I've recently began a career for Virginia State government. 5 percent of my check is put towards the Virginia retirement system which is completely managed by Virginia. It's a pension plan essentially. I've been working for a nonprofit organization for 5 years and have about 4k saved in a 403b plan.
My question is, what should I do with the money I have in a 403b plan? I can't transfer it into the Virginia retirement system, but it's such a small amount I don't feel like it would be worth it to keep it in the 403b and let it grow. I also don't want to take it out and pay the penalty, so I'm a little lost on what the best option would be.
To add more confusion to the mix, I don't believe I will be working for Virginia State government for the entirety of my career. So I would like to build some sort of retirement outside of the VRS system. But I also can't afford to use any of the money from my paycheck to put towards retirement at the moment.
Thanks for the input.
Submitted September 08, 2018 at 09:19AM by BokononsPurpose https://ift.tt/2wUXXVo
