IRA rollover
I have a 403b traditional IRA (non Roth IRA) sitting in the Government Thrift account(about $350,000). I have not been able to contribute to it since I retired 2 years ago. It has done ok but I want to grow it more. If I roll it over to a traditional IRA (Schwab,Vanguard, or Fidelity ) , can I start contributing (dollar cost averaging) to it and if so will it be pretax contributions? It is all pre tax dollars as it stands now. If not, what are some suggestions to do with this money? I don’t plan on withdrawing from it at least for another 8-10 years God willing when u will be 65-67 years old. Or Should I just start a totally separate Roth IRA and leave the money in Thrift account? I would appreciate your thoughts/suggestions.
Terry Says
Well, you have, as I recall, some pretty good investment choices in the government thrift plan. So you might want to stick with those choices for your existing plan.
I assume you are still working, so can now contribute to another, separate IRA at one of the companies mentioned above.
But if you are fully retired, and have no earned income, then you are not eligible to contribute at all! You an still open a brokerage account and invest after tax dollars with no special tax benefit. But at this stage, you might want to get a bit more conservative.
