Ask Terry Questions Former Teacher & Investing

Former Teacher & Investing

By Terry Savage on January 27, 2025 | Investments

Hi Terry! My mom is an avid follower of yours and suggested I reach out for your help. I am 30 years old and a former teacher of 8 years. I currently have money in the Teacher Retirement System of Illinois (about $27,000) and I also opened a 403(b) while teaching, which has about $24,000 in it. I now have these lumps of money that are not making any interest and they’re not being invested. What would your suggestion be for investing those sums of money? Now that I work in corporate, I have a 401k as well. Any help is greatly appreciated!

Terry Says

Well, you’re wrong about the fact that these two former retirement plans are not being invested. Certainly they are — but perhaps in bad or expensive choices.
I’m not sure if TRS allows a rollover, but a 403(b) plan can certain be rolled over.
Read this: https://www.terrysavage.com/?post_type=post&s=rollover+now

Just do a direct rollover of those two accounts, and invest in the S&P 500 stock index fund. It will be volatile, but you have a long time to make it grow!

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