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Question for experts - to rollover or not rollover?
Posted on 7/14/22 at 9:48 am
Posted on 7/14/22 at 9:48 am
My wife has a 403b from her last school, but hasn't taught there in many years. It's only $10k or so, but it's an extra account to remember. We have an account at another broker where I have an IRA and an individual account.
Would you roll that 403b over into an IRA at the other broker for convenience or just let it stay where it is? It's in target funds, there's nothing wrong with it other than being an outlier.
thx
Would you roll that 403b over into an IRA at the other broker for convenience or just let it stay where it is? It's in target funds, there's nothing wrong with it other than being an outlier.
thx
Posted on 7/14/22 at 1:48 pm to concrete_tiger
quote:There is value in consolidating. One log-in is nice. More importantly, you can view and understand your portfolio MUCH easier if all assets are held together on one statement or at one custodian log-in.
My wife has a 403b from her last school, but hasn't taught there in many years. It's only $10k or so, but it's an extra account to remember. We have an account at another broker where I have an IRA and an individual account.
Would you roll that 403b over into an IRA at the other broker for convenience or just let it stay where it is? It's in target funds, there's nothing wrong with it other than being an outlier.
I'm a CFP and financial advisor and it takes me a solid 30 minutes sometimes to figure out how a prospect is invested when they bring me six statements from three different custodians. Imagine how long it would take an average investor to know what kind of risk they are taking in that situation.
I say rollover and consolidate.
Posted on 7/14/22 at 1:52 pm to Niner
quote:
it takes me a solid 30 minutes sometimes to figure out how a prospect is invested when they bring me six statements from three different custodians
Not to mention the headache for the kids trying to track everything down upon death.
Posted on 7/14/22 at 2:09 pm to TDTOM
Thanks, folks. Helps to have other people say it.
Posted on 7/14/22 at 2:20 pm to concrete_tiger
just for better investment options the IRA should be more attractive.
Posted on 7/14/22 at 2:25 pm to concrete_tiger
You also typically have lower fees & better investment options when you are with your broker vs a company/school/State sponsored program.
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