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Thread: Frixxxx's Account Talk!

  1. #2041

    Join Date
    Feb 2007
    Location
    San Diego, CA
    Posts
    6,999

    Default Re: Frixxxx's Account Talk!

    Does TSP Calculate mandatory withdrawals (after 70 yo) and disburse funds automatically?
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  2.  
  3. #2042

    Default Re: Frixxxx's Account Talk!

    Quote Originally Posted by Frixxxx View Post
    Does TSP Calculate mandatory withdrawals (after 70 yo) and disburse funds automatically?
    I thought you had to request a RMD disbursement or they would consider the account abandoned. That's if you are no longer working for the government.
    Allocations as of COB Dec 28 : 100% S. | Retirement Date:Dec 2025
    Past Returns:
    2020 31.85%,2019 27.97%,2018 -3.36%,2017 13.10%, 2016 -1.79%, 5Yr Avg 12.61%

  4.  
  5. #2043

    Join Date
    Feb 2007
    Location
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    Default Re: Frixxxx's Account Talk!

    Thanx Cactus for the quick response. My wife has become interested in the disposal of my account since her mom is clueless with her retirement efforts.
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position


  6.  
  7. #2044

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,148

    Default Re: Frixxxx's Account Talk!

    Hey Frixxxx it's been awhile since you dusted off your account.
    May the force be with us.

  8.  
  9. #2045

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    Default Re: Frixxxx's Account Talk!

    Quote Originally Posted by nasa1974 View Post
    Hey Frixxxx it's been awhile since you dusted off your account.
    Just watching your wonderful posts, my friend!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  10.  
  11. #2046

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
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    2,993

    Default Re: Frixxxx's Account Talk!

    This might help. https://www.tsp.gov/bulletins/19-6/. Possibly RMD doesn't happen until 72 now and is automatic. Maybe they no longer consider old peoples accounts abandoned? I don't really know but am hoping this is all true as 701/2 is rapidly approaching.

    PO

  12.  
  13. #2047

    Join Date
    Feb 2007
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    San Diego, CA
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    6,999

    Default Re: Frixxxx's Account Talk!

    Millionaire Alert, and maybe a buying tip?

    Secrets of TSP millionaires


    By Mike Causey @mcauseyWFED

    https://federalnewsnetwork.com/mike-...-millionaires/
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  14.  
  15. #2048

    Join Date
    Sep 2006
    Location
    Upstate NY
    Posts
    3,876
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    Default Re: Frixxxx's Account Talk!

    Most have been investing 25 years or more.
    I said somewhere else on this MB that I'm impressed by the 40 year olds with $1M, not the late 50 early 60 year olds. It's not that hard if you've contributed over many years. See chart below. Start at $0, invest $1,000 a month for 30 years, 6% return and you're pretty close. And that's investing next to nothing even if you include the match.

    calc.JPG

    So should we assume this stock market guru is in G fund now since he's pinned an exact date on his next buy opportunity? What is he doing, moving from G to C? Re-balancing his allocation that day?

    Keep your eye on Dec. 11, which is the date Congress and the White House must must reach and agreement to continue federal operations. I will tell all my clients that it is an excellent opportunity to do the same. It is called buying on the dip. I won’t have to stand in any Black Friday line. It will only take a few clicks on the TSP website.
    I hear we all need to watch what happens November 4th.

  16.  
  17. #2049

    Join Date
    Feb 2007
    Location
    San Diego, CA
    Posts
    6,999

    Default Re: Frixxxx's Account Talk!

    Don’t Miss Your Full TSP Match with the New Spillover Provision

    https://www.fedsmith.com/2020/12/02/dont-miss-your-full-tsp-match-with-new-spillover-provision/

    ...
    TSP Spillover Provision Basics

    First, let’s get a few things straight. For everyone that is younger than 50, the annual limit for the amount you can put in your TSP in 2020 is $19,500. If you are age 50 or older, you are able to put in an additional $6,500 for a total of $26,000 in 2020. This additional amount for those 50 and above is called catch up contributions.
    Starting in January 2021, those eligible for catch-up contributions (age 50 and above) will not have to fill out separate elections for regular TSP contributions and catch-up contributions. All you have to do is fill out one election and once you hit the normal limit ($19,500) then any additional contributions will automatically “spillover” and become catch up contributions.

    ....
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  18.  
  19. Default Re: Frixxxx's Account Talk!

    Please double check the age for the start of the catch-up contribution. I believe you can start your catch-up contribution the year you turn 50. Not starting at age 50. For those of us with December birthdays, you can start the catch-up in January after your 49th birthday. Otherwise you may lose a year of catch-up contributions. I’ll be 48 in a couple of weeks so this will really affect me next year.
    Currently 953k, hopefully a Santa Claus rally will put me over the top. Happy Holidays!!

  20.  
  21. #2051

    Join Date
    Feb 2007
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    San Diego, CA
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    6,999

    Default Re: Frixxxx's Account Talk!

    Quote Originally Posted by Radarcontact View Post
    Please double check the age for the start of the catch-up contribution.....
    This is from the article, the form you fill out for roll-overs covers this. But thanks for the information.

    Congrats on your investing success!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

  22.  
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