What Should I Do With My TSP When I Retire?

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WHAT SHOULD I DO WITH MY TSP WHEN I RETIRE? | Have you been contributing to a TSP? Will you be retiring from the federal government soon? In this video, I cover five options to help you decide what to do with your TSP when you retire.
#thriftsavingsplan #tsp #tspwithdrawals #tspretirement #federalretirement #thriftsavingsplanretirement #thriftsavingsplan2023 #federaljob #howtoinvest #federalfinancialplanning #tspexplained
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Skip Ahead Here!
0:00 - What should I do with my TSP when I retire?
0:33 - Option 1
1:52 - Option 2
3:00 - Option 3
3:59 - Option 4
4:50 - Option 5
6:08 - The final verdict
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Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio)
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A Random Walk Down Wall Street by Burton G. Malkiel (classic book that sold me on index funds) amzn.to/2H7pbzS
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Опубликовано:

11 июл 2024

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Комментарии : 27

@DistrictCapital Год назад

Skip Ahead Here! 0:00 - What should I do with my TSP when I retire? 0:33 - Option 1 1:52 - Option 2 3:00 - Option 3 3:59 - Option 4 4:50 - Option 5 6:08 - The final verdict

@markmiller3210 4 месяца назад

Please keep in mind 9 states that normally have income taxes (e.g. NY, Pennsylvania) DO NOT tax the traditional TSP as they consider part of your civil servants pension. If you move the TSP money into an IRA at say Vanguard, Fidelity, etc... you will lose this special tax break and will now have to pay state taxes on the money when withdrawn. This is something you should be aware of before you transfer any monies out of the TSP.

@DistrictCapital 4 месяца назад

Great advice Mark. Thank you for sharing! We didn't cover this in the video but it's something we chat to our clients about. Have a great day!

@loistorres2594 3 месяца назад

@paulo5861 8 месяцев назад

I plan on doing the same thing as your husband. In fact I transferred all of my prior retirement accounts before working for the federal government into the TSP to consolidate as well as take advantage of the low management fees. "The retirement gamble" by Frontline give a great explanation of how fees can destroy gains. I lost my defined benefit pension from a catholic hospital due to lawyers management of getting the hospital out of that benefit to it's employees. I also do not like annuities. They are complex contracts that benefit the insurance companies that offer them. (Insurance companies play on fear and greed to sell that product). I plan to start taking RMD's when I reach that age and when I die my wife or our children will get what ever is left over. Thank you for making that video. I felt it was an honest presentation.

@axetrops 5 месяцев назад

I had mine in G fund and that was a big mistake. Then I tried C and S fund and that was increasing my account really nice, but I only put a small percentage to try. Right now, i wish i had put 80% on C fund. I just diversified my account to C, S, I. Im scared cuz no fund in going in since im no longer with Federal. Hopefully my C, S, I mix will pay off.

@DistrictCapital 4 месяца назад

I hope you get some positive returns from it too! Thanks for sharing!

@BrokeAgain 2 месяца назад

G fund is a joke...

@DannyWalker247 19 дней назад

@@BrokeAgain When you get older you just need monthly income and the G fund might be fine then.

@ominous148 23 дня назад

Can i transfer my 457b over to tsp and still be eligible for early retirement?

@DistrictCapital Год назад

What are you going to do with your TSP when you retire?

@benjaminjohnson1693 4 месяца назад

I plan on leaving 25% of the total tax deferred amount in the G Fund and transferring the rest to my IRAs (Roth TSP to Roth IRA, and tax deferred TSP to traditional IRA). Vanguard has lower expense ratios for my stock allocations, but the G Fund is a great cash option and is available only to TSP participants.

@Yette 3 месяца назад

TSP expense ratios used to be the best in the industry 20 years today. Today the TSP fund costs are terrible when compared to equivalent index funds at Fidelity or Vanguard. To stay in TSP due to its "low costs" is to not understand how to compare fees. Its not a good reason to remain in TSP, though there are other reasons

@alrocky 2 месяца назад

C Fund = 0.048 vs 0.030 = VOO S Fund = 0.079 vs 0.060 = VXF F Fund = 0.049 vs 0.030 = BND 2 basis points

@BrokeAgain 2 месяца назад

It is also harder to take the funds off from TSP. Too much paperwork.

@DannyWalker247 19 дней назад

TSP retirement tip #1. Don't talk to any financial advisor about transferring your TSP.

@BrokeAgain 2 месяца назад

So if TSP fund is moved to IRA pre tax... then someday widraw the amount from IRA... tax free everything?

@alrocky 2 месяца назад

No. Withdrawal from traditional IRA is taxable.

@Kep19901 Год назад

What is your husband's age and what allocation does he have? 😊

@DistrictCapital Год назад

Thanks for your question. My husband is 38 and his current allocation is 80% common stock domestic and 20% international.

@Kep19901 Год назад

@District Capital thanks for the response. I'm 70%S/30%C. 32 years old.

@DistrictCapital Год назад

@@Kep19901 awesome! Keep saving and investing as much as you can. It will make such a difference during your retirement.

@johnbelt5204 5 месяцев назад

I'm a US military Vet. We were not eligible for the TSP. The TSP is just for civilian US government workers.

@alrocky 5 месяцев назад

Current US military are eligible for TSP.

@johnbelt5204 5 месяцев назад

Wow, you're correct. Things have changed since I got out 30 years ago. Does the military still get a pension?

@alrocky 5 месяцев назад

@@johnbelt5204 Yes but it's not as generous as yours. New military retirement is called BRS Blended Retirement System which provides TSP match after 2 years of service. Pension multiplier dropped from 2.5 to 2.0 so IICR instead of 50% pension, BRS gets 40%. BRS with 5% TSP match benefits ~85% of service members who don't reach 20 years.

@Lourd-Bab 2 месяца назад

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.