Required minimum distribution (RMD)

[VJoe571]

I was wondering what would be the best course of action as I reach my 73 birthday.

1) leave the money in tsp and take the minimum that is required
2) move it to a bank and allow them to manage my money
3) have a financial company manage my money

Any suggestions and ideas to ensure my money continues to grow during my extended gold years.

Learning as I go.

[haywoodkb]

If you leave your money in the TSP, nobody will get to use it (except you).

If you move the money to a bank, your TSP funds will help pay for vacation homes, boats, and sports cars for bank managers and their families.

If you move the money to a large brokerage house, your TSP can help hundreds of people afford a comfortable retirement and a college education for their kids.

[Bubba]

I was wondering what would be the best course of action as I reach my 73 birthday.

1) leave the money in tsp and take the minimum that is required
2) move it to a bank and allow them to manage my money
3) have a financial company manage my money

Any suggestions and ideas to ensure my money continues to grow during my extended gold years.

Learning as I go.

It all depends on you. If you leave it in the TSP and take distributions, then it's all yours.

If you move it to a bank, you still are worried about the market, but don't see the numbers any more.

If you want to manage it in a place like Fidelity or Vanguard, then it's like having it at the TSP, but easier and cheaper (and more efficient).

Another option could be buying an annuity (although in many instances this doesn't make sense).

Obviously up to you.

[Scarfinger]

I was wondering what would be the best course of action as I reach my 73 birthday.

1) leave the money in tsp and take the minimum that is required
2) move it to a bank and allow them to manage my money
3) have a financial company manage my money

Any suggestions and ideas to ensure my money continues to grow during my extended gold years.

Learning as I go.

If you are looking to be less involved, and want someone else to manage your money... look into a fiduciary company that specializes in retirement portfolios. I would NOT let a bank manage my money. You want a fiduciary and a fee structure no more than 1% of assets under management if possible. If the management company is trying to sell you insurance products they most likely are not a fiduciary. Not all claimed fiduciary's are 100% fiduciary. You need to read the FORM ADV PART 2A BROCHURE. Usually on the "page 2 brochure" you can find the fee structure. The main thing is to know your total cost of having someone manage your money. I would look into something like Apella Capital.

Otherwise if you are just looking for guidance on your portfolio structure? You can look into Rob Berger's website and podcast. He has a list of FEE Only advisors that will set up a portfolio and or give you advice for a one time fee that he trust.

https://robberger.com/low-cost-financial-advisors/

I believe Rob uses Mark Zoril for his own portfolio check ups.

Or for more confidence in your own plan, you could use BOLDIN (formerly NewRetirement) to give you more confidence in your financial future. I use Boldin and like it.

Good Luck!