Browsing: Roth IRA

Q. I am a federal employee with a TSP (Traditional). In addition, I currently own a Traditional IRA and a Roth IRA, while my wife owns a Roth IRA. This year, it looks like our combined income (MAGI) will likely exceed the threshold for the standard approach to contribute to our Roth IRAs. I have seen strategies to use the backdoor approach, but it will require smartly transferring my traditional IRA to TSP to avoid a large conversion taxes. My traditional IRA has a nondeductible basis of $12,000 and $78,000 of earnings. As I understand from research, I could transfer the $78,000…

Q. I am retired from the U.S. Postal Service. I have a Roth, TSP, some old brokerage accounts and too much cash. I’ve been trying to find a fee-only advisor, but the offered services are far more that I want to start out with; I only want advice on re-positioning my investments for today. Do you have any suggestions?

Q. I plan on working in federal service for roughly 22 more years. I contribute enough to the TSP to max out the matching contribution. I read somewhere that it would be a good idea to direct the rest of my savings to an outside Roth IRA with a company like Vanguard so that I have more investment choices for my after-tax dollars. Good idea?

Q. I want to deposit 10 percent aggregate base pay into the CSRS Voluntary Contribution Program (VCP). How do I get my total accumulated pay over my entire CSRS work history? I worked at three Veterans Affairs centers. What forms are needed to roll the contributions into a Roth IRA? I have a traditional TSP, also.

Q. I have a TSP (Roth & Traditional) via uniformed service; I also have employer retirement accounts with TIAA (both Roth & Traditional), which is a 403(b). [I believe the scenario below would be the same for those with a 401(k).] To try to tease out and maintain the Roth funds for later, at separation/retirement from the reserves I am planning to take the one time bulk distribution (95-99 percent) of my TSP and have it be a direct rollover to my TIAA accounts. Once the TSP funds are in my applicable 403(b) Roth and 403(b) Traditional accounts at TIAA, I…

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