403b rollover or cashout with relocation?

  1. Trying to make good decisions...

    Should we just cash out the 4032b or roll it over...

    I know there are tax losses, however we will have a span of time without income until the first paycheck comes.

    Somebody talk to me!

    Any financial gurus here?
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  2. 3 Comments

  3. by   Quint
    you should not cash it out, you will take a 10% penalty from the IRS if you are under 591/2 and you will have to pay income taxes on it. it best to roll it over to an IRA and invest is some good mutuals funds. I would talk to a good independent financial planner about this.
  4. by   KimberleyRN
    Quote from Quint
    you should not cash it out, you will take a 10% penalty from the IRS if you are under 591/2 and you will have to pay income taxes on it. it best to roll it over to an IRA and invest is some good mutuals funds. I would talk to a good independent financial planner about this.

    Thanks for responding...

    Since I posted that a YEAR ago, it is a bit late.

    I do appreciate it though.
  5. by   Cursed Irishman
    so what'd you end up doing?

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