Please excuse my very minimal knowledge on retirement funding. I am 30, almost 31. I 'm wishing I started investing way sooner, but anything is better than nothing. I was at a former job for almost 4 years. I first started a retirement account at this job, that I'm no longer at. When I log into my account, the balance is ~$8,400 and the investment option is in an account called "American Funds 2055 Trgt Date Retire R6." I really have no idea what that means...Although my balance is over $8,000, my "total vested balance" is $3,373.76.
I'm now at a new job, that I can call my career and see myself here for a long time. I just now started a retirement account here. I have a very humble $200ish in my account, I contributed $105 my last check, and my employer $105. The account is called a 403B, with a rate of return being +1.79%.
Can I "roll over" my old retirement funds into this new account? I'd like my funds to be in one place, and I'm not sure how easy, or complicated, this process is.
If someone could please help me by dumbing down the retirement process, I'd appreciate you so much. Thank you in advance!
Submitted October 12, 2019 at 09:58PM by slowtownpop1 https://ift.tt/2q9afZI
