Bonus Compensation Planning, Retirement Plan Administration, Employee Benefits Optimization, Financial Planning for Physicians, Financial Planning for Attorneys, Long-Term Wealth Accumulation, Retirement Contribution Strategies, Financial Efficiency, Investment Planning, Employer-Sponsored Retirement Plans

Mentions: 

Website: https://www.genesiswealthplanning.com/
Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/
Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/
Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.  Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own.  Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. 

Guest speakers and the firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning, LLC and opinions stated are their own. Guardian subsidiaries, agents and employees do not provide tax, legal or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

All investments in investment strategies contain risk and may lose value. All scenarios. Names mentioned here are purely fictional and have been created solely for educational purposes. Any resemblance to existing situations, person or fictional characters is coincidental. The information presented should not be used as the basis for any specific investment advice.

Links to external sites are provided for your convenience in locating related information and services. Guardian, its subsidiaries, agents and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services and make no representation as to the completeness, suitability, or quality thereof.

Michael Acosta and Brady Hemmerle are Registered Representatives and Financial Advisors of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. Michael Acosta's CA Insurance License # 0M50974. Brady Hemmerle’s CA Insurance License # 4353077.  7237198.47 Exp 11/28