AboutJosh Elliott Expertise Annuities and life insurance only please.
Experience I am the owner of Annuity Experts, Inc., a California insurance agency that specializes in the annuity and insurance marketplace. I have authored a number of online publications that have been distributed to over 10,000 individuals over the past 4 years. I am also a financial planner and registered investment advisor with experience in the financial sector for over 10 years.
Education/Credentials Bachelors of Science from the University of Southern California.
Question I will be retiring in 6 months at age 55. I currently have $101,000 in my TSP which is invested in the I Fund(30%) and the S Fund(70%). I most likely will not be adding any more money to the TSP after I retire and won't touch this money for about 10 years. Would it be wise to leave it in the TSP or are their better choices?
Answer Hello Patrick,
While the gvt Funds you are currently invested in are good, I think you can do better elsewhere depending your risk tolerance and goals. This is especially true if you will not touch the money for 10 years - not that you would want to purchase a 10-year investment, but you have greater options inside an IRA account which has limited withdrawals until age 59 1/2.
I cannot give specific advice here, but some ideas to consider would be:
1. Working with a fee-based investment advisor, who gives you investment and overall financial advice instead of selling you a product.
2. Depending on your circumstances and other investments, using a variable annuity with a lifetime income guarantee might be useful for some of your TSP money.
3. If you are confident in your own management skills, then using Vanguard, Fidelity or even a place like Scottrade could work.
If I can be of any personal assistance, please feel free to contact me directly at djelliott@newportadvisory.com.
