Annuity's

[elainjoyce]

Been reading the blogs about after retirement and the tsp. I found that MyFederalRetirement.com helped me to make the decision on what to do with my account. They also list financial advisers, which I contacted from my State. So I am in the process of rolling over part of my account to and annuity called American Equity's Gold Standard. The rest I have 60 days to decide what to do with to defer taxes. I hope I made the right decision. I wanted to preserve my money to make it last and keep it safe. Especially when I put some in the L fund the first of the year and it was going really well until the day the market fell in May. I was out of town during that time so wasn't keeping and eye on it, but that wouldn't have mattered. It was to late and I lost almost $2000 in my account. Been sitting in the G Fund ever since. Still haven't recovered that money yet. So I hope I made the right decision by not using any of the choices tsp provides.

 

[nnuut]

Welcome to the Message Board elainjoyce, I'm in a hurry tonight, You don't have to do that now you can take monthly withdrawals until 70 1/2 years old, stick around the people here are very savvy about this type of thing.
Best of luck
Norman

 

[SkyPilot]

If all you lost was a couple grand, then you probably don't have enough to protect at this point. "Keeping it safe" has inherent risk as you may miss gains you will need to grow the account to the sum you will need at retirement. Inflation is the hidden monster that will eat away at your G / F fund holding.

Over the course of your career, you might consider greater risk early on, and gradually become more conservative as you near the date you will need the cash (not necessarily the date you retire).

Best of luck and fortune

Been reading the blogs about after retirement and the tsp. I found that MyFederalRetirement.com helped me to make the decision on what to do with my account. They also list financial advisers, which I contacted from my State. So I am in the process of rolling over part of my account to and annuity called American Equity's Gold Standard. The rest I have 60 days to decide what to do with to defer taxes. I hope I made the right decision. I wanted to preserve my money to make it last and keep it safe. Especially when I put some in the L fund the first of the year and it was going really well until the day the market fell in May. I was out of town during that time so wasn't keeping and eye on it, but that wouldn't have mattered. It was to late and I lost almost $2000 in my account. Been sitting in the G Fund ever since. Still haven't recovered that money yet. So I hope I made the right decision by not using any of the choices tsp provides.