For a start we are going to talk about 403B plans. These are retirement plans that are usually:
1) A custodial account invested in mutual funds, or
2) An annuity contract through an insurance company.
You need to know what kind of control you have over the decisions made for these accounts. Also talk to the plan administrator about the time frames for changes.
The safest vehicles in the pandemic for investing, if you are locked into a retirement plan, are U.S. backed treasuries. Find out what kind of mutual funds you are invested in. If you are invested in an annuity through an insurance company, find out what kind of penalty there is for withdrawal.
1) A custodial account invested in mutual funds, or
2) An annuity contract through an insurance company.
You need to know what kind of control you have over the decisions made for these accounts. Also talk to the plan administrator about the time frames for changes.
The safest vehicles in the pandemic for investing, if you are locked into a retirement plan, are U.S. backed treasuries. Find out what kind of mutual funds you are invested in. If you are invested in an annuity through an insurance company, find out what kind of penalty there is for withdrawal.
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