Maricar19 Account Talk

Which TSP option/s did or will you choose upon Retirement?

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These posts are inspiring and did make me drop to my knees in prayer this morning and it once again shows that you never know the struggles that folks around you are going through. I'm caring for someone with ALS and I don't know a single person that cancer hasn't touched in some way.
 
rangerray said:
These posts are inspiring and did make me drop to my knees in prayer this morning and it once again shows that you never know the struggles that folks around you are going through. I'm caring for someone with ALS and I don't know a single person that cancer hasn't touched in some way.
Click to expand...

They are truly inspiring. To have the disease or care for somebody afflicted with ALS and cancer is no easy feat.
My brother in law was diagnosed with Parkinson's Disease in his mid 60's.
It was heartbreaking to see someone full of vitality slowly deteriorate.
It was tough to see his wife tend to his needs 24 hours, 7 days a week.
Before my spouse had his injury, he would go to California every year for a month to give her a chance to breathe and visit her children and grandchildren.
Fortunately, the daughter found a nursing home/assisted living where they can stay together.

I salute nnuut, nasa1974, Ravensfan, rangerray and everybody going through these difficult times.
I don't know how you do it - day in, day out.
Praying that you and your family members be blessed with strength, physical and mental, in your everyday lives.
Keep the faith.
 
Hearing your life experiences are inspiring because even with the difficulties and struggles faced, the love and caring each of you give to your families shines through. God's hand is always guiding us and gracing us with strength in the hardest times. May God continue blessing you and your families.

We are so fortunate to have each other as friends too! Best wishes to you all. :smile:
 
How much more can I take?:17::smashfreakB:

Maricar19 said:
[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]09/01 thru 09/14[/TD]
[TD]-$7632[/TD]
[/TR]
[/TABLE]


Best Month So Far
[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]April[/TD]
[TD]$14,156[/TD]
[/TR]
[/TABLE]
Click to expand...
 
Is that your taxable/trading account? A lot of dividend stocks got killed today because of the new tax increases Democrats are hoping to pass.
 
Maricar19 here are my numbers so far.

[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]YTD[/TD]
[TD]$39,466.42[/TD]
[/TR]
[TR]
[TD]Sep 01-14[/TD]
[TD]$8,423.79[/TD]
[/TR]
[/TABLE]



Best Month So Far
[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]February[/TD]
[TD]$15,750.67[/TD]
[/TR]
[/TABLE]



Worst Month So Far is September
 
nasa1974 said:
..."Worst Month So Far is September"
Click to expand...

Definitely agree. September is turning out to be a bear. But then it's not over until the fat lady sings.

Remember the month of May? I thought it will never end. EOM May, I still recouped some and ended positive.
[TABLE="class: grid, width: 150, align: left"]
[TR]
[TD]$(1464.03)[/TD]
[TD]05/10[/TD]
[/TR]
[TR]
[TD]$(10997.46)[/TD]
[TD]05/12[/TD]
[/TR]
[TR]
[TD]$(7941.34)[/TD]
[TD]5/13[/TD]
[/TR]
[TR]
[TD]$(1881.10)[/TD]
[TD]5/14[/TD]
[/TR]
[TR]
[TD]$(5419.95)[/TD]
[TD]5/19[/TD]
[/TR]
[TR]
[TD]$(1831.98)[/TD]
[TD]5/21[/TD]
[/TR]
[/TABLE]
 
Very, very slight dent ...FWIW - Thank you S Fund
[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]09/01-09/16[/TD]
[TD]-$2386[/TD]
[/TR]
[/TABLE]


Best Month So Far
[TABLE="class: grid, width: 200, align: left"]
[TR]
[TD]April[/TD]
[TD]$14,156[/TD]
[/TR]
[/TABLE]
 
flalaw97 said:
According to TSP-775 (10/2020) both traditional and Roth TSP are subject to RMDs. https://www.tsp.gov/publications/tsp-775.pdf
Click to expand...

It seem like the easiest way to deal with it until they change their requirement is to transfer any Roth to outside institution. But another option would be to withdraw at least the RMD calculated amount from your traditional during the year so the pro-rata formula will never be used. It really depends on how much Roth vs Traditional you have in the account as to whether or not this would be.a realistic option. Basically you take your year end balance and divide by the age factor to determine how much you need to withdraw (which would include total balance of Traditional + Roth). You would end up taking out more than what should be required each year but your Roth would not be touched.
https://www.tsp.gov/bulletins/19-6/ "The FRTIB has made the following changes related to post-separation/beneficiary participant withdrawals:. .

  • Participants are able to choose whether their payments come from their Roth balance only, their traditional balance only, or pro rata from both."
The old TSP 70 has a section where you could actually transfer the Roth portion of your withdrawal too a Roth IRA (when everything was done proportionally). I think eventually they will have to change the rule if they want people to stay with TSP. Same with conversions, but. based on what contact I have had in dealing with TSP, I'm not sure they are equipped to handle that.
Happy Trails :)

 
Since TSP Roth has an RMD and Roth IRA has none, I decided to transfer all my TSP Roth to an existing Roth IRA.
Both accounts are past the 5 year holding period and have a comparable expense ratio of .03%-.05%.
Took me 2 hours to search for the Direct Rollover form from TSP website and still cannot find it.
I decided to call the Thriftline and got a low voiced rep who won't even attempt to speak louder to accomodate a hard of hearing senior even after multiple requests.

Anyways, she told me to log on to my account and choose Withdrawals, etc...
You can only access Form 99 thru your account.
1. Completed the form, etc., but it needs to be notarized with spouse's signature.
2. After notarization, it must be completed by the receiving brokerage.
3. And then upload or mail it to TSP.

With so much process for a Direct Rollover/Transfer, I am thinking of just withdrawing it and sending a check to my brokerage.
Withdrawal is tax free - I am already a Senior and past the 5 yr, so what adverse consequence/s will I be dealing with if I do this?
Comments?
 
For the Roth money, as long as you deposit it within 60 days, I don't see that there would be any negative impact. It will show up on your 1099-R as a distribution, you should also get another 1099-R from the brokerage showing the rollover. Tax software should walk you though the necessary questions. A direct transfer is a little easier at tax time because everything should be coded correctly.

I don't know what the process is for just withdrawing the money, but I think you may need to go through same process of notarizing the document.

Suggest you talk to your brokerage first. They may be able to notarize the form and send it in for you.
 
evilanne,

Thanks. I finally got through with my brokerage. They told me if I do indirect transfer/rollover, I can only do it 1x every 12 months.
It is a little cumbersome to do a direct transfer/rollover -First, I need it to be notarized (spouse and my signatures), and then mail it to the brokerage for certification/accuracy/acceptance.
Wait for it to come back and then upload/mail to TSP.

I guess it's worth it at age 72 when I don't have to worry about a Roth RMD. $$ will accumulate more.
 
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