weatherweenie's account talk

Sort by newest Sort by date
nasa1974 said:
Actually I haven't paid too much attention to the draft. Since Joe Thomas retired we really need a good left tackle. My guess is they will pick the best player available at the #10. The local stations think they will trade the 10 spot.
Click to expand...

Yeah my ravens are in the same boat with Right Guard Marshall Yanda retiring at the end of the 2019 season, but we also have a need at inside linebacker and there are questions at center. So for us at 28, do we trade back for more picks, go o-line or defense??? We'll soon find out. :D
 
Unless there was something deleted, I thought it was a respectful discussion.

tsptalk said:
Most of you are doing a good job of discussing the issues, but I can see some still want to attack others who disagree.

I am going to start giving one week bans to those who can't stick to the topic and continue to make personal attacks.

Some of you older members knows how poisonous this can get and I won't let it go that far again.

This is your 2nd warning!

Try to moderate this thread if you don't mind, ww. Thanks.

No personal attacks. Stick to the issues.

Here's an example of what's OK:

"I disagree with that and here's why"

What's not OK:

"You liberal / republican idiologs are braindead and do whatever your party tells you."

Got it?
Click to expand...
 
H/T to William Chip Eveland for this one on answering anyone who questions wearing a mask to avoid spreading COVID-19: ● I want you to know that I am educated enough to know that I could be asymptomatic and still give you the virus.● No, I don’t “live in fear” of the virus; I just want to be part of the solution, not the problem.● I don’t feel like the “government is controlling me;” I feel like I’m being a contributing adult to society and I want to teach others the same.● The world doesn’t revolve around me. It’s not all about me and my comfort.● If we all could live with other people's consideration in mind, this whole world would be a much better place.● Wearing a mask doesn’t make me weak, scared, stupid, or even “controlled.” It makes me considerate.● When you think about how you look, how uncomfortable it is, or what others think of you, just imagine someone close to you - a child, a father, a mother, grandparent, aunt, or uncle - choking on a respirator , alone without you or any family member allowed at bedside.● Ask yourself if you could have sucked it up a little for them.
 
Another reason to 'love', sarcasm, the constraints of the TSP program. I submitted a sell order yesterday, when the market was solidly up. At the end of the day, when the order was made, the indices were down almost one percent.

I am thinking more and more about moving my money out of the TSP after I retire.
 
weatherweenie said:
Another reason to 'love', sarcasm, the constraints of the TSP program. I submitted a sell order yesterday, when the market was solidly up. At the end of the day, when the order was made, the indices were down almost one percent.

I am thinking more and more about moving my money out of the TSP after I retire.
Click to expand...

Me too, as soon as I can be assured that I won't be affected by 10% early withdrawal tax.
 
That was in response to rangerray and weatherweenie who said they wanted to move money out of TSP without the penalty. I think that if you pull the $100K under the act and then immediately put it back in a 401K outside of TSP there are no pnealties, no taxes. They expressed the desire to move funds out of TSP to a fund that they have more control over so I am assuming they are talking about another retirement fund that wouldn't limit the trading within the fund.
 
flalaw97 said:
That was in response to rangerray and weatherweenie who said they wanted to move money out of TSP without the penalty. I think that if you pull the $100K under the act and then immediately put it back in a 401K outside of TSP there are no pnealties, no taxes. They expressed the desire to move funds out of TSP to a fund that they have more control over so I am assuming they are talking about another retirement fund that wouldn't limit the trading within the fund.
Click to expand...


Correct me if I'm wrong, but I think you can roll over your TSP funds into another retirement account at any time without a tax penalty. My issue will be getting regular monthly disbursement of funds prior to being 59 1/2 years old. I will, most likely, start pulling some funds from my account immediately after I retire at age 56.
 
rangerray said:
Correct me if I'm wrong, but I think you can roll over your TSP funds into another retirement account at any time without a tax penalty. My issue will be getting regular monthly disbursement of funds prior to being 59 1/2 years old. I will, most likely, start pulling some funds from my account immediately after I retire at age 56.
Click to expand...

I think only "eligible distributions" can be rolled over. If you are under 59.5 that is limited I believe:

From TSP website: What TSP distributions are considered “eligiblerollover distributions”?The following TSP distributions are eligible rolloverdistributions:
• A single payment of part or all of an account after theparticipant separates from service
• All automatic cashouts (i.e., payouts of accounts thatcontain less than $200)
• Equal installment payments expected to be paid out inless than 10 years (unless payments are computed usingthe IRS life expectancy table)
• Amounts paid to a participant after the completewithdrawal of a TSP account (e.g., a late contributionto a participant’s account)
• An age-based in-service withdrawal
• Death benefits paid to the spouse
• Death benefits paid to a nonspouse provided thenonspouse requests a transfer to an inherited IRAdescribed in IRC § 402(c)(11)
• Amounts paid to a current or former spouse under aqualifying court order or legal process

But I could be missing something
 
rangerray said:
Correct me if I'm wrong, but I think you can roll over your TSP funds into another retirement account at any time without a tax penalty. My issue will be getting regular monthly disbursement of funds prior to being 59 1/2 years old. I will, most likely, start pulling some funds from my account immediately after I retire at age 56.
Click to expand...

Look into a 72(T) Distribution. I think that is the ONLY way to pull money out of either TSP, a 401(k), or a Traditional IRA before the age of 59 1/2 without penalty.

BTW, you cannot put a lump sum into TSP or a 401(k). I know that when you quit one job and go to another you can have your retirement assets transferred into the new entities retirement vehicle. You never want to touch any of it, it should be a transfer from one retirement system to the other - do not cash out. Likewise, you cannot lump sum an IRA. You can quit your job and then have those assets moved to an IRA. If you do that, it does not change the fact that you cannot withdraw assets without penalty till age 59 1/2 - excepting a 72(T). I am just starting to look at the 72(T) option - so I am not certain about what it allows.
 
There are a few exceptions for Feds. The rules are different for Federal ATCS, LEO and Firefighters. There may be more exceptions. ATCS forced out at 56. No penalty for 1 time withdrawal of TSP funds and I think they have loosened the rules even more than that.
 
It happened, again. I thought I submitted an IFT, and didn't. This time, I wanted to move 100% to the G fund, cob on Friday. Instead, I am doing that today/Monday.
 
You must log in or register to reply here.

Similar threads

TommyIV
July Contest In Progress
Replies
5
Views
2K
TommyIV
TommyIV
TommyIV
August Contest In Progress
Replies
5
Views
2K
TommyIV
TommyIV
TommyIV
  • Article Article
TSP Talk Weekly Wrap Up - Who Bought the Dip?
Replies
0
Views
4K
TommyIV
TommyIV
TommyIV
  • Article Article
TSP Talk Weekly Wrap Up
Replies
0
Views
15
TommyIV
TommyIV
TommyIV
  • Article Article
TSP Talk AutoTracker - Up 14% for November and Clinging to the S-fund
Replies
0
Views
290
TommyIV
TommyIV
Back
Top