Thread: nasa1974's Account Talk

Lots of green today. That's good. But I'm still red for the month. That's bad. But I'm really red for the year. Thats really bad.

Originally Posted by nasa1974

I turn 70 the end of the month and I believe I have until 72 to figure out what to do with my TSP. If true, then I have 2 years to get my money back.

What happens at 72 (other than possibly Required Minimum Distributions)?

Originally Posted by flalaw97

What happens at 72 (other than possibly Required Minimum Distributions)?

I have to decide whether to take the RMD or transfer my TSP to my other 401K that my wife and I had.

Don't you still have to take RMD from the 401k too? I thought the same rules apply to 401Ks.

72 unless Roth account, and in that case you still have to do a conversion and pay taxes.

What types of retirement plans require minimum distributions?

The RMD rules apply to all employer sponsored retirement plans, including profit-sharing plans, 401(k) plans, 403(b) plans, and 457(b) plans. The RMD rules also apply to traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs.

The RMD rules also apply to Roth 401(k) accounts. However, the RMD rules do not apply to Roth IRAs while the owner is alive

.

https://www.irs.gov/retirement-plans...istributions#2

I'm hoping over the next two years to recover my losses and before I turn 72, I'll combine both accounts. Then yes, I will have to take an RMD. To be honest what little bit I am getting from Social Security and my CSRS pension I'm doing ok.

Well yesterday's gain in the "S" fund almost recovered the loss we saw on Tuesday. The first full week of May is what really hurt. The "S" fund almost dropped 12% in that week.

Originally Posted by nasa1974

I'm hoping over the next two years to recover my losses and before I turn 72, I'll combine both accounts. Then yes, I will have to take an RMD. To be honest what little bit I am getting from Social Security and my CSRS pension I'm doing ok.

You know NASA, you might want to look into the concept Bullitt kinda sorta presented.

While the share prices are down (and, thus the market value) you might want to look at moving some of your TSP into a Roth something or other. You will pay taxes on the depressed market value. There might be much happiness

DreamboatAnnie's Account Talk

Looking good! Charts as of a few mins ago. Today's action looks like it will create a higher high and higher low on short term basis. Best wishes to everyone sticking it out during the next week.

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Hope everyone had a safe and enjoyable Memeorial Day weekend.

Now let's hope we hear some good news from the FRTIB.

Reading all the posts about the new system is depressing, but they did say as of the first week in June. Technically that is Monday. So maybe magically Monday morning everything will be just right.
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