Roth IRA

If a Roth IRA is maturing what are my options? Can I put the money into my403b account? Take it out and addition money market account? Or is the only option to renew it?

Thanks!

Re: Roth IRA

If you are under 55 you will face penalties for withdrawing money from an IRA unless it is for specific things (some education, first time home buyer, etc.). You can't add the money to a 403b/401k. You can invest the money into other investment options within the IRA (stocks, mutual funds, or you could renew it in what ever you have now.).

Re: Roth IRA

First why do you want to move it? Are you unhappy with the performance of your current investment, are the fees too high?
If everything is running well just roll why not just roll the funds forward. Just keep that ROTH money as ROTH money make sure you do not commingle it.

Do you have a ROTH 403(b) option in your district - I ask because not many LI school districts do. If you have a ROTH 403(b) option you can roll it over.

I see lots of retired clients (I work mostly with teachers) that wish they had put more into a ROTH. They don't want any additional taxable income as retirees.