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I'm new to Fooldom, and would like to get my husband and my IRA's out from our old employers into something I manage (through e*trade). I have one old 403(b) and two old 401(k) accounts and Neal, my hubby, has one old 403(b) acct.

Can I consolidate any of these together, or does each account need to be rolled over into it's own separate IRA?

Many thanks for your input.

Beth
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Greetings, Beth, and welcome. You asked:

<<I'm new to Fooldom, and would like to get my husband and my IRA's out from our old employers into something I manage (through e*trade). I have one old 403(b) and two old 401(k) accounts and Neal, my hubby, has one old 403(b) acct.

Can I consolidate any of these together, or does each account need to be rolled over into it's own separate IRA? >>


Yes, you may consolidate your one 403b and two 401k accounts into a single IRA for you. Your husband's 403b account must go into an IRA for him. Your respective retirement plans cannot be merged into a single IRA for the two of you because the "I" in IRA stands for Individual. There is no provision in the law for joint ownership of an IRA.

Regards..Pixy
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'm new to Fooldom, and would like to get my husband and my IRA's out from our old
employers into something I manage (through e*trade). I have one old 403(b) and two old
401(k) accounts and Neal, my hubby, has one old 403(b) acct.

Can I consolidate any of these together, or does each account need to be rolled over into it's
own separate IRA?

Many thanks for your input.

Beth

How old are you? That is, will you ba at least 59 1/2 this year, or were you born before 1936? Also amounts in each 401k, and your tax bracket. You may want to do Lump Sum Distributions on the 401ks, not available on 403bs. Ed
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edcosoft:

You asked:
How old are you? That is, will you ba at least 59 1/2 this year, or were you born before 1936? Also amounts in each 401k, and your tax bracket. You may want to do Lump Sum Distributions on the 401ks, not available on 403bs. Ed

_______

Oh, gosh, no -- my husband and I are both 29yrs. old with many more years to invest in our IRA's.

Amounts in each IRA:
Hubby's old 403(b): $5K
My old 403(b): $19K
My old 401(k): $3K
(2nd old 401K is under $100)

Tax bracket: Uh, I should probably know this, but my husband does all the taxes. Combined income this year will be around $60K

Since all of these IRA's have been in under-performing mutual funds, I'm thinking of changing hubby's 403(b) to Index fund, and my accts to RP4.

Your thoughts?

Learning to be Foolish,

Beth
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I don't see any replies to your question, so maybe I can answer some of it. I would recommend your proposed strategy. I have 1/3 of my portfolio in FF (actually RP4), 1/3 in growth stocks and the remainder in several small cap stocks and SPY.

When I retire I propose to sell part of the portfolio each year when I rebalance the FF. This will be placed in SPY and sold each month for monthly income.

Good luck. I don't generally like mutual funds, but I have had good success with T Rowe Price Science & Technology fund. It has really great years and really poor years but the good seem to overpower the poor one.

Jim
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Oh, gosh, no -- my husband and I are both 29yrs. old with many
more years to invest in our IRA's.


Sorry, I stay away from that kind of advice as there's plenty on this board. My questions regrarded getting the funds out on a Lump Sum Distribution, but you must be 59 1/2 to do that. Hope your zillionairs by that time. Ed
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Thanks Ed. I certainly understand you not wanting to offer any specific advice. I'm not making any final decisions now anyway -- just asking around and trying to read The Fool stuff a lot.

Beth
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Jim-

Thanks for your suggestions. Knowing what others are doing in Fooldom, helps me figure out what I want to do. Right now it's mostly -- get control of my accounts and educate myself!!!

I truly appreciate your help in my quest to be more and more Foolish!

Beth
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