What can I do with my 403(b) if I am retiring early?

I have a 403(b) that I invest $100 a month in. I can retire from the public school system in 9 years at age 46. I do not want to take any money out of my 403(b), but I want to be able to continue contributing to the account so it will continue to grow. Can I roll it over into something when I retire? I'm pretty sure I will not be able to continue contributions since I will no longer be a non-profit employee.

Financial Planning, Retirement Savings
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July 2017
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That is amazing retiring at 46!!!!   You can rollover your 403b to an IRA.  You won't be able to contribute to your 403b if you are no longer working as a teacher.  If you are working elsewhere you may have access to a retirement plan there or you can contribute to the IRA where you rolled your 403b over to.

 

Here is some helpful info on the other types of retirement accounts out there:

What you need to know about Every type of Retirement Account NOW

 

Live for Today, Plan for Tomorrow.

 

DAVID RAE, CFP®, AIF®  is a Los Angeles Wealth Manager with Financial Planner LA, a regular contributor to the Advocate Magazine, Huffington Post, Investopedia and other fine publications as well as a financial planner proudly serving the great friends of the community for over a decade.  Author of the Fiduciary Financial Planner LA blog.

For more information visit his website at www.davidraefp.com

July 2017
July 2017