I have a 403b, i became disabled and would like to know what's the best way to reinvest it witout being hit with penalties? I was thinking of rolling it to a roth ira or could I invest it in stocks? It's not much.
Hi, you may want to ask a financial expert. My research efforts would take a suffiencient amount of time, and rather than have you waiting, I think it would be easier to ask a financial expert. Visit www.home-garden.justanswer.com and select "finance expert" from the pull-down menu. After you receive an answer, you may also want to ask a "tax expert" a question from the pull-down menu, just in case the financial expert did not answer all of your questions relating to penalties.
Ok, I've researched for you and found a website that should answer all of your questions without a fee. It just requires some reading though. But I've selected to give you the rules of the 403b plan. I hope all of the info you are seeking is comprised in the pages of the website:
www.beginnersinvest.about.com/od/403bplan/403b_Plan.htm
As Femalesoldier mentioned you should ask a tax expert or accountant this question. It's very easy to make mistakes in this situation and it would be a shame if you lost money cause of stupid errors. Here is a link to a discussion handled over this issue on another site. Perhaps it can give you a lead.
http://www.smartmoney.com/mag/index.cfm?story=ask-november
Hope this helps you.
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