Page 5 of 12 FirstFirst ... 34567 ... LastLast
Results 49 to 60 of 141

Thread: Elgallo's Retirement story

  1. Default Re: Elgallo's Retirement story

    By the way, make sure you look at the prospectus, it showns the fees that the fund charges. You dont see those seperately, they just lower the earnings. If the fund fee total is 2%. They take 2% and divide it by 365 and charge that amount each day, or divide it by the trading days during a year. Even the regular fidelity funds without using an advisor has much higher fees that the same fund at Vanguard.

  2.  
  3. #50

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,130

    Default Re: Elgallo's Retirement story

    It sounds like it is almost better to leave it in the TSP.
    May the force be with us.

  4.  
  5. #51

    Join Date
    Apr 2010
    Location
    S.W. Florida
    Posts
    1,268

    Default Re: Elgallo's Retirement story

    [QUOTE=roskopfj;350003]Dont invest with a "trusted financial advisor". That just means they get a cut. I invested in fidelity thru an advisor. Instead of the fidelity, they use the fidelity advisor funds. They invest the same as the same fidelity funds except they have lower returns do to fund fees. I was earning approximatly 1% less for each year, and in the years 2008 and 2009 when the market tanked, I lost 1% more. So in stead of a 10% Return I got a 9%, and instead of a 15% loss I got a 16%. I got this just for the advise of putting X amount in 3 funds, and that's it. Most fund companies are the same, I got locked into 6 years,which was up last year. The advisor got approximately 5% of the value of the 401K that I transfered by fidelity. Fidelity got their money back thru the additional 1% for 6 years. If you leave an advisor fund before year one, you owe the 6%, between 1 and 2, you owe 5%, until the 6th year you are free to take it all. its called a 12B-1 Fee. Do yourself a favor, put your money in Vanguard. They have the lowest fees of ANYONE except TSP. Their phone service is great, and you can take your money out anytime without any fees.

    Thanks for your insights...... food for thought!

  6.  
  7. #52

    Default Re: Elgallo's Retirement story

    Quote Originally Posted by roskopfj View Post
    Dont invest with a "trusted financial advisor". That just means they get a cut. I invested in fidelity thru an advisor. Instead of the fidelity, they use the fidelity advisor funds. They invest the same as the same fidelity funds except they have lower returns do to fund fees. I was earning approximatly 1% less for each year, and in the years 2008 and 2009 when the market tanked, I lost 1% more. So in stead of a 10% Return I got a 9%, and instead of a 15% loss I got a 16%. I got this just for the advise of putting X amount in 3 funds, and that's it. Most fund companies are the same, I got locked into 6 years,which was up last year. The advisor got approximately 5% of the value of the 401K that I transfered by fidelity. Fidelity got their money back thru the additional 1% for 6 years. If you leave an advisor fund before year one, you owe the 6%, between 1 and 2, you owe 5%, until the 6th year you are free to take it all. its called a 12B-1 Fee. Do yourself a favor, put your money in Vanguard. They have the lowest fees of ANYONE except TSP. Their phone service is great, and you can take your money out anytime without any fees.
    Some of the local Dallas advisers recommend Schwab and specifically Schwab funds because of their low fees. I have a couple ROTHs for my kids and they pay pennies on each transaction.

  8.  
  9. Default Re: Elgallo's Retirement story

    I agree the tsp has the best fees. If you are happy with the choices, no need to do anything.

  10.  
  11. #54

    Join Date
    Jan 2011
    Location
    El Paso Texas
    Posts
    11,541

    Default Re: Elgallo's Retirement story

    Quote Originally Posted by nasa1974 View Post
    Last year our HR (NSSC) group came in talked with all of us that were planning to retire within the next 12-18 months. We had to set up the meeting so they had most of our information. It was very eye opening. Also I have requested retirement dates for the last three years just to see what the numbers would be. In every one of those requests my 3.5 years of military was included (I paid back my military time a few years ago). So my retirement dollars includes my military time. I was told that I would see 60-80% of my full retirement while I was waiting for OPM to finalize everything. Sure hope it doesn't take to long. Looking to retire sometime between April and June this year.
    I haven't decided if I will keep my TSP when I retire or roll it over to a 401K. What did you guys do?
    Yes your bought back military time does count toward your retirement. What I was saying before is that it doesn't count for your Social Security suppliment. If you retire at 30 years with your military your ratio is 30 -3 1/2 over 40 instead of 30/40. SS offset is payed between 55 and 62 years in the amount that you would get as social security at age 62 times the ratio.
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.


  12.  
  13. #55

    Join Date
    Jan 2011
    Location
    El Paso Texas
    Posts
    11,541

    Default Re: Elgallo's Retirement story

    Quote Originally Posted by Bquat View Post
    Yes your bought back military time does count toward your retirement. What I was saying before is that it doesn't count for your Social Security suppliment. If you retire at 30 years with your military your ratio is 30 -3 1/2 over 40 instead of 30/40. SS offset is payed between 55 and 62 years in the amount that you would get as social security at age 62 times the ratio.
    Aiso I left my money in the TSP and didn't have to pay any penality because it was after I was 55 and I took equal monthly payments. I took 5% one time withdrawl and 95% toward equat monthly payments. I looked at a 85 year chart to see approxmately how much it would be. I then decided to take 5% of my balance divided by 12 as my monthly figure.

