403(b) — cash it in?
I have a total of $54,000 left in my 403(b) retirement accounts: (TIAA-CREF and Fidelity) I have lost $7,000 since last November. My question is, should I pull it now before it’s all gone? I’m 61, unemployed, living with adult son and no longer contributing to it. Thank you for any advice.
Terry Says
I don’t think it will be “all gone” — but it could lose more. Look, it’s almost impossible to be unemployed these days. Even if you take a job that is not in your skillset — Just go to any restaurant and become a waitstaff. Most service jobs are looking for people. And it isn’t all physical labor.
If you think you need this money now, wait until you’re 75 years old and can’t work. By then the losses will have been recovered and more gains will be made. Don’t make a bad situation worse by watching the value of your account. Leave it alone and get a job!
