I’m trying to determine which I should fully fund first - my Roth IRA or 403b.
For a bit of background, I have a pension which takes 11% of my gross yearly salary. My goal is to reach 20% retirement savings by puting an additional 9% in the Roth or 403b. I can do more than 9%, but that’s my starting goal. I already have a Roth IRA set up and it is fully funded for the year. I have not yet opened the 403b, but I found out that I can invest through Fidelity (where I have my Roth) and can choose any fund. This is great, since I hear that most 403b’s have crummy investment options. Unfortunately, there is no employer match for the 403b.
I know that the PFC investing checklist says to fund the Roth before the 403b if there’s no employer match, but I’m not sure why. A financial advisor through my bank advised me to do the opposite- fund the 403b first. She also recommended that I don’t roll over the Roth into the 403b and instead let it sit there until I can fully fund the 403b and have $ left over. I doubt I’ll be able to meet the $20,500 403b limit anytime soon.
Essentially, I’m a bit confused about the differing advice and I’m trying to make the best choice possible. I appreciate any input!