Finacial company to manage old work 403B.
Hi, I was wondering if it would be wise to transfer my old work 403B that’s about 30000.00 to a financial company that would manage it for one percent fee per year. it is with the company Equitable right now. I’ve been keeping an eye on it over the years and making mutual fund trades here and there. I know I’m projected to have a shortage in retirement since I don’t have anything other than my work retirement plan and 403B. Thanks
Terry Says
I don’t know why you’d want to give away 1% a year!
First, do the rollover yourself. REad this for instructions: https://www.terrysavage.com/rollover-now/
I don’t know how far you are from retirement, but to be safe you could put half in an equity/income fund — something more conservative, and a portion in a money market fund to let you sleep at night. If you’re under 55, you probably want about 20% in the S&P 500 stock index fund, and maybe 40% in the conservative stock income fund.
The real secret to your retirement is to keep working, keep saving, delay taking SS til age 70 –and keep enjoying your life.
