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Allocations
- Thread starter tate15
- Start date
Welcome tate15! That allocation looks pretty aggressive for someone who is retired, but I'm guessing your TSP is not your main source of retirement income, so that makes a difference.
Please tell us more. Do you get a pension, are you working somewhere now, what are your plans for your TSP account (income, extra cash, etc.) etc.
Thanks for joining us.
Please tell us more. Do you get a pension, are you working somewhere now, what are your plans for your TSP account (income, extra cash, etc.) etc.
Thanks for joining us.
Well, sort of in transition. Have been working part-time only since Aug 08.
11 yrs active duty, 17 guard, reserve ,ima, so i dont get that retired pay until i turn 60, (hoping that will chg to 55!, big diff!) I'll be 48 on 24 Apr 10. I've been dipping in to an IRA, which I can't continue to do, just may be relocating, need to get a full-time job, soon! :embarrest:
JTH
Well-known member
Your still young enough to have an aggressive allocation more heavily weighted in stocks. I'll give you the same advice I should give myself, it's one of those "do as I say not as I do" things. Best advice I have is to learn the ropes around here, and figure out what type of investor you are. But don't get too smart, sometimes it's a bad thing and trading can hurt you more if you trade too much. Quit messing with your IRA, that's going to be a better account for you in the future. If you must have cash, take it from TSP, so you have to pay it back.
PessOptimist
Well-known member
tate15, what is your AFS?
Supply Chain/Logistics......
XL-entLady
Well-known member
You've come to the right place to learn. Welcome!
Steadygain
TSP Elite
Lady -- it's kind of a wild spontaneous thought :nuts:
but you should go to one to the Political Threads just to stir the nest up :laugh:
cause they wouldn't expect it from you.Then log off and just enjoy the evening
Well good night all !!
Tate15,
This may be a little difficult to swallow, but this year could be an incredible opportunity to roll over your TSP account and convert it to a Roth IRA. Your situation appears to be that you have a balance in TSP and you have very little income. When you convert to Roth, you pay income tax on the balance at your current tax rate. You must be in the 15% bracket if not lower. That way, when you are older, you can withdraw the money tax free. Compare this to leaving it in TSP and withdrawing the money when you're older and you have that pension income and some other income, which may bump you up into the 25% tax bracket.
The conversion is best if you can pay for the taxes out of pocket. If you convert this year, and secure a full time job later in the year or next year, you could save up some money to pay for the conversion come tax time 2011.
As for your original question about allocations, your aggressive mix is probably good if you plan to leave it in a long time and draw out the money later in retirement. If you're uncomfortable with the up and down risks, you may want to switch it into a "lifecycle" fund until you have a chance to do more research and decide what you want to do.
This may be a little difficult to swallow, but this year could be an incredible opportunity to roll over your TSP account and convert it to a Roth IRA. Your situation appears to be that you have a balance in TSP and you have very little income. When you convert to Roth, you pay income tax on the balance at your current tax rate. You must be in the 15% bracket if not lower. That way, when you are older, you can withdraw the money tax free. Compare this to leaving it in TSP and withdrawing the money when you're older and you have that pension income and some other income, which may bump you up into the 25% tax bracket.
The conversion is best if you can pay for the taxes out of pocket. If you convert this year, and secure a full time job later in the year or next year, you could save up some money to pay for the conversion come tax time 2011.
As for your original question about allocations, your aggressive mix is probably good if you plan to leave it in a long time and draw out the money later in retirement. If you're uncomfortable with the up and down risks, you may want to switch it into a "lifecycle" fund until you have a chance to do more research and decide what you want to do.
