Should I cash out my 457 retirement? (26 YO) I am currently trying to move to a new area and own my first home. I would take a pay cut from about $120k down to about $85k or so to start. The cost of living is significantly lower in the new area so keep that in mind. I have around $12,000 cash saved and about $20,000 in a 457 plan through my employer. I was considering cashing it out and pu…

Untouched $20k in 457(b) retirement account? I’m 28 and have about 20k in a 457(b) plan from when I was working for the local city, but I eventually quit last year so it’s just been sitting there for about a year. I started a new federal job so I’m now just investing into the TSP instead. I know I can withdraw it at any time since I already left the City and that’s one of the perks of a 45…

Employer doesn’t offer matches on 401(k) or 457. Which is better? Hello, I’m a 25-year-old with a government job. I currently have an 8-month emergency HYSA and also fully fund my Roth IRA usually around the middle of the year. I’m locked into contributing about $630 monthly for the state pension plan… That money will be vested in about 16 months and I could then technically leave the job and keep all my contr…

Strategy for Married filing separate to pull from deferred comp (457) in 12% bracket? Wife is considering leaving work to raise kiddos she has a 457, if we file taxes separately can she pull from the 457 and stay in the 10- 12% bracket with no income pulling out around 25k per year this also means in CA only paying 2-4% tax! Incredible. I can keep nearly all my income in the 24% bracket by maxing my 401 and 457 with the exemptio…

Army Reservist Changing Jobs: Roll over 403(b) into new job’s 457(b) or into TSP? I appreciate any and all help on this, I’m a military reservist changing civilian jobs and need to decide what to do with my old 403(b). The new job is city government so I have access to a 457(b) with no matching (though they do have a pension program you’re automatically enrolled into), and I currently contribute 10% to my TSP with 5% match fr…

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…

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457 deferred compensation for dummies Would anyone be kind enough to explain, to a dummy (me), what exactly a 457 deferred compensation plan is? I have one through my government job. I’ve had it for over two years and I haven’t touched it or done anything with it (am I supposed to?). My contribution is small, as I only make 50-60k annually. Am I supposed to be investing in things? I…

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