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Thrift Savings Plan

^     All messages            53964-53979 of 53979  53948-53963 >>
53979
management nightmarePerson was signed in when posted
05-23-2019
12:40 AM ET (US)
Fidelity Zero is certainly a good approach. The people at Fidelity are so nice. They may suggest things but the decision is yours. Stock brokers and real estate brokers in general just about always jump to other firms every year or two. The Fidelity office that I go to has virtually has no switching. It is a good company.
53978
management nightmarePerson was signed in when posted
05-23-2019
12:29 AM ET (US)
 I have always thought if you started with $100,000 and it grew to $200,000 the broker should get a cut of
the $100,000 gain. If they lose they should not make a dime.I guess that would encourage brokers to be more aggressive than they should.
 Ken Fisher uses the phrase" When you do better, we do better." I guess I will continue to pay my $4.95 a trade at Fidelity.
53977
Hannah BlectorPerson was signed in when posted
05-22-2019
10:35 PM ET (US)
That Gary K on the radio would say in his pitch for customers, "No big commissions, just a fee on the assets that are managed". After I left that industry the shift was on to taking a cut every year instead of focusing on trade commissions. Merrill Lynch was in the forefront, of course. They were in the building next to mine and a neighbor worked for them.

I used to go to the basement of the office building in which I worked and get a #1 sack full of mail every morning. When I became a manager I had to open every letter addressed to a broker even if it was marked personal and confidential. I then skimmed the letters for possible complaints of churning or illegal activity by the broker. Of course, most of the letters really were personal. I can still remember red-faced, arrogant, high-earning stock brokers storming into my boss' office with an opened letter in hand, opened by some kid. Boss response: If it is personal, then tell people not to send it here. Because it will be opened.

Charging fees based on account value was supposed to cut down on churning accounts. And the sales pitch to customers is that it gives the manager more incentive to do well for the client. But those companies are not in business to not make money. With % fees on the account balance it guarantees the firm will make money even if the client has no trading activity or new inflow of money. Which made me scoff at Gary K's pitch about "no big commissions". "Just a fee on the assets managed" can be quite a bite.
Edited 05-22-2019 10:36 PM
53976
Hannah BlectorPerson was signed in when posted
05-22-2019
10:23 PM ET (US)
Yes, there is Roth in TSP and the rules for withdrawing and other things is going to be more employee friendly later this year. I have real estate and TSP. I helped my daughter recently set up a Roth. We went to Fidelity online and set up automatic purchases of a basket of diverse investments. Unless you want to bother with stuff, you can achieve the investment strategies/needs of most persons for little or no cost. That is why there is less reason for people to stay with TSP if they can move their stuff. There is nothing wrong with staying if TSP has what you want. But the low cost of TSP is not the same factor it used to be. That is why I think they should think about ways to keep more money. But, really, they are going to keep a lot of the money invested by passive investors anyway. So there is not a huge incentive to make significant changes. But so much investment is so simple these days we really don't need to pay people to think much.

Google Fidelity Zero Funds to see what I set up for my daughter. I explained the various funds and gave my comments that I felt would help her know what she was buying even though she wanted me to just do it. I had her make the decisions with as much help as she wanted.
53975
management nightmarePerson was signed in when posted
05-22-2019
09:36 PM ET (US)
I have been retired for 8 yrs now. There was once talk of Roth type investment for FERS employees. Did it ever happen? Just curious
53974
management nightmarePerson was signed in when posted
05-22-2019
09:33 PM ET (US)
HB If you are investing, what firm do you use? I have found that many firms charge up to 3% of the value of your account. For that amount, their advise better be good.
53973
Bluestar ratedPerson was signed in when posted
05-22-2019
09:05 PM ET (US)
/m53968: At $25 per transfer/trade after 2x.....I say go for it!
53972
Bluestar ratedPerson was signed in when posted
05-22-2019
09:03 PM ET (US)
/m53970: Yeah.....but its "day" in Asia.
53971
BUILD THAT WALLPerson was signed in when posted
05-22-2019
07:24 PM ET (US)
It's not day trading,it's market timing and TSP was right to do what they did. These nuts were calling in every day.
/m53969 Rolled it over a to Vanguard in 2014......loon
53970
82% RetiredPerson was signed in when posted
05-22-2019
06:45 PM ET (US)
It is not really day trading if you do it at night.
53969
Boss BasherPerson was signed in when posted
05-22-2019
06:14 PM ET (US)
Must be Hell for all you Goobers: The fate of your TSPs rests solely on the latest Trump Tweet. Sad. Very sad.
53968
Hannah BlectorPerson was signed in when posted
05-22-2019
05:43 PM ET (US)
It is not really day trading since you make decisions that won't happen until hours later. My point is that those who want to be more active take the risks associated with them. Maybe my point was missed---make them pay the costs. It really doesn't cost that much. It is not like a broker makes phone calls looking for someone to buy or sell the stuff. It is just computer swapping stuff around at the end of the day. Just about any fee would result in a profit to the tsp, offsetting more costs than the individual moves caused. I realize the tsp is not designed for frequent buying and selling. But why not allow it if people pay for it? I rarely move mine because I don't really want to think about that stuff too much right now. But there were times I would have paid for a few more moves per month just for kicks. My money, my gain or loss which I would pay a fee. I wouldn't care if it was $25 per each additional move. That would be cheap for me and a profit for the tsp.
53967
Bluestar ratedPerson was signed in when posted
05-22-2019
05:29 PM ET (US)
And with this guy and his twitter account market moves are frequent. https://www.cnbc.com/2019/05/22/trumps-twi...ic-forecasters.html
53966
Bluestar ratedPerson was signed in when posted
05-22-2019
05:26 PM ET (US)
Hannah the TSP put the limits on Inter-fund transfers years ago because of all the day traders. They want to keep the expenses down near the lowest available. Besides with index funds how many moves does a TSP participant need? There is no limit to moving money into only the G Fund once the first two "anywhere" monthly moves are exhausted. I think at least one move into stocks should be reserved in case a black swan or flash crash ensues. I don't offer my moves as "advice" rather just a illustration of what one TSP person is thinking/doing with his account and appreciate the feedback either for or against. RC/LCT offer their views willingly as I come off as the contrarian.
53965
41 and outPerson was signed in when posted
05-22-2019
05:13 PM ET (US)
Trump has spent 102 million on his golf outings over a 2 and a half year period, that’s 13 million shy of what Obama spent over 8 years, That’s more of that Trump magic.
53964
Hannah BlectorPerson was signed in when posted
05-22-2019
03:28 PM ET (US)
Got married and moved to nowhere. While I loved the stock market, I am happy whatever I do, including manual labor. Which is what I did my whole life (farm) before the stock market job at age 18. So doing manual labor later was no biggie. Kept me in shape while earning money.

TSP alert!!! Comment: Ever since our monthly tsp moves were limited I have said I favor allowing more moves but charging for them. This would be worth considering even more now that so many places allow customers to trade stocks so cheaply and provide our tsp choices as cheaply as the tsp does. Maybe tsp would keep more big accounts after people gain the ability to move them if they provided more market timing options for those who like that stuff. Who is it going to hurt if the users pay? Customer choice, customer pays--capitalism!
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