I’m 33F and finally trying to understand my money. This might be simple but I don’t know what direction to go in. At my job I have a simple ira with $40k, but my job outgrew it in 2022 and they do not know if they will do a 401k, so I haven’t been contributing to anything. I finally got around to opening a new account, I chose a Roth and I started a 2055 tdf (I see there’s other options but I wanted one where I could set it and forget it). Right after I opened this I realized my simple ira is in an American Funds 2045 tdf. Googling tells me it is pointless to have two. Another layer is that the 2045 tdf has a 5.75% front end load.
I am not sure what to do. Should I move my simple IRA to a traditional one and move out of the 2045 tdf? Keep using it and scrap the new tdf I just opened?
original posted by blozman to r/personalfinance on Fri, 01 Mar 2024 01:43:15 GMT.