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This is not a time or value answer. Everyone has different needs and expectations. The information you have provided prevents a clear date or value answer which I would not give anyway. First you need to know what your goals were when you began contributing to your 403b. Then ask Are those goals still valid? If those goals are not valid today, then you need to set some new goals. When the original goals we made are still valid, then we ask, Did I meet those goals? When you answer yes, you can stop contributing to the 403b. When you answer no, keep contributing. Look ahead to your plan for retiring. Will you be able to live in retirement the way you want? A friend of mine told me that, money is one of the 2 things in life where too much is not enough.
What else can I help you with?
How much 403b contribution is to much?
Our first priority while working is to earn sufficient funds to meet our daily living requirements. If our 403b contributions take away from our day to day needs, we are contributing too much or earning too little.
Does the employer match count towards the 403b limit?
Yes, employer matching contributions do count towards the annual limit for a 403(b) retirement account.
What is the difference between a 401k and a 403b retirement plan?
The main difference between a 401k and a 403b retirement plan is the type of employer that offers them. A 401k is typically offered by for-profit companies, while a 403b is offered by non-profit organizations, such as schools and hospitals. Both plans allow employees to save for retirement through pre-tax contributions, but there may be some differences in investment options and eligibility requirements.
What is the max annual pre-tax contribution for a 403b for 2010?
For the general population, $16,500. If you're 50 or over you may be eligible for $5500 in catch up contributions.
Is there any way I can transfer my 403B into money market?
There are many ways to transfer 403B into money market
Do you need to claim anything on your taxes for your 403b?
For contributions, no, unless you exceeded one of the annual maximums. For distributions, yes, you should have gotten a 1099-R.
Does cashing in a 403b affect your tax return?
Yes. The contributions were not taxed the withdrawals are. And are reported by the adminstrator to the IRS
How much 403b contribution is to much?
Our first priority while working is to earn sufficient funds to meet our daily living requirements. If our 403b contributions take away from our day to day needs, we are contributing too much or earning too little.
How do you close a 403B account?
can i close my 403b account
Does the employer match count towards the 403b limit?
Yes, employer matching contributions do count towards the annual limit for a 403(b) retirement account.
What is the difference between a 401k and a 403b retirement plan?
The main difference between a 401k and a 403b retirement plan is the type of employer that offers them. A 401k is typically offered by for-profit companies, while a 403b is offered by non-profit organizations, such as schools and hospitals. Both plans allow employees to save for retirement through pre-tax contributions, but there may be some differences in investment options and eligibility requirements.
What is the max annual pre-tax contribution for a 403b for 2010?
For the general population, $16,500. If you're 50 or over you may be eligible for $5500 in catch up contributions.
How long after your 403b contribution is deducted from your paycheck should it take to be credited to your 403b account?
That is a guideline of the plan document and varies by the manner by which an employer transfers the funds to the plan. Ask your employer or the plan reperesentative for specifics.
Is there any way I can transfer my 403B into money market?
There are many ways to transfer 403B into money market
Can I use my 403b to buy a house?
No, you cannot use your 403b retirement account to directly buy a house.
How can you stop your brother reading your contributions?
Tell him to stop!
Can you cash out your 403b?
You can cash out your 403b, but expect tax penalties of up to 30% if you are under the age of 59 1/2.
