Search found 33 matches

by StretchNM
Tue Jan 14, 2020 7:24 pm
Forum: Personal Investments
Topic: Best Thrift Savings Plan (TSP) book or resource?
Replies: 14
Views: 1055

Re: Best Thrift Savings Plan (TSP) book or resource?

It's hard to beat the written word, for me anyway, and you've received some great references already. But I think one of the best ways to understand the TSP is through this YouTube channel: https://www.youtube.com/channel/UC8bWrSS2BdaQGtc1mq45Z6g That channel belongs to Fed Retirement Planning and i...
by StretchNM
Tue Dec 17, 2019 1:19 am
Forum: Personal Investments
Topic: HELP!!! Vanguard locked my account
Replies: 54
Views: 8007

Re: HELP!!! Vanguard locked my account

I feel for the OP, but..... why has he not returned? His first post was to ask a question about his predicament and it was also his last. In fact, his post was also his last activity on the forum. Always a skeptic, I am, just like the banks who are trying to protect our assets and theirs. If nothing...
by StretchNM
Sat Dec 22, 2018 6:50 pm
Forum: Personal Investments
Topic: Funds for a Roth IRA
Replies: 8
Views: 698

Re: Funds for a Roth IRA

Redtail61, I wonder why you would not begin some conversions to ROTHs immediately in addition to your contributions (if the tax is affordable)(?). Taxes won't get much lower than they are today, if history is any indication. Additionally, depending on how much is in your IRA accounts (and how much y...
by StretchNM
Wed Dec 12, 2018 11:00 am
Forum: Personal Investments
Topic: ROTHs and 5-year Penalty
Replies: 10
Views: 1001

Re: ROTHs and 5-year Penalty

I understand. Thanks to all for the help.
by StretchNM
Tue Dec 11, 2018 9:56 pm
Forum: Personal Investments
Topic: ROTHs and 5-year Penalty
Replies: 10
Views: 1001

Re: ROTHs and 5-year Penalty

Thank you. Now one LAST question, and I will leave this thread alone. I hope I'm understanding correctly that: the minimum amount of earned income dictates the maximum amount for contributions to ROTH. So, if only $4000 of income were earned for a given tax year, then $4000 will be the maximum that ...
by StretchNM
Tue Dec 11, 2018 8:13 pm
Forum: Personal Investments
Topic: ROTHs and 5-year Penalty
Replies: 10
Views: 1001

Re: ROTHs and 5-year Penalty

Thank you both.

Is there a minimum earned income limit in order to contribute the maximum annual contribution? (And I'm already pretty sure my pension check and Social Security is not earned income[?])
by StretchNM
Tue Dec 11, 2018 7:13 pm
Forum: Personal Investments
Topic: ROTHs and 5-year Penalty
Replies: 10
Views: 1001

Re: ROTHs and 5-year Penalty

Understood. Thank you both. According to my situation posted in Post# 1, I will have no problem with ANY distributions from my ROTH, since I am 60 and the initial ROTH was opened more than 5 years ago. And taking my current ROTHs and placing them into a new ROTH at Schwab changes nothing - all my di...
by StretchNM
Tue Dec 11, 2018 12:55 pm
Forum: Personal Investments
Topic: ROTHs and 5-year Penalty
Replies: 10
Views: 1001

ROTHs and 5-year Penalty

Hello, I would like your help on three ROTH IRA questions , all of which concern the 59.5/5 year requirement to avoid early withdrawal penalty. These will be very easy for the experts here but difficult for me because I can't find reference material concerning specifically this issue. (When I use th...
by StretchNM
Sun Dec 09, 2018 7:12 pm
Forum: Personal Investments
Topic: What can I be doing better?
Replies: 12
Views: 1080

Re: What can I be doing better?

<...............> Got a family of 5. Saving for it, looks like I'll put it into either short term 1-2 yr CD or possibly T-Bills. Or just a MMF. Although Marcus by Goldman Sach has a savings account with 2.05% Your Best CD Rates, by far , will be with Vanguard and Schwab (a tad better) or maybe anot...
by StretchNM
Sun Dec 09, 2018 6:13 pm
Forum: Personal Investments
Topic: Should I invest in 401k AND Roth 401k?
Replies: 10
Views: 808

Re: Should I invest in 401k AND Roth 401k?

I'm having a hard time understanding why you asked your question in Post# 1. Judging by the answers to our questions, you understand 401K, rollovers, conversions to ROTH, and max contribution limits. So, forgive my career-borne skeptical nature but, why do you want to know whether you're taking full...
by StretchNM
Sun Dec 09, 2018 5:43 pm
Forum: Personal Investments
Topic: Should I invest in 401k AND Roth 401k?
Replies: 10
Views: 808

Re: Should I invest in 401k AND Roth 401k?

