Dave is correct Del Brett...the TSP, in particular the G Fund I believe, is the funding source of last resort. When the debt limit gets reached and the Treasury Secretary starts talking in terms of "...extraordinary measures..." it means the Treasury Secretary is literally raiding the TSP to fund daily operations.
I had a previous employer who set up a false 401K account, even brought in a local brokerage to sell investing in it to us (no matching which is why I didn't participate but a lot of others did). The money people had been putting in their "401Ks" had just been put in a bank account, the brokerage had never had 401K funds placed with them. The company had even created false statements to make it look like people had money in the brokerage! When the company's Venture Capital funds ran out the false accounts were used to pay the first few people to get to the bank their last paychecks. Out of a company of 95 people only about a dozen got their last paychecks paid. They owed me $10K in pay, vacation, and travel expenses. I rode my motorcycle down the Boulder Pearl Street Pedestrian Mall straight to the bank and was the first one there to cash my check. I stood there and watched people literally come in and get their cash until the teller started telling people the account had been depleted! The CFO ended up wearing Federal Camper Inmate Green. THAT was my final straw which drove me to go to work for the people that print the money!
I doubt we'll ever see Janet bunking with Martha!
As for TSP, when I retire, I plan on pulling all of it out, putting it all in my E-Trade and Schwab IRA and Roth accounts, and investing in a class of high-dividend paying stocks known as BDCs (Business Development Corporations...research them...there are only about 3 dozen of them and they are the best kept investing secret I know of). The fees for ETFs are so high they actually degrade the value of the ETF over time and Mutual Fund returns typically can't compare to BDCs.
If you live in a state like Oregon (I used to...lived in Hillsboro...worked for Mama Tek...hung out at Dr. Feelgood's) just get the hell out after retiring but before withdrawing.
The ONLY reason I'm still investing in the TSP right now is I can put almost 3.5 times more money in my TSP Roth account than I can in a privately managed Roth.
I had a previous employer who set up a false 401K account, even brought in a local brokerage to sell investing in it to us (no matching which is why I didn't participate but a lot of others did). The money people had been putting in their "401Ks" had just been put in a bank account, the brokerage had never had 401K funds placed with them. The company had even created false statements to make it look like people had money in the brokerage! When the company's Venture Capital funds ran out the false accounts were used to pay the first few people to get to the bank their last paychecks. Out of a company of 95 people only about a dozen got their last paychecks paid. They owed me $10K in pay, vacation, and travel expenses. I rode my motorcycle down the Boulder Pearl Street Pedestrian Mall straight to the bank and was the first one there to cash my check. I stood there and watched people literally come in and get their cash until the teller started telling people the account had been depleted! The CFO ended up wearing Federal Camper Inmate Green. THAT was my final straw which drove me to go to work for the people that print the money!
I doubt we'll ever see Janet bunking with Martha!
As for TSP, when I retire, I plan on pulling all of it out, putting it all in my E-Trade and Schwab IRA and Roth accounts, and investing in a class of high-dividend paying stocks known as BDCs (Business Development Corporations...research them...there are only about 3 dozen of them and they are the best kept investing secret I know of). The fees for ETFs are so high they actually degrade the value of the ETF over time and Mutual Fund returns typically can't compare to BDCs.
If you live in a state like Oregon (I used to...lived in Hillsboro...worked for Mama Tek...hung out at Dr. Feelgood's) just get the hell out after retiring but before withdrawing.
The ONLY reason I'm still investing in the TSP right now is I can put almost 3.5 times more money in my TSP Roth account than I can in a privately managed Roth.
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