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Jerryd

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  1. Jerryd

    403-b

    I have about $375K in my 403-b with national annuity insurance firm. I will be withdrawing $145K from my state retirement account and want to add it to my retirement funds, in some fashion. I can withdraw [ I mean transfer] my annuity $ without penalty of any sort. In two years my wife will have "roughly" the same choice to make also. My plan is to get into Vanguard or possibly some no-load IRA plan. Has anyone traveled down this path lately? I would be glad to learn from your experiences. I will still get around $25K a year from my state retirement plan. My wife will receive about $30k with an identical plan. Suggestions are very welcome. Moderate risk and long term retirement. I am currently 56 and plan on taking on another job for the next 2-3 years. jerryd
  2. Jerryd

    403-b To Ira

    Joel - Thank you for your advice in this matter. My wife will be in a very similar position in a few years. The withdawl money from the state [ hers and mine added in both cases] together with our 403-b [ hers and mine added] funds should be in the neighborhood of $900K+ minimum and possibly more. Thanks Jerry
  3. Jerryd

    403-b To Ira

    Joel - Thank you for your time and effort. On another matter, if you do not mind. Our state teachers retirement system allow a person to retire and "take out" a lump sum of money. After taking the money out, it still allows one to have a pension, yet substantially less. In "round figures" you get about $1,000.00 let per month but you can roll over the portion taken out into an IRA. There are several different figures estimating the income you would need to off set the withdrawl, but a 9% figure is fairly well accepted. It would be around $140K that I would be taking out. Anyones thoughts are appreciated. Jerry
  4. Jerryd

    403-b To Ira

    I will be 56 and so will my wife. Jerry
  5. Jerryd

    403-b To Ira

    My question is, what advantages or disadvantages is it to rollover ones 403-b into a IRA once you have seperated from service/retire. Does it limit on how and when I can get to my retirement account. I have way over 30 years in education and am not sure as to if it is best to leave it with the 403-b company or transfer into a low fee IRA upon retirement Currently my school does not offer a low fee 403-b. Thanks in advance for you time and expetise. Jerry
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