If you think about it, a company's 401(k) match acts just like crossfire injection. What's that, you ask? The best way to answer that question is to show you, not tell you.
Remember that Z-28 I alluded to a couple of months back? It's one of those rare Camaros that has this thing called crossfire injection. When I bought one in 1983, I had no idea what the term meant. I'm not sure I know what it means even today. All I know is that it sounds cool. And it works even cooler.
Here's how I would use it. Let's say I was comfortably cruising down some country road counting the passing cows, when I come up on a farm tractor moving at snail-like speed. If you're like me, you know how frustrating this can be. I naturally nudge towards the center line where I discover I've only got a short passing opportunity. If I don't pass this oozing molasses in front of me right away, I'll be stuck behind it for several more agonizingly slow miles.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