<...............> I’m 46 - have > $1M in 401k and have invested the max in a Roth IRA (I exceed the limits so convert traditional to Roth every year) Do you know what your max annual ROTH IRA contribution would be within the 401k? Right now you are maxing out a ROTH on the "outside", but I believe ...
by StretchNM
Sun Dec 09, 2018 2:11 pm
Forum: Personal Investments
Topic: Should I invest in 401k AND Roth 401k?
Replies: 10
Views: 808

Re: Should I invest in 401k AND Roth 401k?

You don't mention your age or your projected retirement date, but here's where I was: I contributed for decades to my TSP (401k) and they didn't have a ROTH option until 2010 I think. Had I not had ROTH accounts for my wife and I outside of the TSP, I would have contributed to the TSP ROTH. Assume y...
by StretchNM
Sat Dec 08, 2018 10:52 pm
Forum: Personal Investments
Topic: Car Fund [Where to park cash?]
Replies: 14
Views: 1839

Re: Car Fund [Where to park cash?]

I'm guessing that I'll need to buy a car sometime in the next 5-7 years. I always pay cash for cars, and I'm considering using Vanguard's Limited or Intermediate term tax exempt fund as the place to park this cash until I need it. Would anybody recommend one fund over another? I would be investing ...
by StretchNM
Wed Dec 05, 2018 8:07 pm
Forum: Personal Investments
Topic: To Invest or Not to Invest
Replies: 31
Views: 2508

Re: To Invest or Not to Invest

This from limited experience: Does your wife work? She should have her own ROTH even if she doesn't work. Get her 5 yr penalty rule started and out of the way. - Make sure you are funding your ROTH and 529 to their maximums. - I am moderately risk averse in investments. It sounds like you might be t...
by StretchNM
Wed Nov 28, 2018 12:59 pm
Forum: Personal Investments
Topic: Does it ever make sense to invest in ROTH IRA before maxing our 401K?
Replies: 59
Views: 4892

Re: Does it ever make sense to invest in ROTH IRA before maxing our 401K?

Would there ever be a reason to contribute to a ROTH IRA before maxing our a 401K? <..............> *edit for clarification: I am currently NOT maxing our my 401K. I invest enough to get my full employee match, and max out my Roth IRA, but do not contribute the full $18.5K to my 401k (yet).<..........
by StretchNM
Fri Nov 23, 2018 6:05 pm
Forum: Personal Investments
Topic: what to ask ORG re CDs
Replies: 11
Views: 1112

Re: what to ask ORG re CDs

Like sport, I have been buying brokerage CDs. When I say you're buying CDs through your bank, what I mean is the bank you choose to have your online account (Ally, Vanguard, Schwab, Fidelity, Marcus, etc.). The reason you are choosing online banks like those mentioned is because it's hard to find yo...
by StretchNM
Fri Nov 23, 2018 3:40 pm
Forum: Personal Investments
Topic: what to ask ORG re CDs
Replies: 11
Views: 1112

Re: what to ask ORG re CDs

I am not as experienced as others here in buying CDs, but I have gone through several phone calls and many chats at several institutions over the past few weeks, and in the process I learned a lot. You call and/or Message Chat with ALL of them before deciding on one and opening an account. Read as m...
by StretchNM
Fri Nov 23, 2018 2:45 pm
Forum: Personal Investments
Topic: what to ask ORG re CDs
Replies: 11
Views: 1112

Re: what to ask ORG re CDs

None. Unless you are depositing large amounts of cash, in a briefcase, with a fake moustache, and powdered donut residue on the briefcase, it's a non-issue. Brandy, RickBoglehead's information is right on, and here's why: the restructuring laws were written to capture those involved in the many fac...
by StretchNM
Fri Nov 16, 2018 6:43 pm
Forum: Personal Investments
Topic: Vanguard CDs
Replies: 9
Views: 1136

Re: Vanguard CDs

New Mexico does have a state income tax, so CD's are taxed and treasuries are not. Just looked at Vanguard and this is the rates on their website. 1 year CD's paying 2.7% and 1 year treasuries paying 2.71%. 2 year CD's paying 3.1% and 2 year treasuries are 2.8%. Other words for a 1 year term go wit...
by StretchNM
Fri Nov 16, 2018 6:39 pm
Forum: Personal Investments
Topic: Vanguard CDs
Replies: 9
Views: 1136

Re: Vanguard CDs

It sounds like the OP is talking about CDs in a taxable account. My view is that I would only use brokered CDs in a tax-advantaged account. That way I can buy them in amounts and with maturities that mesh with my RMD schedule. Even if I were in the pre-RMD stage, I would follow this same rule as I ...
by StretchNM
Fri Nov 16, 2018 5:28 pm
Forum: Personal Investments
Topic: Vanguard CDs
Replies: 9
Views: 1136

Re: Vanguard CDs

Thank you. I just looked at Vanguard's Treasury Certificates and they have a slightly lower earnings percentage, even for 1 year. And I can find anything on whether or not New Mexico taxes treasuries.
by StretchNM
Fri Nov 16, 2018 5:01 pm
Forum: Personal Investments
Topic: Vanguard CDs
Replies: 9
Views: 1136

