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Old 01-03-2021, 07:55 AM   #21
Dryer sheet aficionado
 
Join Date: Nov 2017
Posts: 47
Just retired from TRS at age 52, in December. Can't really help you on your situation (too much reading for me now )

But you are smart to start planning now and zero in on your goal. It goes by fast. Good luck!
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Old 01-03-2021, 09:16 AM   #22
Recycles dryer sheets
 
Join Date: Dec 2020
Posts: 54
Thank you for the advice!

As far as ROTH IRAs and 403b's, when is the deadline for each?

If I start contributing now, I BELIEVE I have BEFORE April Tax Day to contribute to 2020 ROTH IRA, then after the Tax Day contribute to 2021.

As far as the 403b, the Deadline is Dec 31, so I can only start contributing to 2021.

Is this correct?

Finally, with extra savings after maxing a 403b and a Roth IRA, is it wise to open up a regular brokerage account to put in extra savings? Or put it somewhere else?

Thank you.
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Old 01-04-2021, 04:13 PM   #23
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Join Date: Oct 2012
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I was in Texas Higher Ed and in the ORP (optional retirement 403b), not the pension annuity.
However, I used the Fidelity (Vanguard was also available), with a brokerage account subaccount which gave me access to more investments, including funds outside of Fidelity.

Vanguard and Fidelity are both relatively cheap 403b options; many of the others are comparatively expensive. For 10 years, I also made additional contributions beyond the standard 8% contribution, including during the '08 crash; those contributions paid off, although it took a few years to do so.
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