advantages/disadvantages of 403b(7) vs ira

[Guest frkarena]

I am approaching 70 1/2 yrs old..should I switch to an IRA?

[Guest Lyric]

You don't say much about your present situation. Are you still working? Is this money you are going to need immediately or some time down the road? Or is it something you want to leave your beneficiaries?

Bear in mind that with a traditional IRA you have to start taking minimum distributions every year after 70½ and can no longer contribute to it. You can continue to contribute to a Roth, but only earned income (can't, I believe, use distributions from a traditional IRA to contribute to a Roth).

[Guest frkarena]

still working @70 1/2(I understand I may delay distribution until I retire) I plan to continue working ...I will not need the money,,,,I wish to give all to my children...When or if I do retire,is there any benefit to switch to a rollover ira? ..thank you

[Guest Lyric]

I think this is more a financial planning question than something to do with IRA/403(B) do's and don'ts.

Since you aren't getting any responses here, may I suggest you check out Morningstar's "Investment Basics" bulletin board and post your question there. You can subscribe for free.

You may have to outline what your 403(B) consists of now, and what your exact investment goals are. Why, in other words, are you considering rolling it over to an IRA?

You can get to the site via www.morningstar.net (click on Socialize), or here's a direct link to the forum in question (see below). There are other Morningstar forums that you might want to look at (check them out under "other conversations").

http://www.morningstar.net/nd/ndNSAPI.nd/B...umId=F100000002

Good luck!

Lyric