Leave TSP???

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ExtremeWX

Member
Hello all,
I'm wondering if there is something else out there besides TSP that I can transfer my money into? Since we are restricted to 2 moves per month, this is putting a large handicap on making money in this volitile market.

Is there some type of IRA that I can set up, transfer my TSP into it, and basically day/swing trade it?

If possible, would this be cost effective? Since I'm in the military, I have no TSP matching...

Thanks for any and all advice.
Bryan
 
ExtremeWX said:
Is there some type of IRA that I can set up, transfer my TSP into it, and basically day/swing trade it?

If possible, would this be cost effective? Since I'm in the military, I have no TSP matching...
Click to expand...
The problem is, there are many restrictions on withdrawals without some sort of financial hardship. They won't just let you transfer it.
 
1. Go to the TSP site and click on FORMS and PUBLICATIONS
2. Click the dot for Uniformed Services, if you are.
3. Click on Publications
4. Click Booklets
5. Plenty of info here.
You can't Transfer to an IRA until you leave the service and transfer your money.
There are hardship withdrawals, Student loans (I think) and a one time Age Qualified withdrawal but you have to be 59 1/2 years old.
Might be able to take out a loan but that's only part of your balance.
I hope you can work it out.
Norman
 
Last edited:
I have my IRA with Zecco Trading. They charge about $30 annual fee. 10 free trades per month and the rest are about $7 a trade. Best one around.
 
I'm retired, over age 59 1/2, and trying to figure least costly way to move TSP funds into a Roth, which would requre paying taxes at ordinary income rate on funds transferred. Also having taxes on TSP funds withheld by TSP, seeming perfectly reasonable, is not allowed?? So extra cash is required to get into a Roth.

Alternatively, one can go directly into regular IRA with no front end taxes, but taxes are paid on principal and earnings upon withdrawal.

I wonder if converting most or all of TSP into a regular IRA prohibits you from then moving some of those tax paid funds into a Roth thus saving you from coming up with cash.
 
ExtremeWX said:
Hello all,
I'm wondering if there is something else out there besides TSP that I can transfer my money into? Since we are restricted to 2 moves per month, this is putting a large handicap on making money in this volitile market.

Is there some type of IRA that I can set up, transfer my TSP into it, and basically day/swing trade it?

If possible, would this be cost effective? Since I'm in the military, I have no TSP matching...

Thanks for any and all advice.
Bryan
Click to expand...



WHOA
you better use every minute of that sick and annual leave....burn every bit!!!
you extend service period at full pay...u earn sick and annual while burning leave....& oh yeah the taxes on that final check will kill ya

there is no good financial sense in cashing out 200 plus hrs of al...none!
& sick leave not burned means yer sick in the head...lol
 
Show-me said:
Good to see ya Teckno!!!!:D Read that Jekyll Island piece, good stuff.
Click to expand...


justa drive by 2 say hi...lol

have no idea how i construed this leave tsp into an al issue...lmao

oh well my usual haste .... nfw 2 leave tsp until retirement or ya just quit

don't borrow 50k and try 2 trade it...not while working unless your a ses big shot sitting at a desk with a great secretary doing all yer work ;)
 
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