Can I rollover a 403b to a CD without suffering the penalty?
I want to keep the money in a long term savings account to put toward purchasing a house in the next couple of years and wanted to know if this is an option.
Filed under: Retirement Planning
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No.
It needs to be rolled over to an IRA.
If you cash it out and put it in to a CD, you will pay taxes and a 10% penalty.
If you want to pay a boatload of taxes today, go ahead and do this