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Thread: FERs Retirees, anyone?

  1. #181

    Default Re: FERs Retirees, anyone?

    Quote Originally Posted by Lindoug View Post
    OK, anyone else feel like me, the more I learn, the less I know & understand?
    I am with you...I read the TSP website every now and then, especially weekends, and still not sure what I read. LOL
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

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  3. #182

    Default Re: FERs Retirees, anyone?

    Quote Originally Posted by uscfanhawaii View Post
    NO!!!
    That is YOUR $$.

    And I would like to add one more advantage to rolling over to an IRA: Tax Diversification.

    You can have 2 separate Traditional and Roth accounts. You can take out from the Traditional, but before you get to a higher tax bracket, you can switch to taking out from the Roth to avoid higher taxes.

    TSP will automatically take equal amounts from both Traditional and Roth.
    Note:just to clarify USC's comment- if you have both traditional tsp and roth tsp, you can only rollover if you have an existing roth ira since distributions will be taken from both. So be sure to have opened a roth IRA before doing a roll over
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

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  5. #183

    Default Re: FERs Retirees, anyone?

    Advantages of a TSP roll over to an IRA (at 59 1/2):
    1. IRA- you can change your withdrawal schedule/amount anytime. TSP has a limit - once a year and must be done at a certain time frame. (I think, October or November)
    2. Real time trading unlike TSP- by 12 noon.
    3. Unlimited Trading- unlike TSP, only 2x a month plus IFTs to G.
    4. More diversification of your investments unlike TSP with only G F S C I and Target funds(Life)
    5. With IRA, you can withdraw any amount of money anytime. TSP allows you only 1 "big" withdrawal.
    6. Tax diversification

    Despite all these rollover advantages, Don't forget the downside...higher expense ratio...
    Updated #6
    Anything else?


    p.s. I noted 59 1/2 because if you retire early, you can start withdrawing with TSP asap, but not IRA.
    Last edited by Maricar19; 06-08-2015 at 09:04 PM.
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  6.  
  7. #184

    Default Re: FERs Retirees, anyone?

    Quote Originally Posted by Cactus View Post
    Here is an article on 3 TSP surprises in retirement that I thought would be appropriate for this thread: 3 Quirks About the TSP in Retirement : FedSmith.com
    Since we are discussing IRA rollovers and/or leaving money in TSP, I thought this is worthy to be bumped. Thanks Cactus
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  8.  
  9. #185

    Default Re: FERs Retirees, anyone?

    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  10.  
  11. #186

    Default Re: FERs Retirees, anyone?

    Costly Social Security Mistakes
    Boost SS for Married Couples
    Strategies Married Couples Can Use to Boost Benefits



    ..." Making informed decisions about what kind of benefit to take -- and when -- can boost your total benefits payout...."

    As FERS retirees, it is important to know when and how to claim your SS Benefits...
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  12.  
  13. #187

    Default Re: FERs Retirees, anyone?

    4 Ways Early Claimers Can Boost Social Security Benefits

    Excerpt from the link above...if you don't have 35 years SS earnings...

    Replace a Zero


    Your Social Security benefit is based on the highest 35 years of earnings in your work history -- including any years of earnings you rack up while taking benefits. The Social Security Administration annually reviews the earnings records ofbeneficiaries who are still working. So if you take your benefit early but continue to work, your benefit will continue to climb if your annual earnings top the earnings of another year.
    If you have, say, only 30 years of earnings and five years in which you had no earnings, a year with any amount of annual earnings would replace one of those zero years -- and that would increase your lifetime monthly benefit amount. For example, a woman who left the workforce for a few years to care for young children could boost her benefit with even a part-time job if those earnings replaced a zero year.
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  14.  
  15. #188

    Default Re: FERs Retirees, anyone?

    Social Security Calculator - when to claim benefits, who should claim first, etc.

    Social Security Benefits Evaluator - T. Rowe Price
    Last edited by Maricar19; 06-14-2015 at 11:55 AM.
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  16.  
  17. #189

    Default Re: FERs Retirees, anyone?

    Say you retire on 12-31-15 and get $25,000 for your accumulated leave in 2016. Does that $25,000 count as social security earnings for 2016 - and thereby give you another year to replace a zero or low wages from 35 years ago? It should since you're paying SS taxes on that $25K.


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  19. #190

    Default Re: FERs Retirees, anyone?

    Quote Originally Posted by Skorcher View Post
    Say you retire on 12-31-15 and get $25,000 for your accumulated leave in 2016. Does that $25,000 count as social security earnings for 2016 - and thereby give you another year to replace a zero or low wages from 35 years ago? It should since you're paying SS taxes on that $25K.
    You got a point there, but let's hear what others will say...
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
    http://share.robinhood.com/mariloc1

  20.  
  21. #191

    Join Date
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    Default Re: FERs Retirees, anyone?

    As far as I know, no.Not salary or wages.

    PO

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  23. #192

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