Vanguard CDs

Are Vanguard CDs a good idea? We have about $55K in a local Credit Union savings account. I was thinking of taking $10K and investing in a Vanguard CD for two years where the return is 3.10% yearly. Maybe I'll buy $20K if it's a good idea. But since Vanguard's are all brokered CDs, I've been reading...
by StretchNM
Sun Nov 11, 2018 10:13 pm
Forum: Personal Investments
Topic: Move Money Market to Marcus Goldman Sachs Account?
Replies: 4
Views: 970

Re: Move Money Market to Marcus Goldman Sachs Account?

OK, I found a very similar thread down below (Move Savings to Prime MM Account (VMMXX). I should have seen that before starting my thread. I never even thought to check Vanguard for a MM account, showing how (un) sophisticated I am.

viewtopic.php?f=1&t=263291
by StretchNM
Sun Nov 11, 2018 9:55 pm
Forum: Personal Investments
Topic: Move Money Market to Marcus Goldman Sachs Account?
Replies: 4
Views: 970

Re: Move Money Market to Marcus Goldman Sachs Account?

Thank you. How, and why, is it that my Money Market banker pays so little APY compared to Marcus (and others)? I'm disgusted (at myself for not seeing this long ago) and ready to move!
by StretchNM
Sun Nov 11, 2018 9:41 pm
Forum: Personal Investments
Topic: Move Money Market to Marcus Goldman Sachs Account?
Replies: 4
Views: 970

Move Money Market to Marcus Goldman Sachs Account?

Hello, I have a First Command Money Market account ($4500) that earns only %.15 APY. I've been reading about the money market accounts at other brokers (i.e. Capitol One, Goldman Sachs, etc.) are paying over 2.05% APY. Also, I have been wanting to move that First Command Money Market for some time -...
by StretchNM
Thu Nov 08, 2018 1:42 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

............... You can convert directly into a Roth IRA, but you have to pay all the tax at the same time. It is right there in the transfer forms. The benefit of moving first to a Traditional IRA is that you can convert to Roth one chunk at a time and spread the tax over a number of years. As men...
by StretchNM
Thu Nov 08, 2018 1:38 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

Yes Watty, I was aware of that and is one of the reasons I embarked on the plan outlined in my original post. Thank you for the good info. RE: Inherited TSP. I clarified the other day with a financial expert (not my advisor) that a Primary Beneficiary (usually spouse) gets all the rights and privile...
by StretchNM
Thu Nov 08, 2018 1:19 pm
Forum: Personal Investments
Topic: First time invester, help needed please
Replies: 113
Views: 7825

Re: First time invester, help needed please

Hi stt816, I'm new here and not anywhere near as informed as those who have responded to you. I just want to clarify "where" you are financially. You have a 401K that you're investing in, but only to the limit of employer matching funds ($1K annually). Unknown acct value. You have a ROTH that you co...
by StretchNM
Thu Nov 08, 2018 12:31 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

Thank all of you who replied. I was thinking "AGI" was adjusted gross income, but I was really talking about taxable income. Thanks for the correction. :happy OK now, the TSP balance is really $553K, I just didn't want to put that in here, I don't know why. I'm revealing it now because it appears so...
by StretchNM
Wed Nov 07, 2018 9:17 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

Thank you retiredjg and Jerry55 With a total income of $95K, you are near the top of the 12% tax bracket (married filing jointly with standard deduction of $24K). What you need to figure out is what your marginal rate will be later in retirement to decide if converting to Roth would be beneficial. T...
by StretchNM
Wed Nov 07, 2018 6:32 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

Thank you retiredJG, Helo80, Krafty81, and Jerry55. Your warnings are in addition to other warnings I have received about personal Financial Advisors, and even about First Command. First, there is a 2% sales charge. My TSP account is more than 300K (I used that as an example to keep it simple) so t...
by StretchNM
Wed Nov 07, 2018 6:21 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

Re: TSP(401k?) to IRA to ROTH - questions

I don't know anything about Roth TSP. So, here is a dumb question. Can you convert from traditional TSP to Roth TSP for any amount you choose? No HueyLD. After leaving Govt service, you can no longer contribute monies to the account, nor can you rollover over into their ROTH. So basically, my optio...
by StretchNM
Wed Nov 07, 2018 3:43 pm
Forum: Personal Investments
Topic: TSP(401k?) to IRA to ROTH - questions
Replies: 30
Views: 1398

TSP(401k?) to IRA to ROTH - questions

Hello, I'm new but have been working with a Financial Advisor at First Command and reading articles published by Nerdwallet, PTMoney, and others. I already have 2 ROTH IRAs with First Command - brokered by Franklin Templeton. I hope you can help me. I am 60 and retired earning a pension. My wife is ...