403b transfer
My wife works for university in Chicago. Has money in a Fidelity 403b account. She’s 55yrs retiring in 7yrs. Should she be tranfering her money into roth ira & pay taxes now? We want to put it in a roth. Can you tranfer all the money at once? Or is there a limit on amout each yr? Can she start doing it now as she’s working or has to wait till she retires. Listen to you on WGN radio & read your articles. You help people like Dave Ramsey does. Both of you are a God sent to people.
Terry Says
Thanks for the compliment. I have some news that will surprise you. YOU CAN’T TRANSFER MONEY OUT OF A 403(B) OR 401(K) WHILE YOU’RE STILL WORKING FOR THAT EMPLOYER!
So this is a decision you can’t make until she retires or leaves her job.
