What to do with money in work retirement account that is being discontinued
My wife has a 401a that is being discontinued. We are not sure what to do with the money and I wanted other suggestions than from my advisor. The account is 37k. She does still have a 403b with work that it can be transferred to or we can do whatever we want with it.
Terry Says
Well don’t just “do” something with it– Make sure that you do a direct ROLLOVER to an IRA, so you don’t trigger taxes and so it can continue to grow tax-deferred. I’d suggest contacting Fidelity or Vanguard, and letting them work with the 40l(k) plan custodian to do the rollover. Then you’ll have to make some investment choices. If she is still working, you might choose something relatively conservative, like and equity-income fund.
