[jaclou]

It was not available when I was in the FAA but I would put as much as I could in a Roth TSP.
No taxes or RMD's (Required Min Distibution) in your retirement. Or a mix of both regular and Roth. Below is from TSP website

"With Roth TSP, your contributions go into the TSP after tax withholding. That means you pay taxes on your contributions at your current income tax rate. The advantage of the Roth TSP is that you won’t pay taxes later when you take out your contributions and any qualified earnings.

You may consider splitting your contributions between Roth and traditional. Note that if you receive automatic or matching contributions from your agency or service, those contributions will always go into your traditional TSP balance and cannot be converted to Roth within your TSP account."

[Nbquack]

Good advice, my husband did same for both of us. Worked out well.

[Peachbelle]

[With regards to your TSP and which fund to place it in and at what time, there is an advisory service you can sign up for and they will tell you what finds to invest in and when to change funds. This is an independent service outside of the TSP and yes they do charge a yearly fee. I have used them for several years now and it has kept me 'out of trouble.

[USNA87]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

Retired Naval officer and current Navy Civilian employee. When I retired I transferred my TSP into my Civilian TSP, around 13 years ago, and have stayed 100% in the C Fund. There is automatic match of 1% to my Traditional, and I add an additional 4% to the Traditional to get the full match. The rest goes to the Roth. It has been doing very well since I started.

[Biker Guy CJI]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

G 10%
F 10%
C 30%
S 30%
I 20%

Still that way 14 years after retirement.

[retiredguy123]

Originally Posted by Biker Guy CJI

G 10%
F 10%
C 30%
S 30%
I 20%

Still that way 14 years after retirement.

When I retired, the first thing I did was to transfer my entire TSP account into my traditional IRA. I didn't want Congress to have any control of my money. By the way, they have used the TSP as a way to borrow and spend more money.

[DAVES]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

BEWARE. Financial advice often comes from people who are SELLING SOMETHING. Even people trying to offer helpful OPINIONS we do not know you and I would not POST necessary information. An old expression is man plans and god laughs. "A late start?" REALITY there are no do overs. Five to ten years left to work. People and how they think. Reminds me a guy I knew fro Jamaica. He had a diary in his pocket plotting the next 7 years savings etc. They ne was going to move back to Jamaica.

Contrarian or REALIST-not sure what the truth is. All you need to know is when you will pass, what will be your cause of death, tax rate till you pass, inflation rate till you pass. return on you money till you pass. NO ONE KNOWS. ALL WE HAVE IS OPINIONS.

Reading financial STUFF since like High School. WOW A LONG TIME AGO. There is always the disclaimer-my OPINION so that people cannot SUE them if they are wrong. IF, I KNEW, Buffet would be calling me for advice.

I watch Payne. HUH his advertised FREE BOOKS only cost you twenty dollars each. Sort of lost my faith in him due to that. He has said that older people, US are investing like far younger people-taking on far more risk. Right thing to do? We will ge the answer as a shoulda, coulda, mighta but didn'ta

[DAVES]

Originally Posted by retiredguy123

When I retired, the first thing I did was to transfer my entire TSP account into my traditional IRA. I didn't want Congress to have any control of my money. By the way, they have used the TSP as a way to borrow and spend more money.

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.

[DAVES]

Originally Posted by retiredguy123

When I retired, the first thing I did was to transfer my entire TSP account into my traditional IRA. I didn't want Congress to have any control of my money. By the way, they have used the TSP as a way to borrow and spend more money.

Far as government control of you money. Endless articles about budgets and where your money goes. Imagine a service from the IRS. Perhaps like a blood test result. Travel. You spent $$$$$$$
normal for you age and income is. HUM-you are normal, high or low. .

[retiredguy123]

Originally Posted by DAVES

Far as government control of you money. Endless articles about budgets and where your money goes. Imagine a service from the IRS. Perhaps like a blood test result. Travel. You spent $$$$$$$
normal for you age and income is. HUM-you are normal, high or low. .

I just "feel" better knowing that my money is in my Vanguard Investment IRA being invested and controlled by me. I would do the same thing if I retired from a private company and had a 401K account. I don't want someone else controlling my money, especially the Government. When I retired, it took me about 2 days to send in the form directing my TSP account to be liquidated and moved out of the Government's hands.

[Mrprez]

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.

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.

[BPRICE1234]

I am FERS but will look into it.




QUOTE=retiredguy123;2396484]Not the TSP, but one thing I did was to deposit an amount equal to 10 percent of my entire career income (about $170K) into a "voluntary retirement account" just before retirement, and then transferred in into an IRA after retirement. That greatly increased my IRA balance that was able to grow tax deferred. It is a little known benefit that I think is only available to CSRS employees. Look it up.[/QUOTE]

[BPRICE1234]

I just moved from OH to FL. I have both ROTH AND TRADITIONAL TSP. I thought ROTH already paid tax? What advantage would be rolling it into the traditional TSP?

[BPRICE1234]

I saw the TSP website to help maximize your returns.
I have been 100% C fund and it looks like this year will end around 22%

Originally Posted by Peachbelle

[With regards to your TSP and which fund to place it in and at what time, there is an advisory service you can sign up for and they will tell you what finds to invest in and when to change funds. This is an independent service outside of the TSP and yes they do charge a yearly fee. I have used them for several years now and it has kept me 'out of trouble.

[BPRICE1234]

We pay SS as well.

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.