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Should i contribute to both a roth ira and unmatched employee 403b or just use one?
Old 12-23-2010, 08:06 AM   #1
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Should i contribute to both a roth ira and unmatched employee 403b or just use one?

I'm a 36 year old public school teacher that won't be retiring for 30 years. right now i have 50,000$ in my school's unmatched 403b with fidelity (spartan funds) and i have 10,000$ in an outside vanguard (target funds) roth ira i started 2 years ago. for the new year i'd like to simplify and contribute as much as i can. should i keep both or try to consolidate them into one account. i can transfer my roth to the 403b but i can't convert the 403b to the roth. should i even think about rolling over one account to the other to simplify or just give as much as i can to both.

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Old 12-23-2010, 08:15 AM   #2
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I would go with the Roth first if I had to pick one, partially because of the features the Roth has for withdrawal and inheritance. It is good that you have Fidelity, a better choice than a lot of people have in their 403bs. You should also check on 403(b)wise . The Leading Source of 403(b) Information on the Web for advice, lot of teachers with good experience and advice there. Its also a good idea to have taxable, tax deferred and tax free accounts to manage tax efficient withdrawals when the time comes.
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