Re: Retired guy needs some advice with rollover to ira.
Originally Posted by
FatMan
Ok, I am hoping someone out there has already crossed this bridge. Please lend your knowledge. I want to pull all my money out of tsp because I want access to it as I see fit. I am about to be 60 and will move when I find out the best method to do so.
Who out there is currently reitred, over age 59.5 and has moved there tsp money to a vanguard, schwalb, fidelity, etc... account (ira and/or money market) and heres the big one, using a fund that is very simuar to the G,F,C,S or I fund, AND DO NOT have trading restrictions( vanguard c & S fund look alikes have a 60 day trading restriction) that make it impossible to trade as I do ( move 100% twice a month if I want)!!!!
Yes I am asking alot, but why not, its my money!!! Thanks in advance.. Merry Christmas!!
Merry Christmas, fatman, and welcome! It sounds like you're wanting to put your rollout tsp $ into index mutual funds. mutual fund families like vanguard, schwab, etc generally do put limits on how often you can move your money in and out of a fund, unless you want to pay a 2% penalty for moving faster than that. I know, frustrating, even worse than tsp, tho tsp used to be almost exactly that way when I was first starting out. I know about the mutual fund frustration because I already have a couple small creaky IRAs from my early career days. and yes, they will let me move more than once every 60 days, but only if I pay 2% for any such frequent move. IRA mutual fund companies are bound by legalities, some of them are bound by court litigation and rulings against them from years ago, for letting big dogs play too fast and furious behind the scenes while the little retail mom and pop ira holders in the same funds didn't know and couldn't play.
Sounds like what you are looking for are passively managed index etfs. trade like stocks, traded often like stocks, traders trade them. example "SPY" is the passively-managed EFT equivalent of C. You can buy ETFs at any brokerage, but depending on whether they are ETFs that brokerage house created, or if they are equivalent ETFs with a different name/ticker, created by some other outfit, the brokerage you roll into may charge you a commission each and every time you make one of those 2x/month trades with one of your ETFs. that would add up too.
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
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