frank 2,144 Posted March 14, 2018 1. I have two retirement accounts, a 403b and a 457b. I am very near the max contribution for each. I assume I can still have an investment account and that the limits on those retirement accounts have nothing to do with it, right? 2. What do you think of this one? https://www.tiaa.org/public/offer/products/tiaa-personal-portfolio I know very little about investing, but I have a little extra money that could be doing something for the next 10 years or so. Share this post Link to post Share on other sites
cyclone24 1,814 Posted March 14, 2018 My first piece of advice is to visit the laws of the geek club thread. Don't expect to get any actual real advice for at least two pages. We got comedy to do here. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted March 14, 2018 1. I have two retirement accounts, a 403b and a 457b. I am very near the max contribution for each. I assume I can still have an investment account and that the limits on those retirement accounts have nothing to do with it, right? 2. What do you think of this one? https://www.tiaa.org/public/offer/products/tiaa-personal-portfolio I know very little about investing, but I have a little extra money that could be doing something for the next 10 years or so. What gov't agency and what non profit? How much do you call the max YOU are contributing to each? Share this post Link to post Share on other sites
frank 2,144 Posted March 14, 2018 What gov't agency and what non profit? How much do you call the max YOU are contributing to each? A public university. 18k. Share this post Link to post Share on other sites
IGotWorms 3,310 Posted March 14, 2018 A public university. 18k. Thats the max for ordinary people, not Geek Club members. Call your broker and let him know Share this post Link to post Share on other sites
Alias Detective 1,179 Posted March 14, 2018 A public university. 18k. You have 2 different jobs and you are putting away $18,000 in to each retirement plan. That's what you are telling me? Share this post Link to post Share on other sites
MDC 5,890 Posted March 14, 2018 You have 2 different jobs and you are putting away $18,000 in to each retirement plan. That's what you are telling me? Frank should probably hold out for a higher salary. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted March 14, 2018 You can put in $18k into each plan each year? I have a 401k that I max out, an investment account managed by someone else, and an eTrade account that I dabble in. The retirement accounts are usually tax deferred (not Roth), but it is good to have investments that are more liquid. How old are you? Share this post Link to post Share on other sites
frank 2,144 Posted March 15, 2018 Just one job. I'm in education. We can have a 403b and a 457k and put up to $18,500 (I think that's the new limit but I am at $18,000) each. I'm 47, hoping to retire as early as 55. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted March 15, 2018 Well, I don't know if there are new rules, but I thought the 457 money can be taken out before age 59, but the 403b money has a 10% penalty if taken early. Both tax the withdrawals. So, max out both, but if you want to retire at 55, that 457 money is more flexible. I would also look at the investment options for each plan as one might have better options than the other. If you have money left over, you can invest yourself in an index-based ETF or some other vehicle depending on you comfort level with risk. Lastly, consider Asian hookers and heroin. Share this post Link to post Share on other sites
supermike80 1,285 Posted March 15, 2018 My first million goes to bonds. I keep my second million in crypto Anything left I keep in the safe of my 50000 square foot home. I can't open the safe when naked tho cause my huge cack blocks my view of the cash. Share this post Link to post Share on other sites
frank 2,144 Posted March 15, 2018 Well, I don't know if there are new rules, but I thought the 457 money can be taken out before age 59, but the 403b money has a 10% penalty if taken early. Both tax the withdrawals. So, max out both, but if you want to retire at 55, that 457 money is more flexible. I would also look at the investment options for each plan as one might have better options than the other. If you have money left over, you can invest yourself in an index-based ETF or some other vehicle depending on you comfort level with risk. Lastly, consider Asian hookers and heroin. Thanks. I forget the rules and which is which, but I know I can take money out of both as long as I am at least 55 when I retire. That's when I would be eligible for a pension, so that would be the earliest anyway. If I retired earlier, I would have to wait until 59 1/2 on one of them. I don't do anything with the investment options except meet with the guy 1-2 times a year and do whatever he suggests. This last time we did a minor rebalance because real estate (I think) did so well last year. You answered my main question. I have limits on what can be put into these, but that doesn't stop me from having other types of investment accounts, like the one I linked above. I may wait and talk to the guy, but I am pretty sure I am going to do it. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted March 15, 2018 You can always invest your money as you see fit. The retirement options give you either tax free (Roth) or tax deferred opportunities. With a regular investment account, you have to pay taxes on any gains (short or long term). That is oftentimes better than it sitting under your mattress. Share this post Link to post Share on other sites
Hardcore troubadour 12,625 Posted March 15, 2018 So this guy maxed out both his contributions by the middle of March? Share this post Link to post Share on other sites
mmmmm...beer 691 Posted March 15, 2018 Thats the max for ordinary people, not Geek Club members. Call your broker and let him know Was the max until Jan 1, it's 18.5k now. Share this post Link to post Share on other sites
frank 2,144 Posted March 15, 2018 So this guy maxed out both his contributions by the middle of March? No. What I meant is I put in $1,500/month. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted March 15, 2018 So this guy maxed out both his contributions by the middle of March? He is saying that he as both areas covered so that he will max them out this year. He has some additional money that he would like to do something with other than having it sit in his savings account getting 1% (if he is lucky). Basic stuff. Share this post Link to post Share on other sites
Hardcore troubadour 12,625 Posted March 15, 2018 He is saying that he as both areas covered so that he will max them out this year. He has some additional money that he would like to do something with other than having it sit in his savings account getting 1% (if he is lucky). Basic stuff. 1500x12= 18000. That covers one Plan. Basic math. Share this post Link to post Share on other sites
frank 2,144 Posted March 15, 2018 1500x12= 18000. That covers one Plan. Basic math. Sorry. $1,500 each. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted March 15, 2018 1500x12= 18000. That covers one Plan. Basic math. I think that he indicated that he is maxing out both and putting in $1500 into each plan each month. You can actually bump it because the limit went up in 2018. There are some catch up provisions that he can take advantage of in the near future (once you hit 50). Share this post Link to post Share on other sites
Alias Detective 1,179 Posted March 15, 2018 Just one job. I'm in education. We can have a 403b and a 457k and put up to $18,500 (I think that's the new limit but I am at $18,000) each. I'm 47, hoping to retire as early as 55. You can invest as much as you want outside of these accounts. Some people consider annuities for the tax deferral. Others use life insurance as a tax advantaged way to create income. And of course, stocks, bonds and funds are also available. Truth is, you will be in excellent financial position with what you are socking away. Just be sure to up you crypto position! Share this post Link to post Share on other sites