Helping my mother retire — should she take a 9k payout of her accrued sick days as cash or a tax deferred 403b/457/Roth? My mother is soon and has accrued enough unused sick days to warrant a 9k payout from her employer. They are giving her the option of a cash payment or a contribution to a tax sheltering account. The issue is that she does indeed need the money within the next 9 months or so. Is there any tax benefit to having them deposit the money into a 403b…

Advice needed on 401K and 403B. My company is a non-profit and offers me both a 401K and a 403B. I want to maximize both to help lower my taxable income. I’m reading that you can only contribute $22,500 TOTAL for 2023 into all retirement plans you are eligible. Is that correct? So far I’ve contributed $13Kish to my 401k and $9,500kish to my 403B, Making my total YTD contributi…

Tax strategy while moving 403b funds in retirement? I’m helping my aunt (~65F) manage her retirement accounts after she’s already entered retirement while trying to minimize the subsequent tax implications. She has a 403b account that’s been charging well over 1% in management fees, so we’d like to move that money into a Vanguard account. Obviously by cashing out the 403b there will be income tax…

I started a 403b when I became a teacher – should I move this money somewhere else? When I moved into teaching I was offered a 403b and signed up, putting a few hundred dollars a month into this fund. It sounded like a good deal at the time – basically 0 fees, invested into an S&P 500 index fund, and when I retired it would pay out as an annuity. Now a few years on, I’ve made ~$9,100 in contributions. I’m realizing that when I…

Considering maxing out 403b, is it the right move for us? Hey Reddit, I am contemplating having my husband and I max out our Roth 403b’s, and although I’m sure we can swing it, I am wondering whether it is actually the smartest thing to do. For context, we are both in our early/mid-thirties. We are very fortunate in that we have paid off our mortgage early and are already maxing out our Roth IRA’s. Nei…

How to set up a 403b plan and who to choose? Novice here and confused. I need to set up a 403b account (teacher) and roll over my previous corporate job’s 401k money into it as well as my previous district’s teacher’s retirement account. I just don’t know where to start, who to call. Does it matter if I open it with Vanguard, Fidelity, or Principal? What’re my best options? Thanks in adva…

Is a 403b always the best option if you qualify? My husband and I are both in education. In addition to our state funded pensions, we are eligible to contribute to a 403b plan. I have been doing this for my entire career (26 years). My husband became an educator later in life so we never opened a 403b fund for him, we would just increase contributions to mine. My husband is also 5.5 years olde…

Help: I’m a beneficiary of a Vanguard 403B but they won’t process my claim? I am 1 of 3 primary beneficiaries of my deceased relative’s 403B (i was assigned 35%) but they told me that they put a hold on my claim because no one seems to know the 2 remaining beneficiaries and it’s been 5 years already… Is there any way to go around this rule(?) Although i havent read anything about it.. any help is appreciated This is w…

Employer doesn’t match 403B till I’m 26 I’ve been contributing about $500 a month to my 403B, but I don’t receive employer for 2 more years. I have just been doing this to lower my taxable income. My question is, should I invest this $500 into my Roth each month? I currently invest 300 a month into it, which is not enough to max it out for the year. Thanks! submitted by /u/Fina…

Advice on Transamerica 403b Investment Options? Does anyone have any advice on these investment options for my employer’s 403b? I’ve asked colleagues (everyone basically told me they picked randomly), googled extensively, and just can’t find any info on the nature of these options, risk profile, fees, etc. Any help appreciated. KEY3 Transamerica Partners Government Money Market Subaccount GD…

Am I on the right track with 403b? 43, single, no kids, and late to the 403b game (just a few years in). No employer match (state gov), but I put in 13.8% pretax and 11.86% post (ROTH) = trying to max out Roth every year from now on. Changing % on 403b every time there is a raise (most years it was 1% raise, last two we went up to whooping 4%) Total(pre+post) comes out to 25%. Cu…

Is there a reason not to consolidate multiple 401k/403b/IRA’s into one account? Hi, sorry if this is a dumb question as I am just starting investing. I saw a recent post where people were discussing the number of individual accounts they have and I was wondering given that there typically isn’t a penalty for rolling over accounts from an IRA to 401k or vice versa, why someone wouldn’t conglomerate all of their accounts into…

How to assure you are contributing maximum amount to 401k/403b I am looking to max out my 401k pre-tax deductions ($22,500). My question is, how to I make sure the maximum amount is taken out, and not more? When I go to the fidelity website, it only allows me to adjust my contributions to a % of my income. Lets say that if you theoretically make 100k/year, then that would be 22.5% of your income. However, I…