Hello all,
I am considering retirement in about 2 years at age 66.5 and have already begun planning for it (optional - my career is an enjoyable passion). I am married (homemaker with only SS income), I have a TIAA 403b and small Roth IRA (under 50K) - already moving to less risky portfolio. No insurance income. No debt. Have a will and burials are pre-paid. Unique situation - won't have home ownership at retirement and considering condo, etc.. Not sure I want to do fixer upper ownership. I have little interest in managing investments nor getting rich, and my risk tolerance is low to medium, maybe 4 on a scale of 10? My retirement activities are modest (frugal/cheap) - travel a tiny bit, hobbies, fish/hunt/bicycle a tiny bit, give back/volunteer, consult, etc.. Attempt to stay healthy.
I'm not soliciting explicit advice, but rather am trying to establish a game plan, cook book style. The available options are too numerous.
- stay with TIAA, or consider other options: Schwab, Vanguard, Fidelity, private advisor, etc.??? Fisher's hard-sell tactics scare me.
- how do I compare plan costs/charges and/or whittle down choices?
- cash out, keep 403b, rollover IRA-which ones?, more Roth, annuity, combination????
Past threads tend to denounce annuities, but recent changes "seem" to indicate that today they are a viable option for some situations? My TIAA advisor (meet biannually) pitched his first volley: With SS, I could annuitize 50% of my 403b and retain my current "just enough" income. They have provisions for leftover $$ after death still to siblings (at a cost), etc..
So, where do I start? Thank you.
I am considering retirement in about 2 years at age 66.5 and have already begun planning for it (optional - my career is an enjoyable passion). I am married (homemaker with only SS income), I have a TIAA 403b and small Roth IRA (under 50K) - already moving to less risky portfolio. No insurance income. No debt. Have a will and burials are pre-paid. Unique situation - won't have home ownership at retirement and considering condo, etc.. Not sure I want to do fixer upper ownership. I have little interest in managing investments nor getting rich, and my risk tolerance is low to medium, maybe 4 on a scale of 10? My retirement activities are modest (frugal/cheap) - travel a tiny bit, hobbies, fish/hunt/bicycle a tiny bit, give back/volunteer, consult, etc.. Attempt to stay healthy.
I'm not soliciting explicit advice, but rather am trying to establish a game plan, cook book style. The available options are too numerous.
- stay with TIAA, or consider other options: Schwab, Vanguard, Fidelity, private advisor, etc.??? Fisher's hard-sell tactics scare me.
- how do I compare plan costs/charges and/or whittle down choices?
- cash out, keep 403b, rollover IRA-which ones?, more Roth, annuity, combination????
Past threads tend to denounce annuities, but recent changes "seem" to indicate that today they are a viable option for some situations? My TIAA advisor (meet biannually) pitched his first volley: With SS, I could annuitize 50% of my 403b and retain my current "just enough" income. They have provisions for leftover $$ after death still to siblings (at a cost), etc..
So, where do I start? Thank you.
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