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Trying to choose the best retirement account for my wife.
Posted on 11/27/16 at 8:32 am
Posted on 11/27/16 at 8:32 am
My wife is a teacher and has been contributing to her 403b account, but I recently looked at her plans to see that the fees are pretty high and there aren't much choices for different funds. It seems like our best option would be to stop contributing to this plan and move her investments into a roth IRA?
I'm not too familiar with 403b's so I want to make sure I'm not missing anything before we make the switch. From what I understand, the only benefit to the 403b is the tax deferment?
I'm not too familiar with 403b's so I want to make sure I'm not missing anything before we make the switch. From what I understand, the only benefit to the 403b is the tax deferment?
2
Posted on 11/27/16 at 10:38 am to Delacroix
Is she getting any kind of match?
If not, the only benefit of a 403b over a ROTH (assuming she isn't running up against the income phase out) is that a 403b has a significantly higher contribution limit.
If not, the only benefit of a 403b over a ROTH (assuming she isn't running up against the income phase out) is that a 403b has a significantly higher contribution limit.
Posted on 11/27/16 at 3:32 pm to Delacroix
403b you can go either pre or post tax and the limit is around 18K. The Roth limit depending on age, is capped at 5500
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