TSP/401/Roth...what to do???

[jeburnside]

I'm debating what I should do with my TSP when I retire from the Navy in 7 mos. I'm leaning towards leaving it where it is and continue following the advice and continue to make money on it. The other option is roll it into a 401 or Roth. I think if I keep it in TSP I can control the outcome of it better than putting it in a 401 or Roth. I guess I'm looking for suggestions. I'm 42, married, 2 small kids...if that helps.....

Any advice would be appreciated.

Jimmy

 

[dell]

Jimmy: If your objective is to have a more active role in managing your retirement money, TSP is the way to go. This is what I did when I retired because I enjoy controlling my own money. There is satisfaction in arming yourself with all the information/education you can get and pulling the trigger yourself

However, there are a number of benefits to investing in a vehicle that is well managed by professionals who do this for a living but there is never a guarantee. Professionals get caught off their guard also.

If you have the discipline to educate yourself and the stomach for the inevitable market swings and the fact you will sometimes be wrong, go with managing your own money (IMHO).

Good Luck and congratulations on retirement.

Dell

 

[tspforretirement]

I'm debating what I should do with my TSP when I retire from the Navy in 7 mos. I'm leaning towards leaving it where it is and continue following the advice and continue to make money on it. The other option is roll it into a 401 or Roth. I think if I keep it in TSP I can control the outcome of it better than putting it in a 401 or Roth. I guess I'm looking for suggestions. I'm 42, married, 2 small kids...if that helps.....

Any advice would be appreciated.

Jimmy

Hi Jimmy,

It is not an easy decision, it is YOUR money, YOU made it, and what you do with, YOU also suffer the consequences or make the big bucks.

Personally, I'm very aggressive when it comes to the savings of my income. The investment part is a different story, BUT, I will gamble on it, and only because I do have a "guaranteed" retirement, ie, military retirement. (Note for all of you in the military - I know it's not "guaranteed", therefore the quotes).

I would recommend this:

Since you are not talking about "cashing it in" do you need the monies in the TSP? Now?

Why would you want to move the monies from the TSP? Better higher gain? Gains/Losses if you didn't keep it longer?

Can you and your spouse/children live without the TSP technicals? Loans/better gains? Education?

You put your hard earned monies into the TSP...


None of the above is a recommendations, but hopefully something to think about.


Hooah!

tspforretirement