Re: Thrift Savings - Advice, Strategy, Plans? - Page 3

Sooner · ‎03-10-2010

I have 401K plans and such from working and my strategy was to bleed off some to an IRA (or any other non-taxed holding pen that is less volatile than stocks) when the market was doing well.

I wanted to keep my profits and it really paid off for me, avoiding a lot of bear markets along the way. Letting it ride while it was going up to a point, then taking more profits and stashing away.

rockygems123 · ‎06-04-2012

@RetRN wrote:
I would ignore this thread. Joyless should consult an appropriate resource.

@RetRN I think @JoyFilled Warrior has also ignored this thread.

Sage04 · ‎07-10-2011

I love the way @JoyFilled Warrior operates. She starts a Thread and then leaves everyone talking among themselves. According to New Yorkers "she has spunk". I like her.

patbz · ‎03-10-2010

I was in TSP for many years until my retirement. Obviously get advice from a professional but beyond that put as much money into this plan as you possibly can as its a very advantageous investment. I also invested fairly aggressively and kept my father's excellent investment advice as my mantra: "its only a paper loss unless you sell". I've been retired for 17 years and use a financial advisor to keep me abreast to periodic changes in regulations. With tsp and our pensions we are very happy with our financial situation.

JoyFilled Warrior · ‎09-02-2022

Thank y'all folks!

Some wonderful, sage advice here. I'll pursue your advice, as I've been made wiser from much of it.

I'm forced to withdraw a certain % in a matter of months, so something has to be done, PDQ, about a given % amount in the acct.

I've visited numerous Financial Adviser's, of course!

I've found, it's a lot like selecting Attys (which is my lease favorite thing to do in this whole world! Been there, done that). In both cases, you have to virtually know as much as they do, in order to discern their "sound advice," or risk being 5crewed.

One Fin Adv goofed me up so much, I had to hire a Tax Atty to unravel that Financial Advisor's *good advice.* (that I paid for!) And I was able to go back only 3 yrs taxes! That scenario even, after shopping around for that Fin Advisor!

(Nice job, paying someone to play around with *my own* money!)

** Experience & age has taught me, one never knows from where "good advice" comes from! As borne out by the good advice I've received on this QChat Board here! Thank you!

Ya see, even great advice from: ""QChatters" on a message board for advice about what to do with your investments."

Many thanks!!

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB

JoyFilled Warrior · ‎09-02-2022

@LindaLatte wrote:
I agree with the certified financial planner suggestion. When I retired, my financial planner suggested that I leave the money in the TSP. I was not near the 70 1/2 year need to withdraw my IRA (TSP), and he recommended how to allocate the money into the different possible TSP options.

Unfortunately, he passed away before I needed to withdraw the money, and I had found a new financial advisor who suggested that I transfer my thrift savings money into an IRA. I have heard that some who kept it in the TSP (like Allegheny's husband) did better than those of us who transferred the money.

So, your choice of a certified financial planner is very important. They should be thoroughly aware of TSP in addition to other options.

Good luck!

Linda

~~~~~~~~~

Ouch! I hear ya @LindaLatte !

Ya finally find a good one, & *poof.*

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB

SeattleShopper1 · ‎07-25-2013

Hello JoyFilled Warrior

Strongly suggest you get a basic and current book on investing. And. . . you also need to reflect on the kind of investor you are. Are you willing to take risks with your money - where you might lose some of the money. Or are you more comfortable with a safe return on your investment. And, of course, your age is a factor. If you are relatively young, you might be able to make more challenging investments.

If you are close to or already at retirement age, one usually needs to make very safe investments.

You also need to recognize interest rates will change during different historical times. Years ago, "Index Funds" were considered a comfortable solution. Some people prefer to purchase dividend-paying stocks. And some people prefer Treasuries. But again, you need need to consider time lines and risk capacity. Also, most financial advisors usually charge a fee, so take that into consideraion when investing and figuriing the actual return on your money.

Whatever you decide to do, wishes for the very best for you.

JoyFilled Warrior · ‎09-02-2022

@patbz wrote:
I was in TSP for many years until my retirement. Obviously get advice from a professional but beyond that put as much money into this plan as you possibly can as its a very advantageous investment. I also invested fairly aggressively and kept my father's excellent investment advice as my mantra: "its only a paper loss unless you sell". I've been retired for 17 years and use a financial advisor to keep me abreast to periodic changes in regulations. With tsp and our pensions we are very happy with our financial situation.

~~~~~~~~~~~~~~~~~~

Hi @patbz

Smart Dad!! Thanks!

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB