Should I invest in a 403B?

I am 54 and plan to retire in a few years. My husband is already retired. My school district does not match funds on a 403B. What are the advantages of investing at this stage in a 403B? Is there a better way? Perhaps Mutual Funds?

The question is would you need to start withdrawing from the 403b when you retire in a few years? While contributing to the 403b would allow you to defer taxes on the income now, you wouldn't have very long to let those savings compound and you wouldn't want to allocate your assets within the 403b very aggresively unless you are able to let the funds sit for several years after retirement.

Remember, also, that you would incur penalties on any withdrawals prior to age 59 1/2 from your 403b. Additionally, many 403b programs use Tax Sheltered Annuities as the investment chassis. These annuities may have surrender charges assessed on withdrawals during the first several years after investing.

If you do decide to go ahead with the 403b, make sure you read the prospectus and all related info, especially in regards to withdrawal charges.

Yes and No, it is up to you. Here are some of the Pro and Con:
Contribution and earning are Tax Defer.
Your cost basis is always protected if you die.
If you plan to take the money out in a few years, there may be surrender charges on these403B or MF
You may lose your money.