Friends, I am a long time lurker who has tried to educate myself on PF as much as possible. I'd appreciate your help nonetheless.
I recently got a new job and am struggling to decide what to do with my old retirement account. I have one account with Empower Retirement that has close to $50K in it. I'd say 80% of that is in a ROTH 401K and the remainder is in a traditional 401K. I suspect I will need to open two retirement accounts now to split this into pre-tax (traditional) and post-tax (IRA) but am struggling to decide what accounts to open.
My new employer does not offer retirement match or accounts until I hit the two year mark. At that point, they will contribute 8% with no match needed. However, over the course of the next two years, I want to continue to invest in retirement. They shared information for a voluntary 403B with TIAA, but I wonder if I would be better off opening a Target Retirement Account with Vanguard. If I open up with Vanguard, is there a way to deduct this pre-tax from my paycheck? If not, will I get hit on taxes now and then again on the gains when I take it out in retirement? What are the thoughts here?
Also, any leads or suggestions for the IRA?
Submitted February 05, 2020 at 08:12PM by TheGoldenRuler https://ift.tt/2S1do9c
