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MaStA
02-04-2008, 08:45 PM
I figured I would join the MB so I can take part in what's going on around here. I'm stationed at Tinker AFB in Oklahoma City, but will be going to be a recruiter in Flint, MI real soon. Hopefully you all can help me with where my money should go. Ultimately I know it is my decision, but a lot of you probably understand the stock market much better than I do. I guess I will post a thread elsewhere regarding this.

Take care,
Jared

Wildboar53
02-05-2008, 07:21 AM
Welcome to the Message Board .
Tell all your co-workers about this place.
With more people being pro-active about the TSP there could be a chance that Status Quo can be maintained.

camper65
02-05-2008, 07:31 AM
Pleased to have you!

kar_crazy
02-05-2008, 07:37 AM
hey another okie welcome to the M B and G L:D

nnuut
02-05-2008, 08:28 AM
Masta, welcome to the Message Board. Lots of info on the board, but be careful the market is NNUUTS right now. Best of luck.
Norman:D

ezmoney
02-05-2008, 12:12 PM
Masta, you're at the right place some of these guys are hiding behide stacks of money. Ha! Ha! Really there is some great information here just read the mb. Hope you make a pile and add to your stack.:D

MaStA
02-05-2008, 05:56 PM
Well with the way the market went today I think I better move everything to the G fund lol. I'm sick of watching it go up and down so I will just stick with the G fund for now I suppose. I don't have much money in there anyways...but oh well.

tsptalk
02-06-2008, 06:07 PM
Welcome MaSTA!

Show-me
02-06-2008, 07:59 PM
Welcome Jared!

At a minimum get the 5% match if available and max out the Roth IRA. Anything more to invest goes back to the TSP account.

MaStA
02-06-2008, 08:20 PM
Welcome Jared!

At a minimum get the 5% match if available and max out the Roth IRA. Anything more to invest goes back to the TSP account.

Getting confused here...

Military doesn't match TSP like civil service does.

What does a Roth IRA and TSP have in common? Sorry I'm ignorant about a lot dealing with stocks and investments. I thought after you retire you can move it all into an IRA or keep it in TSP.

Thanks,
Jared

Show-me
02-06-2008, 08:33 PM
Don't be sorry, it is a good question!

I am sorry that the civilians that get matching funds and that are in charge of your branch of service are so hypocritical that they have not authorized the military to receive matching funds. IMO, it is wrong.

IMO the 5% in the TSP is not as important as fully funding the Roth which the gains are NOT taxed when you withdrawal them at 59 1/2.

Most financial planners tell you to get the company 401k or TSP company match and then max out the Roth.

Check out this link.

http://www.investopedia.com/articles/retirement/04/091504.asp

MaStA
02-06-2008, 09:10 PM
Don't be sorry, it is a good question!

I am sorry that the civilians that get matching funds and that are in charge of your branch of service are so hypocritical that they have not authorized the military to receive matching funds. IMO, it is wrong.

IMO the 5% in the TSP is not as important as fully funding the Roth which the gains are NOT taxed when you withdrawal them at 59 1/2.

Most financial planners tell you to get the company 401k or TSP company match and then max out the Roth.

Check out this link.

http://www.investopedia.com/articles/retirement/04/091504.asp

Who is a good place to take a Roth IRA out with? I take it IRA's are investments in the stock market as well...? Seems like it from looking at http://www.getrichslowly.org/blog/2007/06/07/how-to-start-a-roth-ira-and-where-to-do-it/

I'm starting to hate the stock market I tell ya lol. I haven't really watched anything in my TSP till recently and I hate how the ups and downs are and I know everyone will say that is just the way it goes, but I don't like my hard earned money going up and down. I'm probably one who will take the long route and simply build interest on it through a money market online savings account. I guess looking into this Roth IRA stuff may not be too bad. Just give me a few places that are a good place to go through with pursuing one. Thanks.

Jared

Show-me
02-06-2008, 09:20 PM
You can start a Roth at about any financial organization, bank, on-line broker, or mutual fund. Just call and ask if you want to do it locally.

T. Rowe Price is recommended by consumer advocate and radio talk show host Clark Howard. Goggle it. They have a family of mutual funds and they have a program that allows you to start a Roth IRA with only $50 a month.

I use Scottrade and have a Traditional IRA with the local yocal bank in the form of a CD. You can get Roth CD's from banks or buy them on a on-line brokerage account like my Scottrade account.

I buy ETF and stocks with my Scottrade Roth, but you can do almost anything. If you want a safe haven position and don't like risk use a CD or some sort of bond fund.

MaStA
02-06-2008, 09:25 PM
You can start a Roth at about any financial organization, bank, on-line broker, or mutual fund. Just call and ask if you want to do it locally.

T. Rowe Price is recommended by consumer advocate and radio talk show host Clark Howard. Goggle it. They have a family of mutual funds and they have a program that allows you to start a Roth IRA with only $50 a month.

I use Scottrade and have a Traditional IRA with the local yocal bank in the form of a CD. You can get Roth CD's from banks or buy them on a on-line brokerage account like my Scottrade account.

I buy ETF and stocks with my Scottrade Roth, but you can do almost anything. If you want a safe haven position and don't like risk use a CD or some sort of bond fund.

Cool cool...wonder how USAA's setup is. I love USAA for everything they have offered and I have used. Not sure how they par up on the investment side of the house though.

Seems like a pretty good deal...wonder if I should continue my TSP and just go the Roth IRA route. Hmm...guess we will see. Thanks for all of your help. I'm sure I will have tons of questions to come. Stay tuned :)

Show-me
02-06-2008, 09:26 PM
I don't know USAA except by their good reputation. Give them a call and ask it they have any Roth options.

Show-me
02-06-2008, 09:29 PM
Now there are limits to the Roth.

Income limits and limits on how much you can contribute. Unless you are a General the income limit is not a problem. The contribution limit is $4000 plus $1000 for 50 years and older catch up for 2007, which can be funded until the income tax deadline. For 2008 it is $5000 plus $1000 for 50 years and older catch up.

MaStA
02-06-2008, 09:39 PM
Now there are limits to the Roth.

Income limits and limits on how much you can contribute. Unless you are a General the income limit is not a problem. The contribution limit is $4000 plus $1000 for 50 years and older catch up for 2007, which can be funded until the income tax deadline. For 2008 it is $5000 plus $1000 for 50 years and older catch up.

Yeah that isn't a problem and USAA has Roth IRA's because I logged in my account and saw several IRA options under Investments. Seems a lot of the "stock" you can choose has USAA in front of it like:

USAA Emerging Markets Fund
USAA Nasdaq-100 Fund
USAA International Fund
USAA S&P 500 Index Fund Reward Shares

Is this just USAA's way of saying I fund, S fund, etc. like TSP does or will I actually see what COMPANY my shares are in?

Thanks a ton!
Jared

Show-me
02-06-2008, 09:45 PM
Yeah that isn't a problem and USAA has Roth IRA's because I logged in my account and saw several IRA options under Investments. Seems a lot of the "stock" you can choose has USAA in front of it like:

USAA Emerging Markets Fund
USAA Nasdaq-100 Fund
USAA International Fund
USAA S&P 500 Index Fund Reward Shares

Is this just USAA's way of saying I fund, S fund, etc. like TSP does or will I actually see what COMPANY my shares are in?

Thanks a ton!
Jared

That is great! They should have a prospectus that breaks it down. You may have to dig for it or call.

You are very welcome! Again, good luck. :D

EW_ret
02-11-2008, 11:46 AM
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