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What to do with $25,000 in a 403(b)
Posted on 12/26/13 at 3:01 pm
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
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
6
Posted on 12/26/13 at 3:06 pm to white perch
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
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 on 12/26/13 at 3:08 pm to Croacka
Bring it to a brokerage firm. More investment options and a professional looking out for you
Posted on 12/26/13 at 3:15 pm to white perch
quote:
4. withdraw it and spend it on hookers and blow
Posted on 12/26/13 at 4:38 pm to I Love Bama
Bet on Auburn in natty. $25 = $80 ez game.
Posted on 12/26/13 at 9:01 pm to white perch
quote:
I contribute 9% and my employer kicks in another 15.75%.
Hot damn
Posted on 12/26/13 at 9:46 pm to white perch
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 on 12/26/13 at 9:59 pm to white perch
quote:
4. withdraw it and spend it on hookers and blow
Wait, why wouldn't this be the obvious answer?
Posted on 12/27/13 at 9:48 am to white perch
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 on 12/27/13 at 12:22 pm to wiltznucs
quote:
quote:
I contribute 9% and my employer kicks in another 15.75%
You could retire at 50.
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