PETITION TO INCREASE # of IFT's

[tsptalk]

Not really. $7 a trade so $14 total to get in and out. I'll gladly pay $14 to make $5k.

Fidelity just lowered their commissions to $4.95. I assume others will follow.

https://www.fidelity.com/trading/commissions-margin-rates


And of course robinhood.com is free.

 

[rktect1]

Me too. I left $50K in there just so I'd still have a TSP account, but most went to an IRA. No regrets either.

By the way, I'm not sure if you know but that 3 day settlement just means you can't sell anything you bought with your prior sale before the 3 days.

Example:

Sell $1000 worth of ABC.

Buy $1000 worth of XYZ that same day (allowed).

Can't sell XYZ until the 3rd day.

I very much want to pull all my tsp money out and put it into my Vanguard account but I am worried about what that might cost me. If I move it directly into a roth IRA, I suppose then maybe nothing right?

 

[Itchn2retire]

Are you losing much on the commissions and bid/ask spread by making frequent trades using ETF's?

Not really. $7 a trade so $14 total to get in and out. I'll gladly pay $14 to make $5k.

 

[Skorcher]

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

(I still signed the petition)

Are you losing much on the commissions and bid/ask spread by making frequent trades using ETF's?

 

[Itchn2retire]

By the way, I'm not sure if you know but that 3 day settlement just means you can't sell anything you bought with your prior sale before the 3 days.

Yes I'm aware. I just don't want to get in a habit of using unsettled funds in the event I miscalculate an entry and would like to get out. I do have one trade where I would have no issue using unsettled funds as I know I'll be holding that ETF for more than three days. Even if I got in too early and price drops after buying in.

 

[tsptalk]

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

Me too. I left $50K in there just so I'd still have a TSP account, but most went to an IRA. No regrets either.

By the way, I'm not sure if you know but that 3 day settlement just means you can't sell anything you bought with your prior sale before the 3 days.

Example:

Sell $1000 worth of ABC.

Buy $1000 worth of XYZ that same day (allowed).

Can't sell XYZ until the 3rd day.

 

[Itchn2retire]

I have transferred my savings out of TSP and into a brokerage account. No regrets here. I can trade all day and the only limitation I have now is waiting the three days for the funds to settle after a sell. It's so much easier to manage my investments than with TSP and I have way more more options to get into a specific area with ETF's.

(I still signed the petition)

 

[James48843]

I really hate to disappoint anyone- BUT- when we did the petition at the time of the changes to the actual rule, we had around 4,000 signatures- and submitted them in accordance with the rules of the actual Federal Register / Administrative Procedures Act.

This petition is not a regulatory petition, and the Whitehouse Site has no legal authority to require any action. Just look at the current state of the Whitehouse Petition to require Trump to make his tax returns public- there are more than a MILLION signatures on that petition, and ...NOTHING.

https://petitions.whitehouse.gov/pe...on-needed-verify-emoluments-clause-compliance

All the Whitehouse.gov petition site is- (as set up by President Obama) is a way to ASK the government to do something- or make a statement related to something, AND there is no legal ramifications if they decide, like they have with the Taxes question- to simply ignore the will of the people.

We don't live in a democracy. Sorry.

 

[burrocrat]

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

i love pygmy geckos! as long as i don't have to eat them more than twice per month.

 

[rreiche]

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

 

[Intrepid_Timer]

For those that don't know, A LOT of company retirement accounts require you to hold a fund for anywhere from 30 to 180 days. I'd hate to have to deal with those restrictions. This is the policy for Mutual of America:

[FONT=Arial, Helvetica, sans-serif]"What Is Frequent Transfer Activity?[/FONT]
[FONT=Arial, Helvetica, sans-serif]Mutual of America generally considers frequent transfer activity to have occurred if any purchase or transfer of approximately $10,000 or more in any investment fund and/or the Interest Accumulation Account under your annuity contract(s) is followed by redemptions of approximately $10,000 or more from that fund within a thirty (30) day period.

It also includes the reverse transaction into the same fund (e.g., redemption of approximately $10,000 or more from any fund, followed within thirty (30) days by a replacement of approximately $10,000 or more, regardless of the source). We monitor transfers in a fund across all of a customer’s annuity contracts. Therefore, a pair of transactions in the same fund is considered a frequent transfer even if each portion involves different annuity contracts."

Would I like a couple of more IFTs per month? Absolutely! However, that is available outside of TSP and nothing is keeping you from opening an account outside of TSP, either a taxable account or not. All you have to do is get off your duff and do it.................. [/FONT]:ban:

 

[tsptalk]

Apathy and ignorance. :aargh4:

 

[rktect1]

Morning update. 2186 signatures.

How is it possible that this is not getting more traction?

 

[Cactus]

Kim Weaver, director for external affairs for the Federal Retirement Thrift Investment Board, on Wednesday said the board does not plan to change the rule. “Nothing that has happened in industry practice or in the TSP has given us reason to revisit the limitation imposed in 2008,” she wrote in an email. “At the end of the day, the TSP is a retirement plan, not a mutual fund.” ..."

Actually, our index funds are mutual funds. You go to sell and you get the share price they determine at the end of the day. It certainly isn't an ETF or stock that you can sell during market hours for a specific asking price.

 

[rreiche]

I just shared this with my cousin-in-law (publicly known as the Picasso of Snap Chat). He has literally more than 500,000 followers. we shall see how that goes.

 

[RazorCat]

I'll give the local Union President a few days, and give him a call back. I still believe getting the word out to the various Union officials is one of the bet ways to reach the largest single group. And they're normally very pro-active if they deem it beneficial to their members.
Have a great weekend everybody.

 

[rreiche]

Morning update. 2186 signatures.

 

[tsptalk]

Thanks FS. This is bringing some of us down memory lane. People like Causey hated us back then so I'm sure he won't help. They are part of the world where big banks and government know better than us stupid little people.

 

[FogSailing]

Just FYI. I forwarded the WH petition and the Gov. Exec article to AFGE HQ's, Mike Causey, and Fed Smith and friends at DOE and asked them to please get the word out to federal staff. No idea if anybody will do anything but at least I tried. 2MorYrs had contacts at NARFE. Perhaps he can get them involved.

FS

 

[tsptalk]

Thanks. Saw that gator. We were talking about it earlier.