Thread: Zebra's Story

Tide couldn't beat LSU at home, they won't beat LSU in the dome. Besides the "honey badger" takes what he wants and he wants the National Championship.

Hey Z

Got a letter from SS last week. Didn't start off very good. One of those "Dear Mr Brooks, we made a mistake." First thing in my mind was huh-oh. Guess back when OPM offered me an extra $50/mo for life if I gave them $500 for my CSRS time back in '67 and I took them up on the offer, it must've added to my SS time. So SS made the adjustment and I get more plus it was retroactive. Oh yeah!!! And boy are we gonna hit the jackpot with that COLA increase. Your wife is right. All this money rolling in while I painted and put up new shelves in my closet; painted a bathroom; and just finished stripping and re-finishing my double 8 ft front doors. And I'm with you. Don't care to go back and see if it would take less time with OPM. lol And back when I was working, I drove over 100 miles r/t every day so usually filled up 2-3 times a week. Now a tank of gas last so long I think I need to add some Stabil to it. Life is good.

PS: What is frost on the windshield? Do you have to get up early to see it?

GEAUX LSU!!!

Hey brookmds, good to here from ya! We too got a letter from SS saying they made a hickup and our December deposit would increase by whatever figure they stated, but it was only a one time good deal.

Everyday is a Saturday (don't say that too much around workers as it pisses them off if they hear it too many times), half the time I don't even know what day it is! I wake up and say, is it deer hunting today or shall we go crappie fishing, or do I need to go shopping? BTW I have picked up some chores to help the wife, but I don't mine at all! She actually stated, "I love having around the house"!

BTW Merry Christmas and Happy New Year!

Roll Tide Roll! Go BAMA!

It's GOOD when it's GOOD Zebra, enjoy! emoticon%20lol.gif

I have a question for the recent folks that have retired. What did you decide to do with your TSP? I know there are a few options. I just haven't decided which way to go.

Originally Posted by nasa1974

I have a question for the recent folks that have retired. What did you decide to do with your TSP? I know there are a few options. I just haven't decided which way to go.

Mines still in there, haven't touch a dime. When I turn 70 1/2 I have to start taking some out Monthly it's mandatory. Saving it as an emergency fund, you never know.

Originally Posted by nnuut

Mines still in there, haven't touch a dime. When I turn 70 1/2 I have to start taking some out Monthly it's mandatory. Saving it as an emergency fund, you never know.

Regarding the requirement to take out starting at 70 1/2......can you take it out by paying the taxes due and rolling it over to a Roth? (seeing as they will be starting up a Roth version around March) And I am not quite sure about the Roth rules for taking out...something like you have to have opened the account 5 years before you take out. Not sure if that means that whenever you put in, you have to wait 5 years to take out....or once you start the fund, 5 years later you can take out whatever you want from the fund, regardless of when you put it in?

Originally Posted by uscfanhawaii

Regarding the requirement to take out starting at 70 1/2......can you take it out by paying the taxes due and rolling it over to a Roth? (seeing as they will be starting up a Roth version around March) And I am not quite sure about the Roth rules for taking out...something like you have to have opened the account 5 years before you take out. Not sure if that means that whenever you put in, you have to wait 5 years to take out....or once you start the fund, 5 years later you can take out whatever you want from the fund, regardless of when you put it in?

Oh! Can retirees get a ROTH?

Originally Posted by nnuut

Oh! Can retirees get a ROTH?

I don't see why not! Of course you cannot add to your TSP if you are not working, but a rollover should be OK. When I did my rollover of my traditional IRA to a Roth IRA, they didn't ask me if I was still working or not.
I guess the real answers to TSP Roth questions will come out when they establish it around March.

Okay, rather than speculate, I went looking for some answers.
See my post at ROTH TSP Education Materials?
where I tag the article at https://www.tsp.gov/PDF/bulletins/10-13.pdf
Looks like retirees will NOT be able to get a Roth TSP because it will NOT allow transfers from the Regular Roth, only contributions.
But there is a one time withdrawal that retirees can make anytime after they retire, and that withdrawal can be made to a Roth IRA (or Traditional IRA of course). See the myfederalretirement article that refers:
http://www.myfederalretirement.com/public/904.cfm
Sorry I took over your thread, Zebra, to talk about Roth TSP. I will take it back to the Roth threads!
Enjoy your retirement! I am looking forward to it in a couple of years!

Thanks but I already did a one time withdrawal so I'm out of luck I guess, But if they make me withdraw and I get the money after taxes can I slip tht money in a ROTH?