r/ThriftSavingsPlan

Hey gang I’m a USPS postal worker. I’m currently setting up my tsp which plan is good for a 33yr old looking for something that’ll grow long term

I am looking to consolidate my current UBS RMA and traditional IRA to my newer TSP account. My understanding is that this is possible only via rollover *from* the IRA to TSP, within the annual IRS *contribution limits*, and with funds that have resided in the IRA for *at least one year*. Please correct any errors.

My main areas of question are how this may in turn benefit my tax returns. Am I incentivized fully by moving the funds as quickly as allowed (given the balance of the RMA exceeds the annual contribution limit; also given my TSP's generally stronger performance and lack of fees), or are there limitations in respect to my income/etc? Please let me know any thoughts or corrections, or of course any other considerations I should be making.

Stats can be easily skewed, but this is still scary.

Will be implementing a multi-year Roth conversion plan, filling up the 24% tax bracket each year with the conversion(s). I may not know until late in the year how much “room” I have in taxable income before requesting the conversion. How fast is the conversion process? Is this something I can initiate on Dec 26th and have it be completed by the 31st? Is it done online? Thanks!

Currently an E6 at just over 10 years. I didnt start contributing until about 5 years in, and I'm currently putting in 16% with a balance of about 70k.

Im wondering who here has both a TSP and Roth IRA account. Whats the benefit of having one, another, or both. And if I should just focus on maxing my TSP before getting a Roth IRA?

I have been planning to keep my TSP balance where it is, but I recently opened a traditional IRA with Fidelity for tax reasons this past tax season.

I reached out to Fidelity to check whether they offered any cash incentives to rollover my TSP (no). But they did mention that if I moved over $500k, I would have access to a financial planner for one on one consultation.

While I do not want to have them manage my funds, I do worry about me potentially mismanaging them. I have been guilty in the past of trying to time the market (I know. Idiot).

I wonder if it is worthwhile to roll all but a small percentage over to Fidelity just to discuss my plans and goals. If I pick low or zero cost funds, I wouldn’t necessarily pay more than I do with TSP; and I may avoid pitfalls if I can talk to a financial planner here and there.

Anyone do this for this or other compelling reasons? Anyone feel it’s a mistake?

Thanks!

This may have been asked and answered before, but I hit my retirement window in 2032 at 38 years old. Currently I have around 55K in my TSP. If I retire then and get a government civilian job, can I roll my uniformed service TSP into a civilian one or do they have to be separate?

I'm trying to figure out how to best calculate what my target TSP number should be and I'm struggling on how to best gauge my post-retirement income needs. I've read some financial experts saying to base it on 70-85% of your pre-retirement gross income, while others say to base it on 70-80% of your current expenses.

When I calculate using both methods, I get fairly significant differences. I'm also not sure which expenses I should ignore when calculating my current expenses (if any). I have children and they're not cheap and some of their expenses I suspect will be gone were I calculating my expenses ten years from now.

Wondering how most people estimate what they'll need post-retirement, especially from those who are currently in retirement.

How is my rate of return so low if all the funds I have money in are returning so much higher?

I did move from All C to a 50/50 split L2075 and I in March-ish? Did I just stupidly sell at a huge low or something?

https://preview.redd.it/iicr12jxib2h1.png?width=1109&format=png&auto=webp&s=9689d398aa5c0b1a80105250d5d94af72b10e7fe

I will turn 59 1/2 a few months before I retire from my DOD ATC job. Will I be able to access my TSP to help off set the reduced retirement check while waiting for final decision(full retirement check).?

I've been with the federal gov't since I was 18, about 10 years. For 3 of those years I was part time and poor, so never thought to contribute much. I realized I really haven't changed much in my TSP profile at all. I have $65,000 in value, with 5% in the G-Fund, and then an even split between the S and G fund (45 and 50%). How behind am I, and what changes do I need to make to set myself up for a better future?