401k Rollover ideas

[Aireman]

Hey all,

Been a little over 30 days since my retirement and the TSP people sent me my options for my account. Hate the IFT transfer requirements and want to roll over my 401k to a private account. Iv'e had one recommendation for Scott Trade. Any other recommendations? Any one have a negative or positive experience with other investment houses? Fees?

Thanks!

 

[Elgallo]

I intend to roll over mine into a Fidelity account. Make sure you don't have a loan outstanding (I do) or that gets in the way of the transfer until the loan is either paid off by you or you declare the remaining outstanding balance as income. I'm doing the latter.

BTW I understand the transferr to the IRA once started can take as much as a month to accomplish. OH, and get this, they do not use an EFT to move the money. They cut a treasury check and drop in the mail. Now isn't that special.

 

[jimijr]

I transferred mine to RBC Wealth Mgt. The TSP cannot move your funds until thay have received word from OPM you have actually retired. This takes 30 days (good 'ole OPM). Meantime there is a form you can fill out, send to the prople you intend to transfer too, they fill out their end, sign and return. Thirty days after you retire, send this form to the TSP and they will promptly make the transfer.

I am happy I did. On accounts over $250k they charge no annual fees. There are transaction fees but we will not be 'churning' this account. It was farmed out to a couple of money managers within their system, mostly specializing in corporate preferreds, with a chunk of cash left over in case of need on my part.

Like you I grew to dislike the TSP board and system. They hassle us and call it service. At RBC everything is personalized and friendly. In addition the full range of investment options is available, not just indices.

 

[Aireman]

Thanks

 

[ocean]

Hi,

Hope everyone is doing well. It's been a while since my last posting. I too will join as a retiree starting September 16 as I am taking the Base Realignment and Closure (BRAC) - Discontinued Service Retirement (DSR) on 9/15 when Fort Monmouth (Army base) officially closes on that day. I have worked there for over 27 years and feel sad about it that Fort Monmouth has been established in NJ for almost 100 years and now comes to its closure. I have a lot of memories and friends there.

After my retirement, I will spend my time in managing my own portfolio while spending more time with my family. I will transfer most of my TSP balance into my IRA account so I can closely monitor. This IRA account will be mainly concentrated in stocks and ETFs dividend income and for dividend reinvest purpose. Meanwhile I just have to wait for all the paperwork to be processed.

Have a nice day!

Ocean

 

[Dutchy]

Hope everyone is doing well. It's been a while since my last posting. I too will join as a retiree starting September 16 as I am taking the Base Realignment and Closure (BRAC) - Discontinued Service Retirement (DSR) on 9/15 when Fort Monmouth (Army base) officially closes on that day. I have worked there for over 27 years and feel sad about it that Fort Monmouth has been established in NJ for almost 100 years and now comes to its closure. I have a lot of memories and friends there.

After my retirement, I will spend my time in managing my own portfolio while spending more time with my family. I will transfer most of my TSP balance into my IRA account so I can closely monitor. This IRA account will be mainly concentrated in stocks and ETFs dividend income and for dividend reinvest purpose. Meanwhile I just have to wait for all the paperwork to be processed.


Thanks for your service !! And good luck in retirement with managing your portfolio..

 

[Birchtree]

At this point in our market cycle it might be more profitable to transfer your money from TSP in small increments into your IRA. Allow your TSP account to continue to grow while you dollar cost average into your IRA - making money as you progress. You'll have plenty time to manage. This is just a suggestion from a permabull.

 

[Elgallo]

I transferred mine to RBC Wealth Mgt. The TSP cannot move your funds until thay have received word from OPM you have actually retired. This takes 30 days (good 'ole OPM). Meantime there is a form you can fill out, send to the prople you intend to transfer too, they fill out their end, sign and return. Thirty days after you retire, send this form to the TSP and they will promptly make the transfer.

I am happy I did. On accounts over $250k they charge no annual fees. There are transaction fees but we will not be 'churning' this account. It was farmed out to a couple of money managers within their system, mostly specializing in corporate preferreds, with a chunk of cash left over in case of need on my part.

Like you I grew to dislike the TSP board and system. They hassle us and call it service. At RBC everything is personalized and friendly. In addition the full range of investment options is available, not just indices.

Do you recall the TSP Form # you used to set up the transfer?

 

[ocean]

Thanks Dutchy and Birch.

Form TSP-77 will be used for TSP transfer.

Ocean