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TSP questions
Posted on 9/1/13 at 6:39 pm
Posted on 9/1/13 at 6:39 pm
I'm starting a federal job on the 9th. I currently have about $25000 in my current 401k from John Hancock. Can I roll this to the tsp or should I convert this to an Ira with John Hancock.
4
Posted on 9/1/13 at 7:31 pm to hugo
quote:
Can I roll this to the tsp
No idea, sorry.
quote:
should I convert this to an Ira with John Hancock.
You can roll over to a regular IRA with anyone, there's no particular reason you have to stay with Hancock unless you want to.
Posted on 9/1/13 at 7:54 pm to foshizzle
Is there a better option than staying with John Hancock?
Posted on 9/1/13 at 8:05 pm to hugo
I work for the Feds as well..from what I understand, it would be beneficial to roll it into the TSP (if that's available) bc the fees are soo dam low..I want to say the expense ratio is 0.035%.
The only negative is the options of things to invest in are limited. You only have the C, S, I, F, and G funds to invest in. I would stay away from the govt lifestyle blended options bc they contain allocations of the super safe G fund (low risk, low return). I am young and have at least 30 more yrs until I retire so I have everything in C and S (50/50). My portfolio has been doing really well.
The only negative is the options of things to invest in are limited. You only have the C, S, I, F, and G funds to invest in. I would stay away from the govt lifestyle blended options bc they contain allocations of the super safe G fund (low risk, low return). I am young and have at least 30 more yrs until I retire so I have everything in C and S (50/50). My portfolio has been doing really well.
Posted on 9/1/13 at 9:04 pm to Cousin
I do CSIF all at 25%
Posted on 9/1/13 at 9:35 pm to BACONisMEATcandy
I'm only 34, so 25-30 years is realistic. John Hancock said they only charge $25/year if I keep the account with them.
Posted on 9/1/13 at 9:55 pm to hugo
quote:
Is there a better option than staying with John Hancock?
Depends on their costs and your needs, I have no experience with either. Just pointing out that you aren't limited.
Posted on 9/1/13 at 10:19 pm to hugo
quote:
'm starting a federal job on the 9th. I currently have about $25000 in my current 401k from John Hancock. Can I roll this to the tsp or should I convert this to an Ira with John Hancock.
I don't know of any "conversion" to TSP - it's just a different system.
Posted on 9/3/13 at 12:29 pm to hugo
I have been a fed employee for 15 years and have 20 years to go before I retire. The TSP is great if you are the type of person that contributes and lets it ride. The TSP only has 5 "funds" the G,F,C,I,S and limits you to 2 or 3 transfers a month. So if you are the type of inverstor that likes to move your money around alot leave it in the Hancock account. If you want to put it somewhere and let the funds do the work TSP is nice.
Personally I like the C fund it follows the S&P point for point. If the S&P goes up 1% then so does the C. Real easy to track your earnings over time.
Personally I like the C fund it follows the S&P point for point. If the S&P goes up 1% then so does the C. Real easy to track your earnings over time.
Posted on 9/3/13 at 1:39 pm to ScottieP
quote:
Personally I like the C fund it follows the S&P point for point. If the S&P goes up 1% then so does the C. Real easy to track your earnings over time.
Since I'm one of the Dave Ramsey guys on here, Dave recommends 60% C, 20% S and 20% I - I follow that and it has done all right by me.
The big key, though, is to make sure you get the full match. A positive feature that I don't make nearly enough use of is - there are no explicit transaction costs, - the cost/expenses, etc., of the fund come out of your yield - you can trade into or out of the funds every day if you want, at no additional expense. The trades are not in real time, so you basically get market prices on the buy, but they're all index funds (or bond funds) so intraday timing isn't a huge deal, anyway.
Posted on 9/3/13 at 5:12 pm to hugo
quote:
only charge $25/year
The $25 is just to hold your IRA. Your funds inside the IRA probably average 1.25%/year or so.
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