Money Decisions

HALP! Okay not really, but opinions wanted.

As I posted last week I’m putting my big girl panties on and taking time to look at my health care options, FSA options, retirement etc. 

I’m switching to the “health aware” plan since I only go to docs for wellness visits. I’m also not re-enrolling in my FSA account since I barely touched it and now have to spend $300 bucks on random things. 

Well my current retirement stuff is in a 403b and the like. I have 3 different things rolling and in the 2 years I’ve been hear I’ve been socking away a good bit (especially with employers contributions and cash match). 

My previous job that I was at for 4 years was part of a state pension system, but you weren’t vested until 7 years of service. So when I left 2 years ago my money is basically sitting in that retirement account doing nothing and I haven’t had the energy to think about it.

I finally got around to looking at options this week –  I can roll into a 103b type account with my current “trustee” TIAA-CREF without a tax penalty. I can also roll a % of it to TIAA-CREF without a tax penalty, but any money I would get would be taxed at 20%. I also could take it lump sum and be taxed 20%. To not talk numbers per say the money in this old retirement account is less than half of what I have in my current retirement plan. I essentially have double the money in ½ the time and it’s only growing.

I am thinking about rolling 50% of the pension money into a TIAA-CREF account and cashing out the other 50% with the tax hit in order to buy veneers. I’ve wanted veneers since FOREVER. It’s upsetting that I have all these heath care options, yet the one thing I really want to get taken care are my teeth. But since it’s cosmetic regardless of the insurance I have it won’t matter. THEN there is part of me that’s like if I’m going to get hit with the tax penalty I might as well make it worth it and take it all lump sum and get veneers, pay off a big chuck of car debt, etc. 

I really need a financial advisor, but I don’t have one. I have tumblr. So advise.