cluster FAWK? LMAO
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Intrepid_Timer's PUBLIC Account Talk
- Thread starter Intrepid_Timer
- Start date
cluster FAWK? LMAO
Intrepid_Timer
Well-known member
Hi safeskies,
If you use the ProFunds family of funds with USAA, they do require the minimum investment of $15000 that is stated here: http://finance.yahoo.com/q/pr?s=UAPIX+Profile
They will also charge a $75 purchase fee.
Scottrade however does not require any minimum investment with these funds and no transaction fees. ProFunds does have a 3pm ET cut off time. Not sure if you knew this or not.
I use both these brokers, among others. I really wish USAA would update their trading platform, very antiquated................
since we're on the IRA topici want some input from you guys. Should i be contributing to TSP and open a Roth or just try and maximize my TSP? i am a military guy so i do not get all the federal benefit of TSP (matching).
Roths are great just watch the fees! Sometimes its not the transactional fees but the ones within the mutual funds themselves. Research and ask lots of questions!
Intrepid_Timer
Well-known member
since we're on the IRA topic
Well, my advice is, and always has been, put 6% into your TSP to get the full matching of 5% and then fully fund a Roth IRA ($5000/year). If you have anything left over, you could put it in TSP also. Or maybe even start an allotment to go into your own self-directed IRA account to take advantage of pre-tax dollars but to also not have all your eggs in one basket. There are just so many more options outside of TSP. Can't beat the matching funds though.
Just my opinion..............
Just saw that you are in the military. Not sure what the matching is with them. Just make sure you get it........
well the question is, is it wise to contribute both TSP AND roth IRA or just try and maxing out TSP
Intrepid_Timer
Well-known member
I believe the fees would be offset by using some of the 2X mutual funds or 3X ETFs. Nice to able to trade after noon ET also.
Well, my advice is, and always has been, put 6% into your TSP to get the full matching of 5% and then fully fund a Roth IRA ($5000/year). If you have anything left over, you could put it in TSP also. Or maybe even start an allotment to go into your own self-directed IRA account to take advantage of pre-tax dollars but to also not have all your eggs in one basket. There are just so many more options outside of TSP. Can't beat the matching funds though.
Just my opinion..............
Just saw that you are in the military. Not sure what the matching is with them. Just make sure you get it........
military dont get matching, go figures we make less then federal employee and yet dont get the benefit of matching
JTH
Well-known member
I won't get into a "My ROTH IRA is better than your ROTH IRA" as I only know mine and have zero experience with others. I will say two things, number one your right, USAA is (or seems to be) a bit out dated with next to nothing for trading tools.
However, if you have a ROTH IRA (not a regular brokerage account) none of those rules you stated apply. I assure you I don't have 15K in my IRA and the minimum mutual fund pruchase amount is 50 bucks.
Intrepid_Timer
Well-known member
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Intrepid_Timer
Well-known member
Hmmm, well I transfered some of my TSP money into a USAA IRA (rollover not Roth) and when I made my initial purchase of ProFunds, they said there was a minimum investment of $15000? So if I try buying with say $5000, they would let the trade go through? And they did charge me $75 too............
coolhand
Well-known member
Actually, you only need to put in 5% to get the full matching contribution from your agency. But that additional 1% won't hurt.
https://www.tsp.gov/planparticipation/eligibility/typesOfContributions.shtml
https://www.tsp.gov/planparticipation/eligibility/typesOfContributions.shtml
WIND_HUNTER
Member
Actually, you only need to put in 5% to get the full matching contribution from your agency. But that additional 1% won't hurt.
https://www.tsp.gov/planparticipation/eligibility/typesOfContributions.shtml
Yes, we get an automatic 1% for being a FERS employee. ...
One other thought, I understand there is supposed to be a Roth option in the TSP in 2011. Could be lower fees than some of the commercial brokerages. Haven't really seen any information about how it is to be structured and what fund options will be available though. Hmmm.
https://www.tsp.gov/PDF/formspubs/oc06-5.pdf
How do expense ratios work exactly? I know that when holding mutual funds long-term, high expense ratios can really eat into your profits. I see Vanguard with really low ratios (.18%), and other ones, specifically the short-term trade fund families, with very high ratios (1.7%). How does this affect the trading strategy when choosing funds with varying expense ratios, or is it not as big a concern since you are expecting such high returns?
Also, how are these expense ratios deducted from your account, especially if the funds are bought and sold numerous times a year?
Thanks!
Also, how are these expense ratios deducted from your account, especially if the funds are bought and sold numerous times a year?
Thanks!
Intrepid_Timer
Well-known member
Actually, you only need to put in 5% to get the full matching contribution from your agency. But that additional 1% won't hurt.
https://www.tsp.gov/planparticipation/eligibility/typesOfContributions.shtml
I stand corrected. Thanks! For some reason I was thinking they matched the first 4% at 100% and then 50% of the next 2%.............
Intrepid_Timer
Well-known member
I don't have the answers to these questions. Since I trade my accounts and don't hold them for long periods, I don't really pay much attention to expense fees.
Perhaps Mr. Birchtree could answer. As long as he doesn't come in preaching about the greatness of buy and holding................
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