Handballer's Account Talk

[Handballer]

IFT cob Feb 14 as follows:
S fund 60%
L2020 20%
L fund 20%

Need to start withdrawing TSP money while still above ground. Whats the best deal - monthly payments, annuity, or mixed?

 

[Birchtree]

Gentle monthly payments rolled directly into a Roth IRA. Pay your taxes as you go and let the Roth make money from money and eventually it will all be tax free without any minimum required distribution. I say take it out of TSP gently because you can still make gains that are cost effective.

 

[hotwings]

BT,

Your comment on post #222, "Gentle monthly payments rolled directly into a Roth IRA. " You can only do this if you have earned income in that year, right?

tks

 

[Birchtree]

I believe you can move directly into the Roth IRA as long as the tax is paid. There used to be an income limit to qualify to move money from a traditional IRA to a Roth IRA but that has been changed. If you moved from TSP into a traditional IRA there would be no tax until the time of required minimum distribution in the IRA. Going to the Roth you pay the tax sooner but there is no required minimum distribution and it's much easier to leave money to heirs if so inclined. The benefit of the Roth is than any money earned from investments is tax free. An heir will still have an RMD based on age which can be minimal also and the growth is tax free and the RMD is tax free.

 

[hotwings]

BTW,

Got it...I never thought of that angle.... thanks

 

[Handballer]

Gentle monthly payments rolled directly into a Roth IRA. Pay your taxes as you go and let the Roth make money from money and eventually it will all be tax free without any minimum required distribution. I say take it out of TSP gently because you can still make gains that are cost effective.[/QUOTE

Birchtree, hotwings - Thanks for your thoughts. I decided to go with monthly payments only. Seems easier to track and I like to stay on the tracker for another 30 years. I'm not concerned with taxes -someone has to pay them. Going Roth may be too complemented for me.

I faxed my TSP Form 70 today. I don't need the money but they tell me I gotta take it.

 

[Handballer]

I'm on a roll now. Back into the group of 4hundreds.

 

[Handballer]

I had as good a day as others in the S fund today but I degress to #490 on the big board.

 

[nnuut]

Every little bit helps, tomorrow the "S" may be ahead Ya never know.

 

[Handballer]

Twice this week I was in the 5hundreds on the tracker. Now I'm back to where I should be at #495 with 2.07%. If I can get back up to my previous high (3.08%) too weeks ago thin I'll ease back to holding hand that provides better sleep. I'm retired now and unemployed so can't lose a lot.

Looking at my TSP Annual Account Summary for 2008 shows I lost 3.31%

Hope all of us finish the month with satifcation.

 

[Handballer]

For the week ending March 11th, I am in the top 550 on the tracker. Its nice to be grouped with the leaders.

 

[Handballer]

Currently there are 182 active users (29 members and 153 guests).

COB Thursday 17th day of March:
70% G fund
30% F fund
I'm sweating another loss Thursday. Still in the top group of 550.

 

[Handballer]

As much as I would like to submit a IFT today, the next day or two may be a better (if market runs downhill early on). The F fund really stinks.

 

[Handballer]

COB Tuesday March 22nd:
C fund 25%
S fund 30%
I fund 20%
L fund 20
L2020 5%
I see six of the top 25 on tracker are still holding 100% G fund. I'm still in the top 700.

 

[Handballer]

I don't have anything to brag about (yet). Here are my results from last week:

Started the week down 0.05%. Ended with gain of 1.69%.
Still holding CSI, L, and L20.

First IFT may be tommorow, or another day this week.

Good luck one and all.

 

[Handballer]

#523 on the tracker. Gain of 1.11% for now. Still holding CSI, L, and L20.
Looking to make my first IFT this month on Tuesday, or Wednesday or......

 

[Handballer]

Close of business today 100% S fund. I was surprised how fast the transaction was processed today.

 

[Handballer]

COB Thursday April 21:
G fund 76%
C fund 10%
S fund 5%
I fund 2%
L fund 5%
L2020 1%
L2030 1%

Playing it safe like I'm retired.

 

[Handballer]

COB Thursday April 28th:

G fund decreased to 73%
CSI funds increased 1% each.

Playing it safe like I'm retired.

 

[Handballer]

#499 on the tracker. Gain of 3.30% for the year. I know - it sucks!
Still holding CSI, L, L2020, and L2030.
Looking to make my first IFT this month.

Goodnight all.