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Welcome to “Skills To Pay The Bills” and segment. Please welcome our co-host, Mr Freeman Owen, Jr, President and CEO of Financial Sources, Inc.

Tia: When we were talking about employer sponsored retirement account, men can contribute 6% and their employers will contribute 6% also. When women contribute to their retirement accounts, they can only contribute 4% because they don’t make as much money.

Freeman: Well, Tia, when you said “match”… many employers are not matching anymore. No, they are not contributing to building a retirement account. I’ve seen the matching process within various companies go completely away completely. In some instances, the employers terminate any contribution to the employer sponsored retirement accounts. They just don’t put money in there. When you look at today, since many employers don’t offer a defined pension plan, what is happening is that many ladies who have setup their 401K and 403b need support and help [with those accounts]. So, when you mention matching, that is pretty much archaic today.

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