Reader Questions Retirement Related

Should I Cash Out My 403(b) Since I Switched Jobs? – Jamie

Should I cash out my 403(b) because I switched jobs?

I am a young professional who recently switched jobs. My old job used a 403(b) matching system, to which I contributed for 10 months, my new job does not. My husband and I are starting some other investments with a different company than what my 403(b) is currently with.

He wants me to cash out my 403(b) so we can take that money and put it into an IRA with the new company (and deal with only one company). I want to just leave it there and roll it over into an IRA with them. If we cash it out, we will end up losing about half of the total value it currently sits at. If we leave it there and don’t contribute any longer, it will lose an administrative fee of $24.00 per year, which it should be able to do without losing any value. We are no longer at a point where we can compromise – which is the better decision?


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Steve Rhode

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