Browsing: Investing

Q. I’m retiring soon at 60 years of age and 30 years. I have TSP savings of about $600,000 in the L2020. My monthly retirement annuity before taxes is estimated at $3,971, which includes $1,414 in the Social Security supplement. My mortgage is $260,000 and I am paying $1,889 a month with a balloon payment due in 2022 for $244,380. The interest rate is 4.99 percent (as is the APR) with total interest percentage (TIP) of 32.9 percent. I need advice on whether to withdraw $260,000 from my TSP and pay off the mortgage or leave it. I’ll need to…

Q. I am 59 years of age and will retire with 35 years of federal service (FERS) in five years. I have approx $250,000 in TSP. An advisor wants me to rollover $200,000 of my TSP funds into a fixed index annuity with ATHENE. He states if the market goes down it will not affect my monthly allotment. Why would I do this if TSP offers an annuity as well (single life) with lower overhead and surrender fees? In other words, is a fixed index annuity a better option than TSP’s single life annuity? 

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 retired at age 62 with over $400,000 in my TSP account. I made a lump sum withdrawal in the amount of $120,000 to an annuity IRA account with Pacific Life through Edward Jones, which pays $500 for life and the account balance will never drop below the yearly gain (which holds its value at the account anniversary). The account value is now over $130,000. Upon my death the remaining funds are distributed to my beneficiaries. My Edward Jones financial advisor is suggesting that I consider transferring my TSP balance to an account with Edward Jones. Since I made…

Q. Many years ago I withdrew money from a previous employers retirement system (not federal) and rolled over to a private mutual fund company, where the fund was put into a 403(b) and tagged with a USDA title. It is not an account associated with USDA, but since I was starting work with USDA at the time somehow that label got assigned to the account. I want to roll over these funds from the current private mutual fund company to another private mutual fund company. The first company said I can’t do it until a live qualifying event happens, but…

Q. I’m a career fed with young adult daughters who took advantage of myRA accounts. With myRA accounts closing out, I wish they could move their money to a TSP Roth, but they didn’t follow in dad’s (Fed) footsteps.  Could you provide some guidance on where to find low-cost L Fund equivalents?  For extra credit: Roth accounts also work as secondary emergency funding accounts for them as young adults.  That flexibility provides a opportunity to put more funds into retirement accounts than might otherwise be comfortable. Both are currently eligible for retirement savings tax credits. Options that maintain that flexibility…

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