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Financial Counseling Session

February 11th, 2015 at 02:27 pm

I met with a rep from TIAA-CREF yesterday. Mainly I wanted to know what to do with the very small 403(b) fund I have earned in my six years at the College. I was under the impression that I would need to make a decision to withdraw it somehow upon leaving, but in fact it can continue to sit there and grow. So that's what I'm going to let it do. I also learned I can pull money out of it any time I need it (after retirement), so there is no reason to touch it now. In fact, I made it a little less conservative, so I should see some added growth.

I am anxiously awaiting payday on Friday. I have to pay my Discover bill, which will be around $1300, and my tax bill, which will be $1200. I think I will have just enough to cash flow it. It's close. Then I can FINALLY start building up my savings accounts again. Very excited to get going on that. I don't have any big bills coming up in the near future.

I am also anxiously awaiting to hear about the early retirement decision. It's going to be very hard to get my head back into the notion of working till December, if I don't get accepted. I am so ready to put it all behind me! But I will make the best of it, if that's how it turns out.

2 Responses to “Financial Counseling Session”

  1. ceejay74 Says:

    Fingers crossed for the early retirement!!

  2. Another Reader Says:

    TIAA-CREF offers funds with high expense ratios and pushes expensive annuities. They may also charge account maintenance fees. You could roll the money over into an IRA somewhere else, like Fidelity or Vanguard. It would be less expensive and you would likely have better investment choices.

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