Re: [EXTERNAL] Re: [TSP_Strategy] Put contributions in pre-tax or taxed?

 

I don't think they will stay this low either, but a move to NV will more than compensate for a few more percent in federal taxes, especially when you spend your working years in CA. It's nuances like these that make it worthwhile to spend the money for a few hours to talk to a financial advisor or sign up for all the retirement seminars you can. 

On Mon, Apr 22, 2019 at 9:34 PM Gary Reven tweet_pa@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

Just my 2 cents worth. We are currently at the lowest federal tax rate in history.. I do not believe it will stay that way. TSP withdrawals are taxed as ordinary income. Roth withdrawals are tax free but only you can decide what to do.

On Apr 22, 2019 at 7:38 PM, <'Flores, Deborah' dmflores@blm.gov [TSP_Strategy]> wrote:

 

That makes sense. I have about 10 years left to work and my tsp is not where it should be, so I put as much in as possible and want the best outcome. 

On Mon, Apr 22, 2019 at 4:35 PM Thomas Wellock thomas..wellock@gmail.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

Are you in about the 8% income tax bracket in CA? So, the Roth $ you are contributing now are being taxed an additional 8% that you won't have to pay in retirement in NV? 

On Mon, Apr 22, 2019 at 7:15 PM 'Flores, Deborah' dmflores@blm.gov [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

Nevada is the plan for sure. I just wondered if it is worth taking the chance that I will earn more $$ with the pre-tax than what I will be required to pay in taxes after I start drawing my money.... One co-worker said his financial advisor told him to put as much into ROTH as possible. My former boss who just retired said that the tax he has to pay from his retirement is really hurting his bottom line. I feel like it's a gamble. What if my tax bracket is lower in retirement, maybe that will help also. 

On Mon, Apr 22, 2019 at 4:08 PM Thomas Wellock thomas.wellock@gmail....com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

This is a difficult question for anyone in this group to answer without knowing more about your current situation, your expected income in retirement, and where you plan to live in retirement. 

I see you live in Barstow? What are the chances you might move two hours up the road to Las Vegas in retirement, a state with no income tax? 

On Mon, Apr 22, 2019 at 4:51 PM 'Flores, Deborah' dmflores@blm.gov [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

Should I put my TSP $$ in pre-tax or taxed? I have heard differing options on this subject. Right now I only have 3% going into Roth and all the rest into traditional, thoughts?  

--

Deborah Flores

Outdoor Recreation Planner

BLM Barstow Field Office

2601 Barstow Rd

Barstow, CA 92311

P 760-252-6041

F 760-252-6099

dmflores@blm.gov

--

Deborah Flores

Outdoor Recreation Planner

BLM Barstow Field Office

2601 Barstow Rd

Barstow, CA 92311

P 760-252-6041

F 760-252-6099

dmflores@blm.gov

--

Deborah Flores

Outdoor Recreation Planner

BLM Barstow Field Office

2601 Barstow Rd

Barstow, CA 92311

P 760-252-6041

F 760-252-6099

dmflores@blm.gov

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