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It is time for my wife to starting contributing to her 403(b) again since we are inheriting some money from her father's IRA. This money will raise our income almost beyond the 28% bracket. Whether our tax bracket goes up or not, rekindling contributions would be the smart thing to do of course. My question is whether I should transfer the money out of our current broker and into a less expensive firm, such as Vanguard. We now have American Express and the returns have been mediocre at best. Even during the bull market, returns were around 8 to 10%. There are not many good funds to choose from. The current value is around $18,000 but to transfer to another brokerage, a surrender charge is imposed of $900. Should we pay the surrender charges and start fresh with someone else? She is 44 and plans to work another 10 years. We already contribute the max to my 401(k) and our Roth IRA.
Responses are always appreciated.
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