Season 2 Episode 6 - "What Should I Do With My TSP?"

Happy Thanksgiving from Amy and Mike!

In this episode, Mike and Amy discuss the options available for managing your Thrift Savings Plan (TSP) after military service. They explore the pros and cons of keeping the TSP versus rolling it into an IRA, including considerations like cost, investment options, legal protections, and beneficiary rules. The conversation emphasizes the importance of understanding personal circumstances and seeking unbiased financial advice.

Chapters
00:00 Thanksgiving Greetings and Listener Inspiration
01:24 Understanding TSP Options After Military Service
08:13 Reasons to Keep Your TSP
11:14 Reasons to Roll Over Your TSP
22:01 Final Thoughts on TSP Decisions

Takeaways
You don't need to make an immediate decision about your TSP.
TSP has historically been a low-cost investment option.
The G fund offers unique benefits not found in other accounts.
Consolidation of accounts can simplify financial management.
Limited investment options in TSP may lead to a desire to roll over funds.
Non-spousal beneficiaries face strict withdrawal timelines from TSP.
Roth conversions can now be done within TSP, simplifying the process.
Legal protections for TSP funds can be beneficial in certain situations.
Consider the implications of beneficiary designations when managing TSP funds.
If unsure, keeping funds in TSP may be the safest option.


Operation Retirement Readiness: www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning....

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.