Hello Everyone. I've been lurking for a bit and decided to finally post. I am new to the whole "retirement game" and I feel behind compared to many of you. Please forgive my ignorance, I've been trying to learn this as best as I can.
I recently finished fellowship earlier this year and I am finally an attending. I have a 403b from residency and was told by a friend I should roll this into an IRA. Looking at the requirements for a roth IRA, it seems my AGI is too high and so a traditional IRA is more of what I would need. I had a few questions I hoped someone could shed some light on.
Are there tax implications involved in transferring my 403b money to a newly opened traditional IRA?
I haven't even made an account yet, but was thinking about going with Vanguard or Fidelity as those seem to be the most popular choices. Is there a particular fund that I should select? I'm still young so I figured a more aggressive portfolio would be better, possibly 80% stocks 20% bonds.
My wife is a stay at home mother, but we file jointly. From what I've read I am able to open an IRA for her as well. Is this true and would it also need to be a traditional IRA?
I'm sure I will come up with more questions. I appreciate everyone's help and look forward to reaching the heights many of you have achieved.
I recently finished fellowship earlier this year and I am finally an attending. I have a 403b from residency and was told by a friend I should roll this into an IRA. Looking at the requirements for a roth IRA, it seems my AGI is too high and so a traditional IRA is more of what I would need. I had a few questions I hoped someone could shed some light on.
Are there tax implications involved in transferring my 403b money to a newly opened traditional IRA?
I haven't even made an account yet, but was thinking about going with Vanguard or Fidelity as those seem to be the most popular choices. Is there a particular fund that I should select? I'm still young so I figured a more aggressive portfolio would be better, possibly 80% stocks 20% bonds.
My wife is a stay at home mother, but we file jointly. From what I've read I am able to open an IRA for her as well. Is this true and would it also need to be a traditional IRA?
I'm sure I will come up with more questions. I appreciate everyone's help and look forward to reaching the heights many of you have achieved.
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