Q. Please advise … can I convert my existing TSP account to a Roth IRA? I would love to start a Roth but our family income is over the threshold. The rules for 2010 seem like a perfect opportunity to make it happen. I just don’t know if the TSP is one of the retirement accounts that can be converted.
A. Yes, you may, but I’d advise against it in most cases. You should consider what must happen for the Roth IRA to overcome the burden of higher costs and/or risk, compared to the TSP.
