Quote:
Originally Posted by retiredguy123
If you are retired, I would suggest that you transfer all of the money in your 403B account into a Vanguard or Fidelity traditional IRA. The fees will be lower, you will have more choices for investments, and they will assist you with many aspects of the investments. I prefer Vanguard, but Fidelity has a office at Lake Sumter where you can see a live person. 403B accounts are notorious for having excessive management fees, and some of them have even been sued because of the high fees. Vanguard or Fidelity will handle all of the paperwork to do a direct transfer.
|
My 403 B has no fees and pays a fixed rate of 3%. I am moving some at a time into a back door Roth by paying the taxes and rolling it into a roth. I am putting it into a fixed rate MYGA which is like a CD but from an insurance company that pays 4.05%. I do have stocks and the dividends were paying me $21,000 a year in addition to my pension but with the stock downturn they are paying me about $16,000. I would not take a 403 B and move it into a traditional IRA. Because the growth would still be taxed. With the Roth the interest is not taxed.