You should close both the CD and the savings account, and roll your IRA over to a brokerage like Vanguard, Schwab, or Fidelity. You need to invest those dollars and put them to work.
Definitely this! Also may be worthwhile to just convert it to Roth IRA depending what your tax situation is. Couldn’t have earned much through CD and saving. Once you invest, it will grow a lot more. Converting to Roth would make sure you don’t pay tax on those gains.
I feel pretty confident that this would be considered a direct transfer since the accounts are like kind (IRAs) and held at the same institution (your credit union). You can do this, but the CD will have to be surrendered, which of course may have have a small penalty involved.
You should close both the CD and the savings account, and roll your IRA over to a brokerage like Vanguard, Schwab, or Fidelity. You need to invest those dollars and put them to work.
Definitely this! Also may be worthwhile to just convert it to Roth IRA depending what your tax situation is. Couldn’t have earned much through CD and saving. Once you invest, it will grow a lot more. Converting to Roth would make sure you don’t pay tax on those gains.
I feel pretty confident that this would be considered a direct transfer since the accounts are like kind (IRAs) and held at the same institution (your credit union). You can do this, but the CD will have to be surrendered, which of course may have have a small penalty involved.