    I didn't go for a transfer to an IRA because they only promissed a 5.5% gain with a withdrawl rate at 4.7%. I figure I may roll it over later if interest rates go up to 7%. I'm stuck to this 5% withdrawl rate until I'm 59 1/2 or 5 years which ever is longer. I have not used the TSP annual option to change my monthly amount because I don't know if it would void the 5 year rule. Any way if I still surpass the 5% with gains in my TSP, I can increase my withdrael by 2 1/2% at 62. Another reason I left it in TSP was that you could only leave the annuity to your spouse. If you spouse dies before you, you can still leave the TSP ballance to your children and she could alsoif you go first. I think they now let surviving wife manage the funds within TSP now.
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.

  14.  
  15. #56

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,130

    Default Re: Elgallo's Retirement story

    Quote Originally Posted by Bquat View Post
    Aiso I left my money in the TSP and didn't have to pay any penality because it was after I was 55 and I took equal monthly payments. I took 5% one time withdrawl and 95% toward equat monthly payments. I looked at a 85 year chart to see approxmately how much it would be. I then decided to take 5% of my balance divided by 12 as my monthly figure.

    I didn't go for a transfer to an IRA because they only promissed a 5.5% gain with a withdrawl rate at 4.7%. I figure I may roll it over later if interest rates go up to 7%. I'm stuck to this 5% withdrawl rate until I'm 59 1/2 or 5 years which ever is longer. I have not used the TSP annual option to change my monthly amount because I don't know if it would void the 5 year rule. Any way if I still surpass the 5% with gains in my TSP, I can increase my withdrael by 2 1/2% at 62. Another reason I left it in TSP was that you could only leave the annuity to your spouse. If you spouse dies before you, you can still leave the TSP ballance to your children and she could alsoif you go first. I think they now let surviving wife manage the funds within TSP now.
    Looks like I need to do a little more research before I retire. I'll be 60 when I retire and I was looking at taking a one time withdrawl but not taking a monthly $ amount for a few years. I have some reading to do. Thanks.
    May the force be with us.

  16.  
  17. #57

    Join Date
    Apr 2004
    Location
    36/36 121/56
    Posts
    374

    Default Re: Elgallo's Retirement story

    Well I received my temporary password from OPM and used it to successfully login. I was then able to change the temp PW to my personal one, and that was about it!

    I origionally logged in to implement my CA state income tax witholding which I was informed I could do in the OPM literature. Well after over an hour of chasing my tail, calling OPM 4-5 times (busy everytime), I gave up.

    There was a convieient link on the OPM site to change my FEDERAL witholding, but no similar link for the state! WTF

    Any suggestions?

  18.  
  19. #58

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,130

    Default Re: Elgallo's Retirement story

    Quote Originally Posted by Elgallo View Post
    Well I received my temporary password from OPM and used it to successfully login. I was then able to change the temp PW to my personal one, and that was about it!

    I origionally logged in to implement my CA state income tax witholding which I was informed I could do in the OPM literature. Well after over an hour of chasing my tail, calling OPM 4-5 times (busy everytime), I gave up.

    There was a convieient link on the OPM site to change my FEDERAL witholding, but no similar link for the state! WTF

    Any suggestions?
    So it has taken about 2 months to get this far?
    May the force be with us.

  20.  
  21. #59

    Join Date
    Apr 2004
    Location
    36/36 121/56
    Posts
    374

    Default Re: Elgallo's Retirement story

    YUUUUUUUUUUP!

  22.  
  23. #60

    Join Date
    May 2010
    Location
    Maumelle
    Posts
    48

    Default Bquat - have a question again about your monthly withdrawl

    so..............I did speak to TSP customer service about these monthly payments and I will be 56 when I possibly retire. I am still real not clear on this, Bquat do you still have to pay 20% federal taxes on TSP monthly payments because of being counted as income?

    Everyone is telling me not to touch TSP money if possible, but in my case I need the money now and not necessarily as much in my sixties as I have a daughter who is a junior in high school. Our rental properties will be paid off in a few years also which will be additional income.

    It is really scary retiring, but still waiting on the FERS supplement elimination decision. I can still make a little money when I retire but there is no way in heck I will commit to having to show up to the same place everyday, I've done my time answering to the layer of supervisors, my husband who works in private industry still laughs the government still calls them supervisors..........this is the 21st for gods sake!!!!!!!!!!

    bj

    Quote Originally Posted by Bquat View Post
    Aiso I left my money in the TSP and didn't have to pay any penality because it was after I was 55 and I took equal monthly payments. I took 5% one time withdrawl and 95% toward equat monthly payments. I looked at a 85 year chart to see approxmately how much it would be. I then decided to take 5% of my balance divided by 12 as my monthly figure.

    I didn't go for a transfer to an IRA because they only promissed a 5.5% gain with a withdrawl rate at 4.7%. I figure I may roll it over later if interest rates go up to 7%. I'm stuck to this 5% withdrawl rate until I'm 59 1/2 or 5 years which ever is longer. I have not used the TSP annual option to change my monthly amount because I don't know if it would void the 5 year rule. Any way if I still surpass the 5% with gains in my TSP, I can increase my withdrael by 2 1/2% at 62. Another reason I left it in TSP was that you could only leave the annuity to your spouse. If you spouse dies before you, you can still leave the TSP ballance to your children and she could alsoif you go first. I think they now let surviving wife manage the funds within TSP now.

  24.  
Page 5 of 12 FirstFirst ... 34567 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
S&P500 (C Fund) (delayed)
Elgallo's Retirement story
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
Elgallo's Retirement story
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
Elgallo's Retirement story
(Stockcharts.com Real-time)
BND (F Fund) (delayed)
Elgallo's Retirement story
(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes