Military Archives - New Century Investments https://www.newcenturyinvestments.com/tag/military/ Knowing Money Matters Mon, 16 Feb 2026 16:09:31 +0000 en hourly 1 https://wordpress.org/?v=6.1.10 https://www.newcenturyinvestments.com/wp-content/uploads/2021/12/cropped-Financial-Advisor-New-Century-Investments-Fort-Worth-TX-Fav-32x32.png Military Archives - New Century Investments https://www.newcenturyinvestments.com/tag/military/ 32 32 Maximizing Your Investment Potential: Rolling Over a TSP to a Self-Directed IRA https://www.newcenturyinvestments.com/maximizing-your-investment-potential-rolling-over-a-tsp-to-a-self-directed-ira/ https://www.newcenturyinvestments.com/maximizing-your-investment-potential-rolling-over-a-tsp-to-a-self-directed-ira/#respond Mon, 16 Feb 2026 16:09:31 +0000 https://www.newcenturyinvestments.com/?p=5603 Retirement savings play a crucial role in securing our financial future. As a veteran, former federal employee, or someone with a thrift savings plan, you have taken the first step towards a secure retirement. However, have you considered the benefits of rolling over your thrift savings plan to a self-directed IRA? In this blog post, we will explore the advantages of this strategy and how it can maximize your investment potential. Benefits of Rolling Over to a Self-Directed IRA Greater Investment Flexibility One of the key benefits of rolling over to a self-directed IRA is the flexibility it provides in choosing your investments. Unlike traditional retirement accounts, a self-directed IRA allows you to invest in a wide range of assets beyond the usual stocks and bonds. From real estate to private equity and even precious metals, the possibilities are endless. This flexibility opens up new avenues for diversification and potentially higher returns. Potential for Higher Returns With greater investment flexibility comes the potential for higher returns. By expanding your investment options beyond traditional assets, you can tap into sectors and opportunities that may not be available in a conventional retirement account. This increased potential for growth can significantly impact the overall performance of your portfolio and accelerate your retirement savings. More Control Over Investment Decisions When it comes to your retirement savings, having control over your investment decisions is crucial. Rolling over to a self-directed IRA empowers you to make investment choices based on your own research, expertise, and risk tolerance. You are no longer limited to pre-selected investment options. This level of control allows you to align your investments with your personal financial goals and make strategic decisions to maximize returns. Diversification Opportunities Diversification is a fundamental principle of investing. By spreading your investments across different asset classes, you can reduce risk and increase the potential for long-term growth. A self-directed IRA offers unparalleled diversification opportunities. You can allocate your funds to a diverse mix of assets, enabling you to weather market volatility and potentially achieve more stable returns. Addressing Misconceptions and Challenges Clarifying the Rollover Process One common misconception about rolling over to a self-directed IRA is that the process is complicated and time-consuming. The process is relatively simple. By working with a reputable financial institution or advisor specializing in self-directed IRAs, you can navigate the rollover process seamlessly. They will guide you through the necessary paperwork and ensure a smooth transition of your retirement funds. Explaining Different Investment Options in a Self-Directed IRA Another challenge that individuals face is understanding the various investment options available in a self-directed IRA. It’s important to educate yourself about the different asset classes, their associated risks, and potential rewards. Consulting with a knowledgeable advisor can help you gain a better understanding of these options and make informed investment decisions aligned with your financial goals. Highlighting the Unique Flexibility of Self-Directed IRAs Many people mistakenly assume that all IRAs offer the same investment flexibility. However, self-directed IRAs stand out as a unique option. Unlike traditional IRAs, which limit investment choices to a predefined list of assets, self-directed IRAs give you the freedom to invest in a wide array of alternative assets. This expanded flexibility is a game-changer for those seeking to diversify their portfolios and explore non-traditional investment opportunities. Success Story Let’s consider the story of John, a retired federal employee who decided to roll over his thrift savings plan to a self-directed IRA. By diversifying his investments across real estate, private equity, and precious metals, John was able to achieve a higher level of growth and stability in his retirement portfolio. The flexibility and control offered by his self-directed IRA allowed him to tailor his investments to his specific financial objectives, resulting in a successful retirement strategy. Rolling over your thrift savings plan to a self-directed IRA is a strategic move that can significantly enhance your retirement savings. With greater investment flexibility, potential for higher returns, more control over investment decisions, and diversification opportunities, this approach offers a wealth of benefits. If you’re ready to explore the possibilities and maximize your investment potential, contact us for a free consultation. Our team of experts is here to guide you on your journey towards a secure and prosperous retirement.

The post Maximizing Your Investment Potential: Rolling Over a TSP to a Self-Directed IRA appeared first on New Century Investments.

]]> Retirement savings play a crucial role in securing our financial future. As a veteran, former federal employee, or someone with a thrift savings plan, you have taken the first step towards a secure retirement. However, have you considered the benefits of rolling over your thrift savings plan to a self-directed IRA? In this blog post, we will explore the advantages of this strategy and how it can maximize your investment potential.

Benefits of Rolling Over to a Self-Directed IRA

Greater Investment Flexibility

One of the key benefits of rolling over to a self-directed IRA is the flexibility it provides in choosing your investments. Unlike traditional retirement accounts, a self-directed IRA allows you to invest in a wide range of assets beyond the usual stocks and bonds. From real estate to private equity and even precious metals, the possibilities are endless. This flexibility opens up new avenues for diversification and potentially higher returns.

Potential for Higher Returns

With greater investment flexibility comes the potential for higher returns. By expanding your investment options beyond traditional assets, you can tap into sectors and opportunities that may not be available in a conventional retirement account. This increased potential for growth can significantly impact the overall performance of your portfolio and accelerate your retirement savings.

More Control Over Investment Decisions

When it comes to your retirement savings, having control over your investment decisions is crucial. Rolling over to a self-directed IRA empowers you to make investment choices based on your own research, expertise, and risk tolerance. You are no longer limited to pre-selected investment options. This level of control allows you to align your investments with your personal financial goals and make strategic decisions to maximize returns.

Diversification Opportunities

Diversification is a fundamental principle of investing. By spreading your investments across different asset classes, you can reduce risk and increase the potential for long-term growth. A self-directed IRA offers unparalleled diversification opportunities. You can allocate your funds to a diverse mix of assets, enabling you to weather market volatility and potentially achieve more stable returns.

Addressing Misconceptions and Challenges

Clarifying the Rollover Process

One common misconception about rolling over to a self-directed IRA is that the process is complicated and time-consuming. The process is relatively simple. By working with a reputable financial institution or advisor specializing in self-directed IRAs, you can navigate the rollover process seamlessly. They will guide you through the necessary paperwork and ensure a smooth transition of your retirement funds.

Explaining Different Investment Options in a Self-Directed IRA

Another challenge that individuals face is understanding the various investment options available in a self-directed IRA. It’s important to educate yourself about the different asset classes, their associated risks, and potential rewards. Consulting with a knowledgeable advisor can help you gain a better understanding of these options and make informed investment decisions aligned with your financial goals.

Highlighting the Unique Flexibility of Self-Directed IRAs

Many people mistakenly assume that all IRAs offer the same investment flexibility. However, self-directed IRAs stand out as a unique option. Unlike traditional IRAs, which limit investment choices to a predefined list of assets, self-directed IRAs give you the freedom to invest in a wide array of alternative assets. This expanded flexibility is a game-changer for those seeking to diversify their portfolios and explore non-traditional investment opportunities.

Success Story

Let’s consider the story of John, a retired federal employee who decided to roll over his thrift savings plan to a self-directed IRA. By diversifying his investments across real estate, private equity, and precious metals, John was able to achieve a higher level of growth and stability in his retirement portfolio. The flexibility and control offered by his self-directed IRA allowed him to tailor his investments to his specific financial objectives, resulting in a successful retirement strategy.

Rolling over your thrift savings plan to a self-directed IRA is a strategic move that can significantly enhance your retirement savings. With greater investment flexibility, potential for higher returns, more control over investment decisions, and diversification opportunities, this approach offers a wealth of benefits. If you’re ready to explore the possibilities and maximize your investment potential, contact us for a free consultation. Our team of experts is here to guide you on your journey towards a secure and prosperous retirement.

The post Maximizing Your Investment Potential: Rolling Over a TSP to a Self-Directed IRA appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/maximizing-your-investment-potential-rolling-over-a-tsp-to-a-self-directed-ira/feed/ 0 What to Do with Old TSP Accounts: A Guide for Federal Employees and Veterans https://www.newcenturyinvestments.com/what-to-do-with-old-tsp-accounts-a-guide-for-federal-employees-and-veterans/ https://www.newcenturyinvestments.com/what-to-do-with-old-tsp-accounts-a-guide-for-federal-employees-and-veterans/#respond Mon, 16 Feb 2026 16:08:55 +0000 https://www.newcenturyinvestments.com/?p=5605 As federal employees and veterans, you may have accumulated funds in your Thrift Savings Plan (TSP) accounts over the years. But what should you do with these old TSP accounts? In this guide, we will explore the benefits of rolling over your TSP accounts, the disadvantages of leaving money in old TSP accounts, and provide practical tips for transferring your TSP accounts to a new provider. TSP accounts are a valuable asset for federal employees and veterans, offering a tax-advantaged way to save for retirement. However, as your career progresses or if you have transitioned to a new phase of life, it’s important to reassess your TSP account strategy. The Benefits of Rolling Over TSP Accounts One option to consider is rolling over your TSP accounts to a new provider. This approach offers several advantages: Tax Advantages By rolling over your TSP accounts, you can maintain the tax-deferred status of your retirement savings. This means that you won’t have to pay taxes on the funds until you withdraw them in the future. Investment Options Old TSP accounts may have limited investment choices compared to what is available through other providers. By rolling over your TSP accounts, you gain access to a wider range of investment options that better align with your financial goals and risk tolerance. Greater Flexibility Rolling over your TSP accounts allows for greater flexibility in managing your retirement savings. You can consolidate your accounts, making it easier to track your investments and simplify your financial planning. The Disadvantages of Leaving Money in Old TSP Accounts While it may be tempting to leave your money in old TSP accounts, there are several disadvantages to consider: Limited Investment Choices Old TSP accounts often have a limited selection of investment options. This can restrict your ability to diversify your portfolio and potentially lower your returns. Lack of Control Leaving money in old TSP accounts means relinquishing control over your retirement savings. You may be subject to the administrative rules and investment strategies of the TSP, which may not align with your personal financial goals. Potential Fees Old TSP accounts may come with maintenance fees or other charges that can eat into your retirement savings. By transferring your TSP accounts to a new provider, you can potentially reduce or eliminate these fees. How to Transfer TSP Accounts to a New Provider If you decide that rolling over your TSP accounts is the right choice for you, here is a step-by-step guide to help you navigate the process: Research Potential Providers: Look for reputable financial institutions that offer retirement account services and compare their features, fees, and customer reviews. Contact Your Chosen Provider: Reach out to your selected provider and inquire about their rollover process. They will guide you through the necessary paperwork and documentation. Complete the Rollover Forms: Fill out the required forms provided by your new provider. These forms will authorize the transfer of your TSP funds to the new account. Submit the Forms: Send the completed forms to your new provider, ensuring that all information is accurate and complete. Follow Up: Stay in touch with your new provider to track the progress of the transfer. They will notify you once the funds have been successfully moved. Case Study: John’s Successful Transfer Let’s take a look at John, a retired federal employee who decided to transfer his TSP account. With the guidance of a trusted financial advisor, John researched different providers and identified one that aligned with his retirement goals. He completed the necessary paperwork and successfully transferred his TSP funds to the new provider. This allowed John to have more control over his investments and access a wider range of investment options. Case Study: Sarah’s Difficulties On the other hand, let’s consider Sarah, who chose to leave her money in an old TSP account. Over time, Sarah faced challenges such as limited investment choices and difficulties in managing her retirement savings effectively. She realized the importance of taking proactive steps to address these issues and decided to explore the option of rolling over her TSP account. Comparison of Different Providers for TSP Accounts When choosing a new provider for your TSP accounts, it’s essential to consider factors such as customer experiences and feedback. Look for providers that have a solid track record of customer satisfaction and transparent fee structures. Consider their investment options, account management tools, and customer support services to ensure they meet your specific needs. As a federal employee or veteran, taking action and making informed decisions about your old TSP accounts is crucial. Rolling over your TSP accounts to a new provider offers numerous benefits, including tax advantages, increased investment options, and greater flexibility. By carefully considering your options and following the steps outlined in this guide, you can take control of your retirement savings and optimize your financial future. Remember, it’s never too late to reassess your TSP account strategy and make changes that align with your goals and aspirations. Ensure that your retirement savings work for you and provide the financial security you deserve.

The post What to Do with Old TSP Accounts: A Guide for Federal Employees and Veterans appeared first on New Century Investments.

]]> As federal employees and veterans, you may have accumulated funds in your Thrift Savings Plan (TSP) accounts over the years. But what should you do with these old TSP accounts? In this guide, we will explore the benefits of rolling over your TSP accounts, the disadvantages of leaving money in old TSP accounts, and provide practical tips for transferring your TSP accounts to a new provider.

TSP accounts are a valuable asset for federal employees and veterans, offering a tax-advantaged way to save for retirement. However, as your career progresses or if you have transitioned to a new phase of life, it’s important to reassess your TSP account strategy.

The Benefits of Rolling Over TSP Accounts

One option to consider is rolling over your TSP accounts to a new provider. This approach offers several advantages:

Tax Advantages

By rolling over your TSP accounts, you can maintain the tax-deferred status of your retirement savings. This means that you won’t have to pay taxes on the funds until you withdraw them in the future.

Investment Options

Old TSP accounts may have limited investment choices compared to what is available through other providers. By rolling over your TSP accounts, you gain access to a wider range of investment options that better align with your financial goals and risk tolerance.

Greater Flexibility

Rolling over your TSP accounts allows for greater flexibility in managing your retirement savings. You can consolidate your accounts, making it easier to track your investments and simplify your financial planning.

The Disadvantages of Leaving Money in Old TSP Accounts

While it may be tempting to leave your money in old TSP accounts, there are several disadvantages to consider:

Limited Investment Choices

Old TSP accounts often have a limited selection of investment options. This can restrict your ability to diversify your portfolio and potentially lower your returns.

Lack of Control

Leaving money in old TSP accounts means relinquishing control over your retirement savings. You may be subject to the administrative rules and investment strategies of the TSP, which may not align with your personal financial goals.

Potential Fees

Old TSP accounts may come with maintenance fees or other charges that can eat into your retirement savings. By transferring your TSP accounts to a new provider, you can potentially reduce or eliminate these fees.

How to Transfer TSP Accounts to a New Provider

If you decide that rolling over your TSP accounts is the right choice for you, here is a step-by-step guide to help you navigate the process:

  1. Research Potential Providers: Look for reputable financial institutions that offer retirement account services and compare their features, fees, and customer reviews.
  2. Contact Your Chosen Provider: Reach out to your selected provider and inquire about their rollover process. They will guide you through the necessary paperwork and documentation.
  3. Complete the Rollover Forms: Fill out the required forms provided by your new provider. These forms will authorize the transfer of your TSP funds to the new account.
  4. Submit the Forms: Send the completed forms to your new provider, ensuring that all information is accurate and complete.
  5. Follow Up: Stay in touch with your new provider to track the progress of the transfer. They will notify you once the funds have been successfully moved.

Case Study: John’s Successful Transfer

Let’s take a look at John, a retired federal employee who decided to transfer his TSP account. With the guidance of a trusted financial advisor, John researched different providers and identified one that aligned with his retirement goals. He completed the necessary paperwork and successfully transferred his TSP funds to the new provider. This allowed John to have more control over his investments and access a wider range of investment options.

Case Study: Sarah’s Difficulties

On the other hand, let’s consider Sarah, who chose to leave her money in an old TSP account. Over time, Sarah faced challenges such as limited investment choices and difficulties in managing her retirement savings effectively. She realized the importance of taking proactive steps to address these issues and decided to explore the option of rolling over her TSP account.

Comparison of Different Providers for TSP Accounts

When choosing a new provider for your TSP accounts, it’s essential to consider factors such as customer experiences and feedback. Look for providers that have a solid track record of customer satisfaction and transparent fee structures. Consider their investment options, account management tools, and customer support services to ensure they meet your specific needs.

As a federal employee or veteran, taking action and making informed decisions about your old TSP accounts is crucial. Rolling over your TSP accounts to a new provider offers numerous benefits, including tax advantages, increased investment options, and greater flexibility. By carefully considering your options and following the steps outlined in this guide, you can take control of your retirement savings and optimize your financial future.

Remember, it’s never too late to reassess your TSP account strategy and make changes that align with your goals and aspirations. Ensure that your retirement savings work for you and provide the financial security you deserve.

The post What to Do with Old TSP Accounts: A Guide for Federal Employees and Veterans appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/what-to-do-with-old-tsp-accounts-a-guide-for-federal-employees-and-veterans/feed/ 0 “I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP?” https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp-2/ https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp-2/#respond Thu, 13 Mar 2025 14:13:13 +0000 https://www.newcenturyinvestments.com/?p=5525 If you have left government or military service in recent years, then there is a good chance you still have a Thrift Savings Plan or TSP account in your name. One great option is to roll your old TSP into an IRA. Here are a few reasons why this option may benefit you: Investment Flexibility: IRAs typically offer a wider range of investment options compared to TSPs, allowing you to tailor your portfolio to your specific goals and risk tolerance. More control: With an IRA, you have greater control over your investments and can choose your own investment strategies including stocks, bonds, and mutual funds. Consolidation: Rolling over TSP funds into an IRA can simplify your retirement accounts by consolidating them into one, making it easier to manage and track your investments. Beneficiary options: IRAs often provide more flexible beneficiary options, allowing you to customize the distribution of your assets to your beneficiaries. No Required Minimum Distributions at 72: Unlike TSPs, some IRAs, like ROTH IRAs, do not have required RMDs at age 72, which can be a wonderful advantage for those who want to continue tax advantage growth. Rolling your Thrift Savings Plan assets into a Traditional IRA will help you avoid the 10% early withdrawal penalty. You will also control your IRA and have unlimited investment options. If you enjoy hands on investments, then rolling your TSP into an IRA may be for you. Contact us today for a tailored investment strategy on how your TSP can work as hard as you worked for it.   Example below: John Doe has left the service and now working as an engineer at Lockheed Martin in Fort Worth, Texas. John has a TSP that he is no longer actively contributing to and an active 401k through Lockheed Martin. He is faced with 3 options: He could leave his TSP where it is and make sure it is invested, growing for his retirement. He could decide to transfer to his current 401k, similarly reinvesting for his retirement. Lastly, he could direct it to a self-directed IRA and invest on his own for retirement.   Option 1: The TSP has limited investment options so, leaving his TSP does not allow him access to the investment options that have historically had higher returns .. There are only 5 main funds to choose from and a few target funds. In 2022, the TSP underwent a series of changes impacting its many account holders. These included the opening of a “Mutual Fund Window” to supplement the limited offering of investment funds previously available to plan participants- though the associated expenses make it prohibitively expensive for many participants. He will also not be able to make new contributions. Having one more account to keep track of can also be a headache for some people. Not only does it involve more work when balancing your assets, but you also must maintain more paperwork.   Option 2: Again, John is limited to his new plan’s investment options. This is important if his new 401(k) plan has limited investment options or higher than average expense ratios, which cause lower returns. Some employers have a minimum waiting period before you can sign up for their 401(k) plan, so you may have to wait before you can rollover your TSP assets. Option 3: The biggest advantages of rolling over his TSP into an IRA is maintaining certain tax advantages, and controlling his investment options which are no longer limited to the investment options in the Thrift Savings Plan or his new employer’s 401(k) plan. Total control allows him to limit his expenses and maintain full control of his investment.   John Doe decides on option 3, simply because, when you can self-direct, you self-direct. John will now have control over his investments, he will have access to more investment options since his new employer’s 401(k) plan does not offer ideal investment options. The process to get started is simple, and we are here to guide you through it. Contact us today for a tailored investment strategy on how your TSP can work as hard for you, as you worked for it. About Matt Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals.  Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!   Matt’s Corner Want to receive insights delivered directly to your inbox? Subscribe to Matt’s Corner for more insights and financial planning tips.   Subscribe Now!  

The post “I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP?” appeared first on New Century Investments.

]]> If you have left government or military service in recent years, then there is a good chance you still have a Thrift Savings Plan or TSP account in your name. One great option is to roll your old TSP into an IRA. Here are a few reasons why this option may benefit you:

  1. Investment Flexibility: IRAs typically offer a wider range of investment options compared to TSPs, allowing you to tailor your portfolio to your specific goals and risk tolerance.
  2. More control: With an IRA, you have greater control over your investments and can choose your own investment strategies including stocks, bonds, and mutual funds.
  3. Consolidation: Rolling over TSP funds into an IRA can simplify your retirement accounts by consolidating them into one, making it easier to manage and track your investments.
  4. Beneficiary options: IRAs often provide more flexible beneficiary options, allowing you to customize the distribution of your assets to your beneficiaries.
  5. No Required Minimum Distributions at 72: Unlike TSPs, some IRAs, like ROTH IRAs, do not have required RMDs at age 72, which can be a wonderful advantage for those who want to continue tax advantage growth.

Rolling your Thrift Savings Plan assets into a Traditional IRA will help you avoid the 10% early withdrawal penalty. You will also control your IRA and have unlimited investment options. If you enjoy hands on investments, then rolling your TSP into an IRA may be for you. Contact us today for a tailored investment strategy on how your TSP can work as hard as you worked for it.

 

Example below:

John Doe has left the service and now working as an engineer at Lockheed Martin in Fort Worth, Texas. John has a TSP that he is no longer actively contributing to and an active 401k through Lockheed Martin.

He is faced with 3 options:

  1. He could leave his TSP where it is and make sure it is invested, growing for his retirement.
  2. He could decide to transfer to his current 401k, similarly reinvesting for his retirement.
  3. Lastly, he could direct it to a self-directed IRA and invest on his own for retirement.

 

Option 1:

The TSP has limited investment options so, leaving his TSP does not allow him access to the investment options that have historically had higher returns .. There are only 5 main funds to choose from and a few target funds. In 2022, the TSP underwent a series of changes impacting its many account holders. These included the opening of a “Mutual Fund Window” to supplement the limited offering of investment funds previously available to plan participants- though the associated expenses make it prohibitively expensive for many participants. He will also not be able to make new contributions. Having one more account to keep track of can also be a headache for some people. Not only does it involve more work when balancing your assets, but you also must maintain more paperwork.

 

Option 2:

Again, John is limited to his new plan’s investment options. This is important if his new 401(k) plan has limited investment options or higher than average expense ratios, which cause lower returns. Some employers have a minimum waiting period before you can sign up for their 401(k) plan, so you may have to wait before you can rollover your TSP assets.

Option 3:

The biggest advantages of rolling over his TSP into an IRA is maintaining certain tax advantages, and controlling his investment options which are no longer limited to the investment options in the Thrift Savings Plan or his new employer’s 401(k) plan. Total control allows him to limit his expenses and maintain full control of his investment.

 

John Doe decides on option 3, simply because, when you can self-direct, you self-direct. John will now have control over his investments, he will have access to more investment options since his new employer’s 401(k) plan does not offer ideal investment options.

The process to get started is simple, and we are here to guide you through it. Contact us today for a tailored investment strategy on how your TSP can work as hard for you, as you worked for it.

About Matt

Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals. 

Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!

 

Matt’s Corner<img src="Why-I-Became-A-Financial-Advisor-Matt-Ward-CFP (3).png" alt="Matt Ward, CFP studying and analyzing stock markets">

Want to receive insights delivered directly to your inbox? Subscribe to Matt’s Corner for more insights and financial planning tips.

 

 

The post “I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP?” appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp-2/feed/ 0 What to do with your Old Retirement Accounts https://www.newcenturyinvestments.com/what-to-do-with-your-old-retirement-accounts/ https://www.newcenturyinvestments.com/what-to-do-with-your-old-retirement-accounts/#respond Mon, 20 Nov 2023 15:15:30 +0000 https://www.newcenturyinvestments.com/?p=5533 When leaving a job, many people are unsure about what to do with their old retirement accounts. This can lead to a jumble of pensions, 401(k)s, and other retirement savings that are difficult to manage. Here are a few steps to consider: Leave It With Your Former Employer: You can choose to leave your retirement account with your old employer. This option works if you’re satisfied with the investment options provided and there are no excessive fees. However, it can become challenging to keep track of multiple accounts with different employers. Roll it Over Into a New Employer’s Plan: If your new employer offers a retirement plan and accepts rollovers, you can choose to roll your old account into the new one. This could simplify your finances by consolidating your savings. Roll it Over into an Individual Retirement Account (IRA): This is a common choice and for good reason. IRAs often offer a greater variety of investment options compared to employer-sponsored plans. Moreover, IRAs can be set up with any financial institution, giving you complete control over your retirement savings. Cash it Out: This should generally be your last resort. Withdrawing your retirement savings early can lead to penalties and a hefty tax bill. Also, you will miss out on the compound interest that could have grown your savings significantly over time. Remember, it’s crucial to consult with a financial advisor before making any decisions. This ensures that you’re making the best choice for your specific financial situation and retirement goals. Additionally, it’s important to keep track of your retirement accounts and regularly review your investments to ensure they align with your risk tolerance and goals. If you do decide to roll over or consolidate your old retirement accounts, be sure to carefully review the fees and investment options of the new plan or IRA. You don’t want to end up in a worse financial situation due to high fees or poor investment choices. In summary, it’s essential to consider all your options when dealing with old retirement accounts. Leaving them behind may seem like the easiest option, but it could result in a scattered and less optimized retirement plan. Taking the time to evaluate and make an informed decision can greatly benefit your future financial stability and peace of mind. Don’t let your old retirement accounts become a forgotten part of your financial portfolio. Take control and make the most out of your retirement savings for a secure future. So, whether you choose to leave it with your former employer, roll it over into a new plan or IRA, or cash it out as a last resort, be sure to carefully weigh your options and seek professional advice when needed. Your retirement is a crucial time in your life, and it’s essential to make the best choices for a comfortable and secure future. So, keep these tips in mind when dealing with your old retirement accounts and take charge of your financial future. Happy retirement planning! About Matt Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals.  Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!   Matt’s Corner Want to receive insights delivered directly to your inbox? Subscribe to Matt’s Corner for more insights and financial planning tips.   Subscribe Now!  

The post What to do with your Old Retirement Accounts appeared first on New Century Investments.

]]> When leaving a job, many people are unsure about what to do with their old retirement accounts. This can lead to a jumble of pensions, 401(k)s, and other retirement savings that are difficult to manage. Here are a few steps to consider:

  1. Leave It With Your Former Employer: You can choose to leave your retirement account with your old employer. This option works if you’re satisfied with the investment options provided and there are no excessive fees. However, it can become challenging to keep track of multiple accounts with different employers.
  2. Roll it Over Into a New Employer’s Plan: If your new employer offers a retirement plan and accepts rollovers, you can choose to roll your old account into the new one. This could simplify your finances by consolidating your savings.
  3. Roll it Over into an Individual Retirement Account (IRA): This is a common choice and for good reason. IRAs often offer a greater variety of investment options compared to employer-sponsored plans. Moreover, IRAs can be set up with any financial institution, giving you complete control over your retirement savings.
  4. Cash it Out: This should generally be your last resort. Withdrawing your retirement savings early can lead to penalties and a hefty tax bill. Also, you will miss out on the compound interest that could have grown your savings significantly over time.

Remember, it’s crucial to consult with a financial advisor before making any decisions. This ensures that you’re making the best choice for your specific financial situation and retirement goals. Additionally, it’s important to keep track of your retirement accounts and regularly review your investments to ensure they align with your risk tolerance and goals.

If you do decide to roll over or consolidate your old retirement accounts, be sure to carefully review the fees and investment options of the new plan or IRA. You don’t want to end up in a worse financial situation due to high fees or poor investment choices.

In summary, it’s essential to consider all your options when dealing with old retirement accounts. Leaving them behind may seem like the easiest option, but it could result in a scattered and less optimized retirement plan. Taking the time to evaluate and make an informed decision can greatly benefit your future financial stability and peace of mind. Don’t let your old retirement accounts become a forgotten part of your financial portfolio. Take control and make the most out of your retirement savings for a secure future. So, whether you choose to leave it with your former employer, roll it over into a new plan or IRA, or cash it out as a last resort, be sure to carefully weigh your options and seek professional advice when needed. Your retirement is a crucial time in your life, and it’s essential to make the best choices for a comfortable and secure future. So, keep these tips in mind when dealing with your old retirement accounts and take charge of your financial future. Happy retirement planning!

About Matt

Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals. 

Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!

 

Matt’s Corner<img src="Why-I-Became-A-Financial-Advisor-Matt-Ward-CFP (3).png" alt="Matt Ward, CFP studying and analyzing stock markets">

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]]> https://www.newcenturyinvestments.com/what-to-do-with-your-old-retirement-accounts/feed/ 0 Why Work with a Financial Advisor? https://www.newcenturyinvestments.com/why-work-with-a-financial-advisor/ https://www.newcenturyinvestments.com/why-work-with-a-financial-advisor/#respond Wed, 15 Nov 2023 19:09:02 +0000 https://www.newcenturyinvestments.com/?p=5531 In the world of finance, navigating the labyrinth of investment options, tax laws, and retirement plans can leave you feeling lost and overwhelmed. That’s where a financial advisor comes in. These professionals offer expert guidance, helping you make sensible decisions about your money that align with your personal goals. Financial advisors bring clarity to the often confusing world of personal finance. They help you understand how different financial decisions can impact your life and guide you towards the options that best suit your needs. They are well-versed in diverse investment strategies and can tailor a financial plan to your unique circumstances, potentially saving you from costly mistakes. Additionally, a financial advisor can provide a clear path towards your long-term goals, whether that’s buying a home, saving for your child’s education, or preparing for retirement. They can assess your financial health, consider your income, expenses, and saving patterns, and suggest adjustments to help you meet your objectives. Thus, working with a financial advisor is not just about having an expert to manage your finances – it’s about gaining a partner who can guide you on your path to financial security and prosperity. Their expertise can also help you navigate through life’s unexpected twists and turns, such as a sudden job loss or a global economic downturn. Moreover, financial advisors offer objective advice based on your specific needs and goals. They have no vested interest in promoting any particular financial product or service, which ensures that their recommendations are solely focused on your best interests. This level of objectivity is especially crucial in today’s world of constant financial noise and market volatility. Some additional benefits of working with a financial advisor include access to specialized knowledge and resources that can help you make informed decisions about your money. They stay up-to-date on the latest trends and can provide valuable insights and strategies to help you reach your financial goals. A financial advisor can also be a valuable resource when it comes to managing complex financial situations, such as tax planning, estate planning, or risk management. They can work alongside your accountant or lawyer to ensure that all aspects of your finances are properly integrated and well-coordinated. Overall, working with a financial advisor is an investment in yourself and your future. It not only helps you navigate the complexities of personal finance but also provides peace of mind knowing that you have a professional on your side. So if you want to make the most of your finances and achieve financial success, consider working with a financial advisor today. So whether you are just starting to build wealth or looking for ways to maximize your existing assets, partnering with a financial advisor can provide invaluable benefits that will have a lasting impact on your financial well-being. Remember, a financial advisor is not just for the wealthy – they can provide valuable guidance and support for individuals at all income levels. Don’t let the complexities of personal finance hold you back from achieving your goals – start working with a financial advisor today and take control of your financial future. About Matt Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals.  Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!   Matt’s Corner Want to receive insights delivered directly to your inbox? Subscribe to Matt’s Corner for more insights and financial planning tips.   Subscribe Now!  

The post Why Work with a Financial Advisor? appeared first on New Century Investments.

]]> In the world of finance, navigating the labyrinth of investment options, tax laws, and retirement plans can leave you feeling lost and overwhelmed. That’s where a financial advisor comes in. These professionals offer expert guidance, helping you make sensible decisions about your money that align with your personal goals.

Financial advisors bring clarity to the often confusing world of personal finance. They help you understand how different financial decisions can impact your life and guide you towards the options that best suit your needs. They are well-versed in diverse investment strategies and can tailor a financial plan to your unique circumstances, potentially saving you from costly mistakes.

Additionally, a financial advisor can provide a clear path towards your long-term goals, whether that’s buying a home, saving for your child’s education, or preparing for retirement. They can assess your financial health, consider your income, expenses, and saving patterns, and suggest adjustments to help you meet your objectives.

Thus, working with a financial advisor is not just about having an expert to manage your finances – it’s about gaining a partner who can guide you on your path to financial security and prosperity. Their expertise can also help you navigate through life’s unexpected twists and turns, such as a sudden job loss or a global economic downturn.

Moreover, financial advisors offer objective advice based on your specific needs and goals. They have no vested interest in promoting any particular financial product or service, which ensures that their recommendations are solely focused on your best interests. This level of objectivity is especially crucial in today’s world of constant financial noise and market volatility.

Some additional benefits of working with a financial advisor include access to specialized knowledge and resources that can help you make informed decisions about your money. They stay up-to-date on the latest trends and can provide valuable insights and strategies to help you reach your financial goals.

A financial advisor can also be a valuable resource when it comes to managing complex financial situations, such as tax planning, estate planning, or risk management. They can work alongside your accountant or lawyer to ensure that all aspects of your finances are properly integrated and well-coordinated.

Overall, working with a financial advisor is an investment in yourself and your future. It not only helps you navigate the complexities of personal finance but also provides peace of mind knowing that you have a professional on your side. So if you want to make the most of your finances and achieve financial success, consider working with a financial advisor today.

So whether you are just starting to build wealth or looking for ways to maximize your existing assets, partnering with a financial advisor can provide invaluable benefits that will have a lasting impact on your financial well-being. Remember, a financial advisor is not just for the wealthy – they can provide valuable guidance and support for individuals at all income levels. Don’t let the complexities of personal finance hold you back from achieving your goals – start working with a financial advisor today and take control of your financial future.

About Matt

Matt Ward is a financial advisor and the president of New Century Investments, an independent investment advisory firm serving business owners, pre-retirees, and retirees in the Dallas-Fort Worth area and beyond. Matt is passionate about integrating investing, planning, and tax management into a holistic approach. Matt’s breadth of knowledge and experience in both taxes and investment management sets him apart, giving him the ability to design, advise on, and manage business strategies, tax efficiency, and retirement planning. He is known for his care and attention to detail and works hard to develop personal relationships with each of his clients so they can benefit from his customized service and guidance. He loves walking with his clients through their financial journey, supporting them and celebrating with them as they reach their goals. 

Matt graduated from Texas Tech University with a bachelor’s degree and is a certified financial planner™ and chartered retirement planning counselor℠ professional. When he’s not working, you can find Matt hiking, playing the guitar, and spending time with his family. To learn more about Matt, connect with him on LinkedIn!

 

Matt’s Corner<img src="Why-I-Became-A-Financial-Advisor-Matt-Ward-CFP (3).png" alt="Matt Ward, CFP studying and analyzing stock markets">

Want to receive insights delivered directly to your inbox? Subscribe to Matt’s Corner for more insights and financial planning tips.

 

 

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]]> https://www.newcenturyinvestments.com/why-work-with-a-financial-advisor/feed/ 0 I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP? https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp/ https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp/#respond Mon, 30 Oct 2023 17:06:36 +0000 https://www.newcenturyinvestments.com/?p=5601 If you have left government or military service in recent years, then there is a good chance you still have a Thrift Savings Plan or TSP account in your name. One great option is to roll your old TSP into an IRA. Here are a few reasons why this option may benefit you: Investment Flexibility: IRAs typically offer a wider range of investment options compared to TSPs, allowing you to tailor your portfolio to your specific goals and risk tolerance. More control: With an IRA, you have greater control over your investments and can choose your own investment strategies including stocks, bonds, and mutual funds. Consolidation: Rolling over TSP funds into an IRA can simplify your retirement accounts by consolidating them into one, making it easier to manage and track your investments. Beneficiary options: IRAs often provide more flexible beneficiary options, allowing you to customize the distribution of your assets to your beneficiaries. No Required Minimum Distributions at 72: Unlike TSPs, some IRAs, like ROTH IRAs, do not have required RMDs at age 72, which can be a wonderful advantage for those who want to continue tax advantage growth. Rolling your Thrift Savings Plan assets into a Traditional IRA will help you avoid the 10% early withdrawal penalty. You will also control your IRA and have unlimited investment options. If you enjoy hands on investments, then rolling your TSP into an IRA may be for you. Example below: John Doe has left the service and now working as an engineer at Lockheed Martin in Fort Worth, Texas. John has a TSP that he is no longer actively contributing to and an active 401k through Lockheed Martin. He is faced with 3 options: He could leave his TSP where it is and make sure it is invested, growing for his retirement. He could decide to transfer to his current 401k, similarly reinvesting for his retirement. Lastly, he could direct it to a self-directed IRA and invest on his own for retirement. Option 1: The TSP has limited investment options so, leaving his TSP does not allow him access to the investment options that have historically had higher returns .. There are only 5 main funds to choose from and a few target funds. In 2022, the TSP underwent a series of changes impacting its many account holders. These included the opening of a “Mutual Fund Window” to supplement the limited offering of investment funds previously available to plan participants- though the associated expenses make it prohibitively expensive for many participants. He will also not be able to make new contributions. Having one more account to keep track of can also be a headache for some people. Not only does it involve more work when balancing your assets, but you also must maintain more paperwork. Option 2: Again, John is limited to his new plan’s investment options. This is important if his new 401(k) plan has limited investment options or higher than average expense ratios, which cause lower returns. Some employers have a minimum waiting period before you can sign up for their 401(k) plan, so you may have to wait before you can rollover your TSP assets. Option 3: The biggest advantages of rolling over his TSP into an IRA is maintaining certain tax advantages, and controlling his investment options which are no longer limited to the investment options in the Thrift Savings Plan or his new employer’s 401(k) plan. Total control allows him to limit his expenses and maintain full control of his investment. John Doe decides on option 3, simply because, when you can self-direct, you self-direct. John will now have control over his investments, he will have access to more investment options since his new employer’s 401(k) plan does not offer ideal investment options. The process to get started is simple, and we are here to guide you through it. Contact us today for a tailored investment strategy on how your TSP can work as hard for you, as you worked for it.

The post I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP? appeared first on New Century Investments.

]]> If you have left government or military service in recent years, then there is a good chance you still have a Thrift Savings Plan or TSP account in your name. One great option is to roll your old TSP into an IRA. Here are a few reasons why this option may benefit you:

  1. Investment Flexibility: IRAs typically offer a wider range of investment options compared to TSPs, allowing you to tailor your portfolio to your specific goals and risk tolerance.
  2. More control: With an IRA, you have greater control over your investments and can choose your own investment strategies including stocks, bonds, and mutual funds.
  3. Consolidation: Rolling over TSP funds into an IRA can simplify your retirement accounts by consolidating them into one, making it easier to manage and track your investments.
  4. Beneficiary options: IRAs often provide more flexible beneficiary options, allowing you to customize the distribution of your assets to your beneficiaries.
  5. No Required Minimum Distributions at 72: Unlike TSPs, some IRAs, like ROTH IRAs, do not have required RMDs at age 72, which can be a wonderful advantage for those who want to continue tax advantage growth.

Rolling your Thrift Savings Plan assets into a Traditional IRA will help you avoid the 10% early withdrawal penalty. You will also control your IRA and have unlimited investment options. If you enjoy hands on investments, then rolling your TSP into an IRA may be for you.

Example below:

John Doe has left the service and now working as an engineer at Lockheed Martin in Fort Worth, Texas. John has a TSP that he is no longer actively contributing to and an active 401k through Lockheed Martin.

He is faced with 3 options:

  1. He could leave his TSP where it is and make sure it is invested, growing for his retirement.
  2. He could decide to transfer to his current 401k, similarly reinvesting for his retirement.
  3. Lastly, he could direct it to a self-directed IRA and invest on his own for retirement.

Option 1:

The TSP has limited investment options so, leaving his TSP does not allow him access to the investment options that have historically had higher returns .. There are only 5 main funds to choose from and a few target funds. In 2022, the TSP underwent a series of changes impacting its many account holders. These included the opening of a “Mutual Fund Window” to supplement the limited offering of investment funds previously available to plan participants- though the associated expenses make it prohibitively expensive for many participants. He will also not be able to make new contributions. Having one more account to keep track of can also be a headache for some people. Not only does it involve more work when balancing your assets, but you also must maintain more paperwork.

Option 2:

Again, John is limited to his new plan’s investment options. This is important if his new 401(k) plan has limited investment options or higher than average expense ratios, which cause lower returns. Some employers have a minimum waiting period before you can sign up for their 401(k) plan, so you may have to wait before you can rollover your TSP assets.

Option 3:

The biggest advantages of rolling over his TSP into an IRA is maintaining certain tax advantages, and controlling his investment options which are no longer limited to the investment options in the Thrift Savings Plan or his new employer’s 401(k) plan. Total control allows him to limit his expenses and maintain full control of his investment.

John Doe decides on option 3, simply because, when you can self-direct, you self-direct. John will now have control over his investments, he will have access to more investment options since his new employer’s 401(k) plan does not offer ideal investment options.

The process to get started is simple, and we are here to guide you through it. Contact us today for a tailored investment strategy on how your TSP can work as hard for you, as you worked for it.

The post I’ve retired from the Military, now working for Lockheed Martin, what should I do with my old TSP? appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/ive-retired-from-the-military-now-working-for-lockheed-martin-what-should-i-do-with-my-old-tsp/feed/ 0 Serving those Who have Served the Most https://www.newcenturyinvestments.com/serving-those-who-have-served-the-most/ https://www.newcenturyinvestments.com/serving-those-who-have-served-the-most/#respond Thu, 26 Oct 2023 14:13:02 +0000 https://www.newcenturyinvestments.com/?p=5646 We understand that managing your finances can be challenging, especially after serving our country. That’s why we’re here to provide you with expert financial advice and assistance tailored specifically to your needs. Our Services for Veterans: Debt Management: We can help you develop a personalized plan to tackle your debts and regain financial stability. Retirement Planning: Start planning for your future today with our specialized retirement planning services. We’ll help you make the most of your benefits and investments. Investment Advice: Let us guide you through the world of investments, whether you’re a beginner or an experienced investor. Budgeting and Saving Tips: Learn effective budgeting techniques and saving strategies to make your money work harder for you. Take the first step towards securing your financial future. Book a free consultation with our team of dedicated experts. We’ll analyze your unique situation and provide you with personalized recommendations. Don’t miss out on the financial assistance you deserve. Contact us today! We’re proud to support our Veterans and Military Families.

