Anyone hold gold in an IRA/401k?

BMF

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There are no income limits. That’s probably the biggest advantage of the Roth TSP over the Roth IRA.

78, that's what I thought. I found something on FedWeek that showed no income limit. That changes things. I only put in a small portion of my contributions to TSP into the TSP Roth. I may up that a bit now that I know this. I've asked at least 10 people I work with and not a single one knew the answer.
 

78

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78, that's what I thought. I found something on FedWeek that showed no income limit. That changes things. I only put in a small portion of my contributions to TSP into the TSP Roth. I may up that a bit now that I know this. I've asked at least 10 people I work with and not a single one knew the answer.

You’re a firefighter. You likely have a terrific pension. Because you’ll have a terrific pension, the maximum percent of your social security benefits — 85% — will be included as income. Given all that, RMD from a pre-tax TSP would be taxed at a fairly high level.

It makes perfect sense for you to invest for tax-free Roth TSP income.
 

BMF

Bad Mother....
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You’re a firefighter. You likely have a terrific pension. Because you’ll have a terrific pension, the maximum percent of your social security benefits — 85% — will be included as income. Given all that, RMD from a pre-tax TSP would be taxed at a fairly high level.

It makes perfect sense for you to invest for tax-free Roth TSP income.

78, good memory...but I'm a retired firefighter (I actually did only 18 years and took an early retirement to stay on active duty - so I'm now collecting both my firefighter pension and my military pension. I'm working a government job now in DC). I'm 10 years older than my wife, so my hope is to never touch my TSP money (until RMD kicks in) because she'll get a reduced amount of my pension $$ (survivor's benefit - the FF pension is 75%, the military pension is 55%....and my small federal government pension will be a 50% survivor's benefit).
 
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78

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78, good memory...but I'm a retired firefighter (I actually did only 18 years and took an early retirement to stay on active duty - so I'm not collecting both my firefighter pension and my military pension. I'm working a government job now in DC). I'm 10 years older than my wife, so my hope is to never touch my TSP money (until RMD kicks in) because she'll get a reduced amount of my pension $$ (survivor's benefit - the FF pension is 75%, the military pension is 55%....and my small federal government pension will be a 50% survivor's benefit).

Wow, firefighter and military pensions and SS. You’re gonna have for-life income coming out the wazoo. BTW, Roth TSP mandates RMD at 70.5.

One of my best friends worked on the Safety Harbor, FL FD for over 30 years. He’s a client. He’s pulling down 55k a year in pension with 100% survivor benefit not including SS. I constantly tell him, do you have any idea how much capital it would take to drive that much income for life on two people if you tried to do it on your own? Millions.
 

Concrete Helmet

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78, good memory...but I'm a retired firefighter (I actually did only 18 years and took an early retirement to stay on active duty - so I'm now collecting both my firefighter pension and my military pension. I'm working a government job now in DC). I'm 10 years older than my wife, so my hope is to never touch my TSP money (until RMD kicks in) because she'll get a reduced amount of my pension $$ (survivor's benefit - the FF pension is 75%, the military pension is 55%....and my small federal government pension will be a 50% survivor's benefit).
Jesus Christ....look at all those taxpayer funded pensions.....I demand taxpayer reparations... :lol:
 

BMF

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Jesus Christ....look at all those taxpayer funded pensions.....I demand taxpayer reparations... :lol:

Man, I found a niche and it's worked out pretty good. I'm not "rich" or "wealthy", but I live within my means and we live a pretty good life. Five to six more years and we'll be in great shape the rest of our lives. I have an adult son who thinks he knows everything, I keep telling him "find a niche".
 

Concrete Helmet

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Alright so a 3rd party has to hold the metal in their vault after getting it from another party who has to do the actual transaction between you and the broker....:jerkit:
So.....how would I actually know if the gold is in there or will be there 15 years or so from now?
How would one take RMD's with physical gold? Would I have to melt part of my metal bars until I got just the right amount?:lol:

All of this is leading me back to just buying it. Any advice to buying sight unseen? I have only dealt directly with a individual seller face to face before. It looks like you save by doing wire transfer versus CC or Paypal.....then again once they have your wire you might have to drive a lot of miles to club them like a baby seal if they ripped you off :lol2:

Anyone have advice or recommendations for purchasing gold/silver online?
 

FireFoley

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Man, I found a niche and it's worked out pretty good. I'm not "rich" or "wealthy", but I live within my means and we live a pretty good life. Five to six more years and we'll be in great shape the rest of our lives. I have an adult son who thinks he knows everything, I keep telling him "find a niche".

A concept that is not able to be grasped by a large majority of today's society.
 

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