Quote:
Originally Posted by DAVES
Truth I don't know what a TSP account is. Apparently from a government job. I live in the REAL WORLD. Government accounting-huh. We had no choice but to pay a TAX called social security. We had no choice but to let government hold OUR MONEY. What did they do with OUR MONEY that we gave them to hold for us? THEY SPENT IT. Imagine we pay TAXES to a BUSINESS the United States that owes 37 TRILLION DOLLARS.
iNVESTMENTS-both parties have said we should be able to invest part of OUR Social Security into the stock market. We ALL should know from experience. Some would do better than others. VOTERS would scream the government should take from those that did well and give to those who did not.
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Federal employees have no choice but to pay SS, the FERS system was enacted in 1987. Prior to that there was CSRS and employees did not contribute to or collect SS. A TSP, Thrift Savings Plan, is a voluntary system similar to a 401K in the private sector.
We moved my wife’s TSP funds to an IRA in preparation for her taking RMDs starting in 2025.