So I am in the process of rolling over an old 401k from a previous employer into an IRA. My wife also has a 403b from a previous employer. I was wanting some opinions on if I should roll her full amount over into her own IRA or withdraw it and take the hit for early withdrawal and just put that money into my IRA for the compounding interest factor. I am trying to figure this out as my parents just had standard 401k and pension plans so they are not as familiar with this side of it.
Some needed context:
I am 30 and am now self employed so an IRA is the only way to go for me.
My wife is under 30 and I am not sure if she can roll hers into a retirement account through her new job. (She is at a private school now so I am not sure how all of that works, but do plan to assess that in the coming days)
Her 403b is under $10k (so lets say the hit we incur on that is somewhere in the ballpark of $1500)
Please correct me if I am wrong on any of this, I am still learning. Just looking for some different opinions on the options I have while I work on getting my stuff rolled over.
Some needed context:
I am 30 and am now self employed so an IRA is the only way to go for me.
My wife is under 30 and I am not sure if she can roll hers into a retirement account through her new job. (She is at a private school now so I am not sure how all of that works, but do plan to assess that in the coming days)
Her 403b is under $10k (so lets say the hit we incur on that is somewhere in the ballpark of $1500)
Please correct me if I am wrong on any of this, I am still learning. Just looking for some different opinions on the options I have while I work on getting my stuff rolled over.
