I know I’m behind — but what can I do to make it up? 51 with $225K in a dormant 403b and $25K in an active 401K.
Like the title of this post, I realize I’m behind and should have started with my retirement planning much earlier, but is there anything I can do to make it up? I’m 51, supporting a family of 5.
I currently have $225K in a dormant 403b from my previous long term employer. Additionally, I have an active 401K with $26K in it with my current employer. I’m currently contributing 5% of my $100K income to that account and it’s matched by my employer.
What should I do with the 403b? Roll it over to an IRA? Or roll into my current 401K?
Beyond those accounts, I don’t have anything else savings-wise. But, I can probably create margin if I had some ideas on what to do.
Any help would be greatly appreciated.