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concrete_tiger
Member since May 2020
3952 posts

Question for experts - to rollover or not rollover?

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


Niner
Auburn Fan
Member since Apr 2019
1655 posts

quote:

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.

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.

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.


TDTOM
Member since Jan 2021
7157 posts

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.


concrete_tiger
Member since May 2020
3952 posts

Thanks, folks. Helps to have other people say it.


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notsince98
Missouri Fan
KC, MO
Member since Oct 2012
15969 posts

just for better investment options the IRA should be more attractive.


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Weekend Warrior79
LSU Fan
Member since Aug 2014
11811 posts

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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