I'm an intern and my wife is a nurse. She doesn't care to know anything about investing other than asking me to me to make it happen so that we have money some day when we want to retire.
She changed employers after a couple of months this year and left behind a 401k with about $1300 in it. For now we can leave it where it is (Fidelity). Since the account is so small I'm sure they will encourage her to take it somewhere else before too long. Her current employer offers a 403b and Roth 403b with a match or 457b with no match (TIAA). She is currently contributing to the Roth 403b enough to get the whole match (I think 7%+ 3%).
1) Should I leave the money alone until they encourage her to move it or go ahead and move it?
2) Can a 401k be rolled into a 403b?
3) I'm not exactly sure how it would complicate things to roll it into an IRA next year (or some year in the future), but would that be a better option? I'm guessing it would have to go into a traditional IRA. Then that would limit the Roth contributions she could make for that year.
4) We already have Roth IRAs that are almost maxed out for this year. Do Roth 403b contributions have any effect on how much one can contribute to Roth IRA (being otherwise Roth IRA eligible)?
Thanks in advance if you can answer any or all of my questions.
She changed employers after a couple of months this year and left behind a 401k with about $1300 in it. For now we can leave it where it is (Fidelity). Since the account is so small I'm sure they will encourage her to take it somewhere else before too long. Her current employer offers a 403b and Roth 403b with a match or 457b with no match (TIAA). She is currently contributing to the Roth 403b enough to get the whole match (I think 7%+ 3%).
1) Should I leave the money alone until they encourage her to move it or go ahead and move it?
2) Can a 401k be rolled into a 403b?
3) I'm not exactly sure how it would complicate things to roll it into an IRA next year (or some year in the future), but would that be a better option? I'm guessing it would have to go into a traditional IRA. Then that would limit the Roth contributions she could make for that year.
4) We already have Roth IRAs that are almost maxed out for this year. Do Roth 403b contributions have any effect on how much one can contribute to Roth IRA (being otherwise Roth IRA eligible)?
Thanks in advance if you can answer any or all of my questions.
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