what should I do with my 403b money when I retire
I am 74 yr old and still working full-time at a University. I have 125K in a 403B TIAA account. When I retire should I stay with TIAA and get the monthly benefit for life of 900ish a month? Should I pull the money and invest else where? I cannot afford to lose money by re-investing.
Terry Says
That’s a tough question, since I know nothing about your entire financial situation. And while a secure $900/month seems attractive, if inflation returns it could be diminished significantly in buying power over the rest of your life.
Do you have other options when you retire, besides taking the annuity they provide? Can you keep the money there in conservative investments?
You can’t just “pull the money out” because you’d pay a fortune in taxes! You could do a rollover to Fidelity or Vanguard, and just use their most conservative investment options. Read this: Rollover Now – Terry Savage
Maybe it’s time for a consultation with a fiduciary (fee-only) financial advisor. REad this: Pam Krueger Wealthramp – Terry Savage
