Personal Finance and Investing

Happy Hoosier

(8,558 posts)

7. I ultimately rolled over my old TSP

Fri Oct 11, 2024, 07:39 AM

Oct 11

My TSP (gubmint employee version of a 401K) has really limited investment options. For some reason, I though it had to stay there, so it HAS just stayed there... for 20 years. It's done okay, but when I mentioned this to my FA, he was like "roll it over to your current 401K, which has much better investment options." I was like "I though I couldn't." I can. So I did. Doing much better here (though the market has been on a tear), but the biggest benefit is just one account to track. Not I need to plan my withdrawala strategy to avoid really big RMD's.

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Highlight:

Changing Jobs Can Put a $300,000 Dent in Retirement Savings - WSJ [View all] question everything Oct 9 OP

The SECURE 2.0 Act mandates auto-escalation for new 401(k) and 403(b) plans starting in 2025 Shermann Oct 9 #1

True, but only as a default Lemonwurst Oct 9 #2

If your old company sends the check to you it can cost a fortune too. True Blue American Oct 9 #3

You have 60 days to get the distribution into a new retirement account. nt Shermann Oct 9 #4

I ultimately rolled over my old TSP Happy Hoosier Oct 11 #7

RMD's are a good problem to have. You want to have that problem. Shermann Oct 11 #8

With 401ks you need to pay attention Joinfortmill Oct 9 #5

When I began in tech, at the early part of the field... slightlv Oct 9 #6