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North Carolinian says Hello..
Old 01-07-2012, 06:31 PM   #1
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North Carolinian says Hello..

looking to get out of the USPS .maximum 4 years.will take an early exit if offered..have a TSP and really don't know what to do with it when I get out.Looking to have 200k more or less.What is out there..Bonds ,Stocksand the all confusing Annuity..looking for guidance..thanks Y'all
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Old 01-07-2012, 08:07 PM   #2
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Hey Songster. Welcome to here. I was born & raised in NC myself. I moved to Texas when I got out of the Air Force in 1981, lived in TX, LA & WI..now 1/2 time in TX & 1/2 time in LA till I retire in about another year. You're Postal Service, I'm fed Civil Service...so we have some stuff in common. My thought on the TSP, just off the top...is that I'd try to just leave it in the TSP and take monthly withdrawals from it, no more than 4% of the balance, adjusted annually for inflation. However, that may or may not jive with whatever other plans you have. Since you're going to be retiring from the Postal Service, you'll have a pension. I'm assuming you're a FERS employee. I'm CSRS. If you are indeed FERS, then you realize that your TSP is theoretically 1/3 of your federal retirement. A $200,000 initial balance would mean you could consider withdrawing around $8000 your first year, divided by 12 months. I'd consider that a place to begin with the TSP.... I'm like the majority on this forum in that I don't think an annuity is such a great thing. If you do happen to be in the CSRS system, then your TSP might be a little more flexible to you, and you could consider doing some other things with it. Just keep in mind that TSP has some of the lowest fees you'll find anyplace for the maintenance of your money. You won't find an IRA with fees anyplace close to what you're paying for TSP. If I were FERS and the $200,000 was all I had besides my FERS pension, I think I might not want to put that money too much at risk outside the TSP. But again, I don't know your whole story. You might have some income-producing real estate or some other sources of income.

By the way, what part of NC are you in? Ever been to Richmond County?
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Old 01-08-2012, 07:33 AM   #3
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Songster;

Generally agree with Marty's points.

Remember that you have to roll your TSP into some other retirement account when you reach age 70.5.

Does your pension qualify for NC tax exemption under the Bailey decision?

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HJust keep in mind that TSP has some of the lowest fees you'll find anyplace for the maintenance of your money. You won't find an IRA with fees anyplace close to what you're paying for TSP.
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Old 01-08-2012, 08:34 AM   #4
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Welcome aboard songster!

You don't want us to make specific investing recommendations, one size does not fit all.
  • Most here like to manage their own investments, reading any of Jack Bogle's investing books would be a good place to start. The Coffeehouse Investor is another. The Four Pillars of Investing is my personal favorite.
  • There are many 'lazy portfolios' for hands off investors, Scott Burns offers several 'couch potato' portfolios worth considering IMO, and there are others.
  • And finally, there are good all-in-one funds for the ultimate in hands off investing, but there are many awful ones as well. Most here, self included, would recommend low expense, index funds from Vanguard, Fidelity or Schwab. There are other good brokers, but there are too many, well known, who will fleece a novice investor.
And we hope to relocate (most likely) to the Triangle area in the next few years. Any info you can provide on NC would be helpful to us.
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Old 01-08-2012, 12:27 PM   #5
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Your question is too broad to answer it concisely in my opinion. Please use the search function on this website. Welcome anyway.
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Originally Posted by Songster View Post
looking to get out of the USPS .maximum 4 years.will take an early exit if offered..have a TSP and really don't know what to do with it when I get out.Looking to have 200k more or less.What is out there..Bonds ,Stocksand the all confusing Annuity..looking for guidance..thanks Y'all
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Old 01-08-2012, 01:18 PM   #6
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Remember that you have to roll your TSP into some other retirement account when you reach age 70.5.
Unless something has changed recently, I think you have the option of withdrawing the entire account or begin receiving monthly payments (to meet RMD) by April 1 of the year following the year you turned 70.5. This is the info TSP provided when I retired in 2008.
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Old 01-12-2012, 05:42 AM   #7
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And we hope to relocate (most likely) to the Triangle area in the next few years. Any info you can provide on NC would be helpful to us.

We are now planning on retiring to the Triangle next Summer, back to Cary where I grew up. The area has grown so much since the days of my youth. An average of 62% of residents in the area have college degrees...mostly due to the Research Triangle Park. Looking forward to seeing green trees again after 3 yrs in north TX!
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Old 01-15-2012, 08:48 AM   #8
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Cary,lovingly known as Containment Area for Retired Yankees,is located nicely between mountains and ocean.College Basketball surrounds the area also.Hockey in Raleigh,NFL in Charlotte,very convenient.The Triangle is drawing many folks from many states and the population is growing rapidly.North Carolina is a beautiful state offering a variety of activities,hiking,fishing,surfing,skiing or sightseeing.I am happy to call N.C. home!!!
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Old 01-15-2012, 08:54 AM   #9
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Correct; I was misinformed.

Amethyst

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Originally Posted by Lakedog View Post
Unless something has changed recently, I think you have the option of withdrawing the entire account or begin receiving monthly payments (to meet RMD) by April 1 of the year following the year you turned 70.5. This is the info TSP provided when I retired in 2008.
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