Sun Tzu, modern times:
1. Never negotiate with yourself.
2. Take the high ground, make the enemy come to you. When he reaches you, you will be refreshed, and he will be exausted from the long march.
I just reread the faq on the tsp.gov site and saw something I hadn't before ...
The TSP is going to count a move to the G fund as a part of your 2 move limit. So, within a month, if I were to move from the G to the S and then back to the G ... that's my two moves for the month. Or, I can move from the G to the S and then to the I, and that's my two moves (but I can still move to the G fund if I get nervous).
What a rip-off. That's an even more serious limitation than what they were allowing before daily valuation.
To get to the light at the end of the tunnel, you have to be willing to face the train.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
I never thought of this. Alot of us who do trade often times do put all our money in one fund so it isn't a big deal to us. Now to force everybody to have to do that if they want to make an ift isn't right either. Or is this off track? I have only heard if you want to transfer from S to G that is one for the month. I haven't heard if you want to transfer from C/S/I to F/G that it counts as one.#1,274 Dec 11, 2007, Frank Allds, Wisconsin
Your new plan would force tsp shareholders to buy in all at once instead of averaging into a particular fund. This is dangerous and unfair.
Proverbs 27:12 - A sensible man watches for problems ahead and prepares to meet them. The simpleton never looks, and suffers the consequences.
December coming up to the half way point.....No one got the letter yet? Tom should give a prize for 1st letter posted. I think after the uproar this is causing TSP may be rewording it to cover their a$$.
"Nah man. I'm pretty @#$%^& far from OK."---??????
The problem with that theory is that if you bail out because the market is going down, you are locked into G until the next month. Should the market go down 15% in one month (which can happen), and then you bail, on say, the third of the month, you are prevented from catching any of the rebound until the next month.
Provided that they are talking calendar month. They haven't said yet whether they intend calendar month, or 30-day period.
It almost assures that ANYONE who trades will locked with a much bigger loss, than had they not traded at all. The only way you can move in a down market is to the sidelines, but cannot come back.
I'm speculating that one DAY'S worth of transfers will be considered 1 transfer. I.e., 50S, 50I to 25G, 25F, 25S, 25I on the same day would be considered 1 transfer. Unlike a 'trade' where you would be charged for selling 50S (1 comission), 50I (1 comission), and buying 25G, (1 comission), 25F (1 comission) 25S, (1 comission), 25I (1 comission). 6 comissions ttl.
Received this response from one of my Senators today.
Dear Mr. Chesnut:
Thank you for contacting me regarding the recent Federal Retirement Thrift Investment Board decision on inter-fund transfers with in Thrift Savings Plans. I appreciate your comments and am glad to have the opportunity to respond.
As you know, the Thrift Savings Plan is a retirement savings vehicle for civilians who are, or previously were, employed by the United States Government and for members of the uniformed services. The Thrift Savings Plan was designed to resemble a 401(k) with a limited number of low-fee savings options. The Federal Retirement Thrift Investment Board is the independent Government agency responsible for managing the Thrift Savings Plan. I understand your frustration regarding the board's decision to impose new restrictions on inter-fund transfers. Currently, there is no legislation regarding this specific issue. Should such legislation come before me in the Senate, I will be sure to keep your concerns in mind.
Thank you again for contacting me. Please visit my webpage at http://isakson.senate.gov for more information on the issues important to you and to sign up for my e-newsletter.
Sincerely,
Johnny Isakson
United States Senator
For future correspondence with my office, please visit my web site at
http://isakson.senate.gov/contact.cfm
well, at least he's honest in saying that their is no legislation.
Perhaps when the Thrift Board wants to submit legislative changes to allow for the "L" funds rather than the "G' fund as being the default fund (Which I personally support), we'll attempt to tack on in conference a requirement that all trades be free and unlimited, and we'll make that a contingent item and change in law.
I'm not talking about NEW money, I know I can place that elsewhere.
I'm talking about the money I have been investing and growing for the last 16 years. THAT's the money, now locked up in TSP, that I cannot move out of TSP unless I seperate from my job.
Which may not be a bad alternative. Quit, move the TSP, then get rehired. Risky, and not easy to do, but then again, perhaps I can find a sympathic manager somewhere....
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