First post here so bare with me....I just finished WCI today and looking to keep the momentum rolling on more of the suggested books I've seen in the book/forum
I'm a very frugal first year resident that has been lucky enough to make some good real estate investments (with the help of good luck) in the past between undergrad and going back to professional school. With that said, I'm now looking to step up my game to become an intelligent investor and relying less on luck. We have accumulated about $35k in savings/online brokerage counts, and we then have 3 pre-tax retirement accounts from previous jobs. I currently have a 403(b) and 457(b) with my program matching 2%. We are trying to educate ourselves more about retirement accounts and investing now in order to consolidate these accounts into a single retirement account, if at all possible. My questions are:
1. Is it possible to combine several retirement accounts into one new account? If so, could we also convert the older IRA's as well as my current 403/457 accounts to a Roth (since we are now in the lowest tax bracket that we will ever be at in our lives)?
2. Would it be insane to use a CFP in the short-term to set this up, and then move on to managing our investments myself for the long run? Or is it a fairly safe option for a novice to open up a Vanguard account and just go for it?
For what it's worth, this forum and the WCI book is an incredible resource and I appreciate everyone's involvement!
I'm a very frugal first year resident that has been lucky enough to make some good real estate investments (with the help of good luck) in the past between undergrad and going back to professional school. With that said, I'm now looking to step up my game to become an intelligent investor and relying less on luck. We have accumulated about $35k in savings/online brokerage counts, and we then have 3 pre-tax retirement accounts from previous jobs. I currently have a 403(b) and 457(b) with my program matching 2%. We are trying to educate ourselves more about retirement accounts and investing now in order to consolidate these accounts into a single retirement account, if at all possible. My questions are:
1. Is it possible to combine several retirement accounts into one new account? If so, could we also convert the older IRA's as well as my current 403/457 accounts to a Roth (since we are now in the lowest tax bracket that we will ever be at in our lives)?
2. Would it be insane to use a CFP in the short-term to set this up, and then move on to managing our investments myself for the long run? Or is it a fairly safe option for a novice to open up a Vanguard account and just go for it?
For what it's worth, this forum and the WCI book is an incredible resource and I appreciate everyone's involvement!
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