[Peachbelle]

I need suggestions on where to go to set up an IRA CD account where I can transfer money from my gov't. TSP account into a personal IRA CD account. But I want to transfer to an account where I have many options and choices (term length) for the CD's not just one bank. For example I am looking for a vehicle like "Raisin" I can set up a personal IRA and then they have multiple CD options to move money between. I contacted Raisin today and they said they do not offer personal IRA accounts which I find surprising as I thought most financial institutions offered personal IRA's. Any suggestions, thx?

[retiredguy123]

Both Fidelity Investments and Vanguard Investments can provide exactly what you want. You do a direct transfer from your TSP into a Fidelity (or Vanguard) IRA. They will initially set up an IRA settlement fund from which you can buy a variety of CDs from many different banks, many of which are FDIC insured. The advantage of Fidelity is that they have an office at Lake Sumter. When I retired, I transferred my entire TSP account into a Vanguard IRA the day after I retired.

[Caymus]

You should have no trouble if you pick one of the big 3 (Schwab, Fidelity or Vanguard). Personally, I use all 3 but find the Schwab website easier to navigate. Also, many times US treasury's have higher yields than CD's.

[gatorbill1]

Schwab is best for cd - some callable, some not callable - I have a 14 month callable at 4.5%

[dougjb]

It is hard to beat the expense ration on TSP accounts. Moreover, TSP offers a variety of investment options ranging from government bond funds to stock funds. While Fidelity and Vanguard also have low expense ratios, I think they are not quite as low as TSP accounts.

[retiredguy123]

Originally Posted by dougjb

It is hard to beat the expense ration on TSP accounts. Moreover, TSP offers a variety of investment options ranging from government bond funds to stock funds. While Fidelity and Vanguard also have low expense ratios, I think they are not quite as low as TSP accounts.

Personally, I do not trust Congress with my retirement money. I understand that they have already borrowed money from TSP accounts to pay for other things. I feel better about controlling my money in a Vanguard account.

[rsmurano]

You can move all of your 401k, or other retirement pretax accounts into an ira account. Even when I was working, anytime I switched jobs, I would take my 401k from my old employer and moved that money to an ira.

[jtongue]

For what it's worth....G Fund is currently not bad with the world in a bit of turmoil.

I've also converted TSP funds to a Roth with a Fidelity. Trying to stay in a lower tax bracket and keep Medicare premium at the minimum.

[Harold.wiser]

I deal with Fidelity and I'm quite happy with them. They have many, many fixed income investment options.
Good luck!

[JRcorvette]

Originally Posted by Peachbelle

I need suggestions on where to go to set up an IRA CD account where I can transfer money from my gov't. TSP account into a personal IRA CD account. But I want to transfer to an account where I have many options and choices (term length) for the CD's not just one bank. For example I am looking for a vehicle like "Raisin" I can set up a personal IRA and then they have multiple CD options to move money between. I contacted Raisin today and they said they do not offer personal IRA accounts which I find surprising as I thought most financial institutions offered personal IRA's. Any suggestions, thx?

You can set one up an any of the major companies like Fidelity etc however I would suggest that you first go talk to Greg Parady for some advice. The will educate you and give you options without being at all pushy.

[TheMosker-Behrs]

Originally Posted by Peachbelle

I need suggestions on where to go to set up an IRA CD account where I can transfer money from my gov't. TSP account into a personal IRA CD account. But I want to transfer to an account where I have many options and choices (term length) for the CD's not just one bank. For example I am looking for a vehicle like "Raisin" I can set up a personal IRA and then they have multiple CD options to move money between. I contacted Raisin today and they said they do not offer personal IRA accounts which I find surprising as I thought most financial institutions offered personal IRA's. Any suggestions, thx?

IRAs carry extra responsibility over ordinary Bank accounts. You want a company you can trust. I recommend Edward Jones. They can purchase CDs and short-term annuities which can work in some cases just like a CD, from many different sources. Not familiar with a company called Raisin, but typically money is not moved "between" CDs, it's held in them for a minimum amount of time. There are CDs you can close with no penalty, but the best reason to do that is if you find one with a higher rate. Moving money in and out is not a thing with CDs. If you're just looking for a high interest yield, and you do want to be pulling money out in addition to putting it in on a regular basis, you should consider a money market account inside your IRA.

You can speak with a local Edward Jones advisor close to your area and get all the information you need free of charge. There are offices everywhere for you to choose from.

[Peachbelle]

Thank you!

[Peachbelle]

I agree but I am looking for a safe option to the G fund and CD's are paying higher returns while offering safety.

[Peachbelle]

Exactly! And since most of mine is in the G fund this is where they tend to borrow from. Granted they always pay it back but who's to say that one day they may not have that option.

[Peachbelle]

Makes sense thanks