The Thrift Savings Plan has updated its website. Have you used it yet? Is it more user-friendly or more confusing? And specifically, do you know how actually take withdrawals from the TSP? What are the rules? Potentially is there a better way to do it? Those are the questions we’re gonna answer. As always, we're here to help you take the confusion out of your retirement. If you'd like to talk with an advisor about your own financial future, then you can reach out to use at and click "Talk with an Advisor" Talk to you soon! The information provided is not intended as tax or legal advice. Figures shown are for illustrative purposes only furthermore, the information nor the illustrations provided may not be used to avoid any tax penalties. This content represents the general views of Christy Capital Management and should not be regarded as personalized investment advice Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice. Retirement Benefits Institute, Inc., and a portion of its contents merged with Christy Capital Management Inc. Brandon Christy, former President of Retirement Benefits Institute, is also the current President of Christy Capital Management, Inc, a registered investment adviser....(read more)
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The Thrift Savings Plan (TSP) is a retirement savings program for federal employees and members of the military. The TSP offers the opportunity to invest in a low-cost, tax-advantaged savings plan that can help you save money for your retirement. Recently, the TSP launched a new website that makes it easier than ever to manage your retirement savings. One of the key features of the new website is the ability to do a TSP transfer online. If you're looking to transfer your existing retirement savings to the TSP, here's how you can do it on the new TSP website. Step 1: Log in to Your TSP Account To get started, log in to your TSP account at www.tsp.gov. You will need to enter your TSP account number and password to access your account. If you don't have an account yet, you can create one by clicking on the "New User" link on the TSP homepage. Step 2: Navigate to the "Transfer Funds" Page Once you're logged in, navigate to the "Transfer Funds" page. You can find this page by clicking on the "Manage Funds" tab on the top navigation bar and selecting "Transfer Funds" from the drop-down menu. Step 3: Choose Your Transfer Type On the "Transfer Funds" page, you will be prompted to choose your transfer type. You can choose from the following options: - Full Transfer: This option allows you to transfer the entire account balance from another retirement plan to your TSP account. - Partial Transfer: This option allows you to transfer a portion of the account balance from another retirement plan to your TSP account. Step 4: Provide Transfer Details After selecting your transfer type, you will need to provide transfer details, including the name of the other retirement plan and the account number. You will also need to specify the amount you want to transfer and your TSP account allocation (how you want the funds divided between TSP investment funds). Step 5: Review and Confirm Your Transfer Once you've provided all the necessary transfer details, review your transfer request to ensure everything is correct. If you need to make any changes, you can do so by clicking on the "Edit" button. When you're ready to submit your transfer request, click on the "Submit" button. You will be prompted to confirm your transfer request before it is submitted. Step 6: Monitor Your Transfer Status After submitting your transfer request, you can monitor its status by checking your TSP account online. The TSP website will provide updates on the status of your transfer, including when the funds are expected to be transferred to your TSP account. In conclusion, the new TSP website makes it easier than ever to manage your retirement savings, including doing a TSP transfer. By following the steps outlined above, you can transfer your retirement savings to the TSP and start saving for a more secure retirement. https://inflationprotection.org/how-to-do-a-tsp-transfer-on-the-new-thrift-savings-plan-website/?feed_id=77960&_unique_id=640fe59011c05 #Inflation #Retirement #GoldIRA #Wealth #Investing #federalbenefitstraining #federalretirement #fersplanning #fersretirement #FERStraining #MelStubbs #retirementplanning #tsp #tspplanning #ThriftSavingsPlan #federalbenefitstraining #federalretirement #fersplanning #fersretirement #FERStraining #MelStubbs #retirementplanning #tsp #tspplanning
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