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Old 07-28-2020, 04:07 PM   #41
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How are Fidelity or Vanguard different from Edward Jones?
They have cheaper expenses, .9% vs .03, sometimes 0 for the same stuff.
VSTAX, or any total market fund. Your best bet is CDS or just spend it.
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Old 07-28-2020, 04:10 PM   #42
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Also have a substantial TSP account, certainly do not plan to ever leave it unless they neuter it heavily in the future. I don't have much more to add, but this title immediately struck me as jumping from one of the safest options possible, into one of the most unsafe options possible, quite an extreme move.

EJ does allow you more ability to have someone to talk to, and general handholding, but they generally are guiding you off a cliff, or at least a really steep hill. You have to educate yourself to even properly make use of EJ's services, and by that point, you are back to the TSP being the best option in nearly all the aspects that really matter for self-informed investing. If you aren't at all capable of any sort of asset management, there are certainly better options than EJ.
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Old 07-28-2020, 05:28 PM   #43
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That EJ phone call is horrible. I just had my mother sign a transfer form with Vanguard and let them do it. The advisor told me that I should have made an appointment but I didn't let his opinion concern me.

Also the EJ advisor wants him to sell and take out cash probably so that he can get one more commission. My mother was paying >$200 for each trade.
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Old 07-28-2020, 06:53 PM   #44
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That EJ phone call is horrible. I just had my mother sign a transfer form with Vanguard and let them do it. The advisor told me that I should have made an appointment but I didn't let his opinion concern me.

Also the EJ advisor wants him to sell and take out cash probably so that he can get one more commission. My mother was paying >$200 for each trade.


Yeah the call exposed a dark side of EJ but the new ďadvisorĒ wasnít much better. When I moved funds from a regional broker to Fido I didnít have to go through that. A reputable advisor should be able to get a fax number or address without putting a client through all that stress.
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Old 07-28-2020, 08:11 PM   #45
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To me that is a sensible use of the TSP G Fund. But you may not have thought through how to access that "cash" in a tax efficient manner. If we spiral into a massive recession in the next few years you might well figure on pulling "cash" from the G Fund. That will work, but since that cash is coming from a tax deferred source all of it will be taxed as ordinary income. That may or may not matter, depending on your other sources of income that year and whether you have to take RMDs anyway. If you are high income, have a lot of equities in a taxable account, and would rather have your "cash" withdrawal taxed at capital gains rates, you can sort of achieve that by selling enough taxable equities to generate the cash you need and simultaneously buying the same amount of equities through an exchange from G to C in the TSP on the same day. This leaves you with cash on hand and no net change in your equities.
+100

This is absolutely the way to use the TSP. My wife and I have had our TSP accounts entirely invested in the G Fund for more than 20 years and our equity investments outside the TSP. As Don pointed out, the G Fund has long term Treasury yields with no risk, not even interest rate risk because of the overnight repricing. If we were to need cash, we would sell our equities outside our TSP and move a corresponding portion of our G Fund into the C Fund. Brilliant advice.
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Old 07-28-2020, 08:26 PM   #46
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Edward Jones is about making money. YOUR Money and taking it for themselves via High annual fees and more.



RUN !



I'm in the TSP, retired in 2012, and kept the majority of my funds there, but I DO have 2 Mutual Funds with Vanguard and 1 with Dodge & Cox (I'll sell that when the time comes).

You can't go wrong with Vanguard or Fidelity. Both are excellent.
WITH lower fees for sure.
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Old 07-28-2020, 10:15 PM   #47
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Hello

I have retired from fed gov. I have a TSP (Thrift Savings account). I also have an Edward Jones account. My financial advisor is trying to talk me into moving my TSP funds into Edward Jones. It would be nice to have everything in one place and I do not have financial knowledge so my TSP is just sitting there. I do know it is cheaper to leave my funds in TSP.

Any thoughts.

Thanks


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Old 07-29-2020, 06:44 AM   #48
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Just be aware that in order to withdrawal from TSP, a notarized concurrence from your spouse is required.
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Old 07-29-2020, 06:46 AM   #49
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We being trolled here?
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Old 07-29-2020, 07:03 AM   #50
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Just be aware that in order to withdrawal from TSP, a notarized concurrence from your spouse is required.
i recently rolled a portion of my TSP account to Schwab so I can do QCDs. I didnít have to do this.
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Old 07-29-2020, 07:21 AM   #51
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i recently rolled a portion of my TSP account to Schwab so I can do QCDs. I didn’t have to do this.
Really? Could it be based on the length of the marriage? My spouse and I recently withdrew from our respective TSPs, and we each had to submit a note approving the transaction for the other. TSP is temporarily waving the notarization requirement (but not the physical signature) due to COVID-19.

