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Question for the Money Doctors

Question submitted on Mar 19, 2014.

Question

I understand I need to move my money that was in a 403b & 401k out of company I worked for prior. ..was thinking to have both moved into one tradional ira account , I bank right now with Indiana members credit union and was wondering if this is my best choice/decision?

Answer

Please note that there are new rules that allow just one rollover to an IRA in a given year. Direct trustee to trustee transfers will avoid the aforementioned rules. Not knowing your complete financial profile, we cannot give specific investment advice. Please contact a CPA/PFS in your area who will be able to personally guide you. Visit www.findacpapfs.org to find one in your area.


For additional information visit http://www.360financialliteracy.org/