Originally Posted by unno2002
Kitesurfer2, et all:
Re the TSP, the five investment options are a terrible joke. When I retired, at the earliest moment, I rolled by TSP money out to a private IRA type account.
Run a web search for “checkbook IRA” for ideas of what your TSP money could be doing for you.
So if I understand my studies on this matter correctly, You are now a corporation and hold yearly corp. meetings and the things that go hand in hand with that. Your "corporate business" is now your IRA management. How do you know that you are not running amok of the rules that the government has in place for this type of activity? I.E. legalities. Do you keep a lawyer on retainer? And there by write that expense off as a buz expense? Seems like a good thing at first glance, then on second hand, may be chock full of pitfalls.
Plus the management (custodian) fees (do you pay yourself to manage this IRA?) and rollover costs tap you 4% just for the pleasure?. Then the managers take their yearly tap on YOUR funds irregardless of their performance....loss or gain no matter...they still tap your IRA for their "cut"? then they all say
"Past performance is no guarantee of future results"! BAH Pshaw!
I am like you however, and do not place blind trust in the TSP's ability to guard and keep my life savings. They have already tapped it X2 to keep the government functional. Grrrrr (they did not even ask!)
Sorry for the rant