The post Serving those Who have Served the Most appeared first on New Century Investments.

]]> We understand that managing your finances can be challenging, especially after serving our country. That’s why we’re here to provide you with expert financial advice and assistance tailored specifically to your needs.

Our Services for Veterans:

  • Debt Management: We can help you develop a personalized plan to tackle your debts and regain financial stability.
  • Retirement Planning: Start planning for your future today with our specialized retirement planning services. We’ll help you make the most of your benefits and investments.
  • Investment Advice: Let us guide you through the world of investments, whether you’re a beginner or an experienced investor.
  • Budgeting and Saving Tips: Learn effective budgeting techniques and saving strategies to make your money work harder for you.

Take the first step towards securing your financial future. Book a free consultation with our team of dedicated experts. We’ll analyze your unique situation and provide you with personalized recommendations. Don’t miss out on the financial assistance you deserve. Contact us today!

We’re proud to support our Veterans and Military Families.

The post Serving those Who have Served the Most appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/serving-those-who-have-served-the-most/feed/ 0 Enhancing Your Retirement: Unlock the Benefits of TSP Rollover to IRA https://www.newcenturyinvestments.com/enhancing-your-retirement-unlock-the-benefits-of-tsp-rollover-to-ira/ https://www.newcenturyinvestments.com/enhancing-your-retirement-unlock-the-benefits-of-tsp-rollover-to-ira/#respond Fri, 20 Oct 2023 15:32:12 +0000 https://www.newcenturyinvestments.com/?p=5607 Are you a Veteran or former federal employee with a Thrift Savings Plan (TSP)? If so, you may be wondering about the best way to optimize your retirement savings. Look no further! Why is TSP Rollover Important? A TSP rollover to an Individual Retirement Account (IRA) can provide you with more control and flexibility over your retirement savings. By transferring your TSP balance into an IRA, you gain access to a broader range of investment options and potential tax advantages. Steps to Perform a TSP Rollover Performing a TSP rollover may sound daunting, but it’s simpler than you might think. Here are the key steps to follow: Research and select a reputable IRA provider that aligns with your financial goals and values. Initiate the rollover process by contacting your chosen IRA provider and requesting the necessary rollover paperwork. Complete the paperwork accurately, ensuring that all required fields are filled in correctly. Submit the paperwork to your TSP administrator. Monitor the rollover process and ensure the funds are successfully transferred to your new IRA. Benefits of TSP Rollover Opting for a TSP rollover to an IRA offers several benefits, including: Increased investment options: IRAs offer a wider variety of investment choices, allowing you to tailor your portfolio to your unique financial goals. Consolidation of retirement accounts: By consolidating your TSP balance into an IRA, you simplify your financial life and have a clearer view of your overall retirement savings. Potential tax advantages: Depending on the type of IRA you choose, you may enjoy tax benefits such as tax-deferred growth or tax-free withdrawals. Common Mistakes to Avoid While performing a TSP rollover, it’s crucial to be aware of common mistakes to ensure a smooth transition. Some pitfalls to avoid include: Missing the 60-day rollover window: Be mindful of the time limit for completing a rollover, as missing this window may result in tax consequences. Neglecting to perform a direct rollover: Opting for a direct rollover ensures that the funds are transferred directly from your TSP account to your new IRA, avoiding potential tax withholding. Contact us for a Free Consultation If you’re considering a TSP rollover to an IRA, we’re here to help. Our team of financial experts specializes in retirement planning and can guide you through the process, ensuring a seamless transition. Contact us today for a free consultation and take a step closer to maximizing your retirement savings.

The post Enhancing Your Retirement: Unlock the Benefits of TSP Rollover to IRA appeared first on New Century Investments.

]]> Are you a Veteran or former federal employee with a Thrift Savings Plan (TSP)? If so, you may be wondering about the best way to optimize your retirement savings. Look no further!

Why is TSP Rollover Important?

A TSP rollover to an Individual Retirement Account (IRA) can provide you with more control and flexibility over your retirement savings. By transferring your TSP balance into an IRA, you gain access to a broader range of investment options and potential tax advantages.

Steps to Perform a TSP Rollover

Performing a TSP rollover may sound daunting, but it’s simpler than you might think. Here are the key steps to follow:

  1. Research and select a reputable IRA provider that aligns with your financial goals and values.
  2. Initiate the rollover process by contacting your chosen IRA provider and requesting the necessary rollover paperwork.
  3. Complete the paperwork accurately, ensuring that all required fields are filled in correctly.
  4. Submit the paperwork to your TSP administrator.
  5. Monitor the rollover process and ensure the funds are successfully transferred to your new IRA.

Benefits of TSP Rollover

Opting for a TSP rollover to an IRA offers several benefits, including:

  • Increased investment options: IRAs offer a wider variety of investment choices, allowing you to tailor your portfolio to your unique financial goals.
  • Consolidation of retirement accounts: By consolidating your TSP balance into an IRA, you simplify your financial life and have a clearer view of your overall retirement savings.
  • Potential tax advantages: Depending on the type of IRA you choose, you may enjoy tax benefits such as tax-deferred growth or tax-free withdrawals.

Common Mistakes to Avoid

While performing a TSP rollover, it’s crucial to be aware of common mistakes to ensure a smooth transition. Some pitfalls to avoid include:

  • Missing the 60-day rollover window: Be mindful of the time limit for completing a rollover, as missing this window may result in tax consequences.
  • Neglecting to perform a direct rollover: Opting for a direct rollover ensures that the funds are transferred directly from your TSP account to your new IRA, avoiding potential tax withholding.

Contact us for a Free Consultation

If you’re considering a TSP rollover to an IRA, we’re here to help. Our team of financial experts specializes in retirement planning and can guide you through the process, ensuring a seamless transition. Contact us today for a free consultation and take a step closer to maximizing your retirement savings.

The post Enhancing Your Retirement: Unlock the Benefits of TSP Rollover to IRA appeared first on New Century Investments.

]]> https://www.newcenturyinvestments.com/enhancing-your-retirement-unlock-the-benefits-of-tsp-rollover-to-ira/feed/ 0