taking 35,000 what to do

[jwr62]

I am taking 35,000 of our 403b to be at the top of the tax bracket. I use it for our emergency fund when husband retires.... do not need the money so could I put in money market or buy some mutual funds and then pull it when I need it.?

 

[Ready]

Sure. You can do anything you want with the money. You just have to understand the risks/rewards with a money market versus equities. If you think you will need the money in the next five years, I would not invest in equities.

 

[zinger1457]

If you don't need the money right away you might want to consider doing a ROTH conversion with the $35K. I'm not familiar with 403b's but believe it's allowed. You will have to pay taxes on the amount converted, preferably from a separate savings account, but when you start making withdrawals from a ROTH it is tax free.

 

[Blue Collar Guy]

dont take the money till u have the emergancy

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