Or maybe withdraws and transfers have different requirements?
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Old 07-29-2020, 07:27 AM   #52
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Really? Could it be based on the length of the marriage? My spouse and I recently withdrew from our respective TSPs, and we each had to submit a note approving the transaction for the other. TSP is temporarily waving the notarization requirement (but not the physical signature) due to COVID-19.

Or maybe withdraws and transfers have different requirements?
Maybe I am misremembering and had to upload a form signed by her. I definitely didnít have to visit a notary. I did this before the end of 2019.
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Old 07-29-2020, 09:06 AM   #53
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No humor, a real call to EJ in an attempt to transfer IRA $.

https://youtu.be/bBRZS4y9sZc
Oh, what a nightmare but not surprising.
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Old 07-29-2020, 09:09 AM   #54
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OP hasn't checked in for the last five days so the question has probably been answered to her satisfaction.
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Old 07-29-2020, 02:40 PM   #55
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Really? Could it be based on the length of the marriage? My spouse and I recently withdrew from our respective TSPs, and we each had to submit a note approving the transaction for the other. TSP is temporarily waving the notarization requirement (but not the physical signature) due to COVID-19.

Or maybe withdraws and transfers have different requirements?
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Maybe I am misremembering and had to upload a form signed by her. I definitely didnít have to visit a notary. I did this before the end of 2019.
Maybe, it depends on whether you've enrolled in TSP as a CSRS covered employee/annuitant. I believe the rules are slightly different for CSRS folks as opposed to FERS people, especially since the CSRS participant in TSP is not receiving a Government match. As I recall, my spouse did not have to sign anything associated with TSP when I retired, and if ever took out a TSP loan (while I was still working) I don't believe my spouse would have had to sign anything. https://www.tsp.gov/loan-basics/applying-for-a-loan/
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Old 07-29-2020, 03:27 PM   #56
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Maybe, it depends on whether you've enrolled in TSP as a CSRS covered employee/annuitant. I believe the rules are slightly different for CSRS folks as opposed to FERS people, especially since the CSRS participant in TSP is not receiving a Government match. As I recall, my spouse did not have to sign anything associated with TSP when I retired, and if ever took out a TSP loan (while I was still working) I don't believe my spouse would have had to sign anything. https://www.tsp.gov/loan-basics/applying-for-a-loan/
This prompted me to look it up and you are correct. I am CSRS and can do as I please. FERS retirees need to get a spousal write off. I do now recall that TSP sent an after the fact notice to my wife.
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Old 07-29-2020, 05:07 PM   #57
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I'm FERS and retired last year (2019). Because spouse is eligible for joint life annuity and 50% survivor benefits from TSP, she had give the ok for installment payments (Rule of 55) and Roth conversions via notarized document (TSP-99).
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Old 07-29-2020, 06:37 PM   #58
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This prompted me to look it up and you are correct. I am CSRS and can do as I please. FERS retirees need to get a spousal write off. I do now recall that TSP sent an after the fact notice to my wife.
That makes sense. My wife is FERS, and I am Uniformed Services, and we each have to get the otherís signature to withdrawal funds.
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Old 07-30-2020, 01:03 AM   #59
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Iíve left mine in TSP for 6 years since Iíve retired. Iím happy with the results, safety & lower fees.
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Old 07-30-2020, 08:41 AM   #60
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Avoiding fees is one of the most important factors in investing success and all firms are not created equal. Most firms, with Edward Jones being among the worst, are designed to separate unknowing clients from their money with outrageously high fees. A very few, like Fidelity and Schwab, aim to attract the clients who understand that fees lower clientsí investment returns. One, alone, Vanguard, is a cooperative owned by the clients themselves and, naturally, it has the consistently lowest fees in the industry. It also does not have the expensive offices the others have and everything is done over the phone.

Uniquely, your TSP has even lower fees than Vanguard, so putting everything in the Lifecycle Income Fund is just fine, as my own wife has. TSP will calculate the sustainable payment youíll get each month and simply send it to you.

Your Edward Jones broker will likely insult your intelligence, stamp and holler and say he can outperform TSP, as he is trained to do, because he has a conflict of interest, he thrives on peopleís ignorance and not using him denies him his huge fees. However, virtually everyone on this board of experienced investors will tell you that going with Edward Jones is a huge mistake you will regret.

I feel for you having to make a hugely important decision without enough knowledge. To keep it simple as you learn from this board and other reputable sources, leave your money in the TSP. In fact, ask the TSP folks to transfer your Edward Jones money to TSP. GOOD LUCK and start reading about Vanguard and their index funds.
+1 Great advice!
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