Re: [TSPStrategy] Rollover to IRA from TSP -

I plan on trying to retire in 2 years. I also plan on removing all my TSP funds, simply because I DO NOT TRUST THE FEDERAL GOVERNMENT.  Especially the current administration.  They spend money like it washes up on our shores every day. 

With a flourish of the pen they can tax/reduce/recollect already invested funds and leave us with no recourse. 

I don't care what the fees are. I'll probably long be dead by the time the money runs out, anyway. Just my opinion.

On Tue, Dec 27, 2022 at 9:59 AM, winfield100 via groups.io

<winfield100=yahoo.com@groups.io> wrote:

what is a polite way to express things here, without saying things worse than shyster

What is the purpose of the TSP?

At least for me it was to grow funds for retirement steadily, not to go to a __CASINO__ to get the thrill of the action, 

each roll of the dice a winner or loser, 

each spin of the roulette wheel the (usually) thrill of defeat

(the house always wins, thats why there are bright lights, cheap food, cheaper drinks to heep the patrons inebriated so they fail to think

The TSP is an ==>>investment<<== for the very long term, my spouse was in for over 30 years it seems

TRADING IS ==>>NOT<<== INVESTING, It's actually "buy high and sell low"

This is a VERY EXPENSIVE LESSON I learned after thinking I was smarter than the Markets and I probably lost between $15 and $25 MILLION if I had just held a few stocks instead of being "smart" and trading.

I owned at one time or another MSFT (split ~298x) (AAPL same) AMER  (became AOL and split) IOM, CSCO, CORL (lotus 123) bunch of other high tech stocks and biotech

hares 

I needed the "action" of the trades, the "Endorphins" hit of the Casino action

IF I had done __NOTHING__ other than just buy and keep those 100 shares of MSFT, AAPL, CSCO from the 1990's, I would have almost 3 BLOCK's of MSFT (a 'Block' of shares is 10,000 shares, so threw away 28,000 shares of MSFT for the Casino action, same with the other ones

TRADING IS ==>>NOT<<== Investing

 and 

_you_ are advocating TRADING, which is anathema to investing

Your comment below reads like you work for a brokerage and want comissions for "trading" other peoples money (OPM) and are hoping on cashing in on naivety 

and bad financial advice pisses me off when it causes them to lose retirement savings

It is NOT "NO COST" when it causes people to lose years or even months of hard won retirement savings for "the thrill of the trade, the endorphin 'hit' to the brain", the addictive 'high' 

On Monday, December 26, 2022 at 01:19:00 PM EST, ShaneBro via groups.io <s.guy75=yahoo.com@groups.io> wrote:

Ummm, I beg to differ.  Via NO Cost to trade vehicles like a major brokerage house Schwab, Fidelity, et al., (I do not own stock in these companies)  you can buy shares in extremally low fee ETFs of the S&P, DWCPF, etc. at or below what TSP charges you.   And stay nimble, move/trade with no monthly restrictions like the TSP. On top of that you can set up account to always have liquid money market cash, (MMC) on hand for RMDs rather than TSP high handed requirement to sell from all your positions even if at a loss.  And the MMC, if invested in Govt  bonds, rivals the hyped G fund in return and safety.  And U can even by FDIC guarantied CDs.  I can buy a one year CD tomorrow and get 4.6%.  That is better than the G fund!  Once you are retired, move out of the TSP ASAP.

On Monday, December 26, 2022 at 12:40:04 PM EST, Del Brett <bretdelman@msn.com> wrote:

Been investing in TSP and lots of other places for years and you won't find a better deal than TSP in the long run for yearly fees and the other side of the TSP fence looks greener at times but its not!   Would dare you to show its better other places with Proof lol not going to happen as no one beats the fees even though people try to say they do.  Lots of new options are opening at TSP not saying they are a better deal.  Nothing is different at TSP when you retire other than you don't add your own money.  You are completely wrong on everything lol.

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From: TSPStrategy@groups.io <TSPStrategy@groups.io> on behalf of ShaneBro via groups.io <s.guy75=yahoo.com@groups.io>
Sent: Thursday, December 22, 2022 8:54 AM
To: TSPStrategy@groups.io <TSPStrategy@groups.io>
Subject: Re: [TSPStrategy] Rollover to IRA from TSP -

 

Once retired, TSP is an inefficient nightmare designed to make your life as complicated as possible.  Its a roach motel with few options and they don't want U to leave and have better opportunities elsewhere.

On Thursday, December 22, 2022 at 09:09:25 AM EST, Mermaid <mermaid99521@gmail.com> wrote:

Looking into moving 401K out of TSP to a self directed IRA and I am surprised of the method of which the money is delivered to the brokerage.... by USPS.  They will not even overnight the check.  Simple USPS from what I am told when I call TSP support.  Has anyone had experience with an in kind rollover to another brokerage.  Thank you.

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