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What to do with $25,000 in a 403(b)

Posted on 12/26/13 at 3:01 pm
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7122 posts
Posted on 12/26/13 at 3:01 pm
I've got about $25,000 in my previous job's 403(b) plan through Lincoln Financial Group. It got about 12% return this year. I'm now a Mississippi state employee and I'm forced to participate in this state's PERS system. It's a 401(a). As far as I can tell, I cannot roll over my 403(b) into this. The PERS system is not bad. I contribute 9% and my employer kicks in another 15.75%. My concern is the long term viability of this plan. I'm not sure it will be here in 30 years when I retire. So I'm left with $25,000 I have to do something with. Which option do you think is better?

1. keep it there and just let it sit and grow

2. roll it into some other 401(k), trad IRA, or roth IRA

3. withdraw it and invest it in mutual funds

4. withdraw it and spend it on hookers and blow

5. something else

Any advice is appreciated. TIA
Posted by Croacka
Denham Springs
Member since Dec 2008
61441 posts
Posted on 12/26/13 at 3:06 pm to
Everytime ive changed employers, I've rolled over my 401k's into my fidelity traditional IRA

The biggest advantage is the investment options aren't as limited as in a 401k plan

I would definitely not withdraw any of it if at all possible
Posted by roguetiger15
Member since Jan 2013
16145 posts
Posted on 12/26/13 at 3:08 pm to
Bring it to a brokerage firm. More investment options and a professional looking out for you
Posted by I Love Bama
Alabama
Member since Nov 2007
37693 posts
Posted on 12/26/13 at 3:15 pm to
quote:

4. withdraw it and spend it on hookers and blow
Posted by rocketc
Member since Oct 2013
270 posts
Posted on 12/26/13 at 4:38 pm to
Bet on Auburn in natty. $25 = $80 ez game.
Posted by Chris Farley
Regulating
Member since Sep 2009
4180 posts
Posted on 12/26/13 at 9:01 pm to
quote:

I contribute 9% and my employer kicks in another 15.75%.


Hot damn
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
118891 posts
Posted on 12/26/13 at 9:46 pm to
quote:

I contribute 9% and my employer kicks in another 15.75%.


Good for you, but it stinks for taxpayers. These kinds of benefits are ridiculous. No (or a very small amount of) private employee gets anything near this.
Posted by TyOconner
NOLA
Member since Nov 2009
11080 posts
Posted on 12/26/13 at 9:59 pm to
quote:

4. withdraw it and spend it on hookers and blow


Wait, why wouldn't this be the obvious answer?
Posted by wiltznucs
Apollo Beach, FL
Member since Sep 2005
8961 posts
Posted on 12/27/13 at 9:48 am to
quote:

I contribute 9% and my employer kicks in another 15.75%


That's pretty amazing. My employer will match 4% and in this area thats considered very good...
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75130 posts
Posted on 12/27/13 at 12:22 pm to
quote:

quote:
I contribute 9% and my employer kicks in another 15.75%



You could retire at 50.
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