can you transfer some TSP to gold/silver IRA

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TSPTrader
Posts: 117
Joined: Tue Oct 05, 2010 3:42 pm

can you transfer some TSP to gold/silver IRA

Post by TSPTrader »

I am a civilian (55 yrs old) with a TSP contribution (5%). Is there a limitation to withdrawing some of my TSP money and investing it in Gold/Silver IRA without any penalties?? I have called TSP plan admin with different answers. Has anyone done it? who do you recommend?

Midway
Posts: 239
Joined: Tue Feb 28, 2012 6:09 pm

Re: can you transfer some TSP to gold/silver IRA

Post by Midway »

Why would this be different from rolling it over into any other IRA?

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evilanne
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Joined: Thu May 14, 2015 6:52 pm

Re: can you transfer some TSP to gold/silver IRA

Post by evilanne »

I don't have any 1st hand experience. I have invested a little in precious metals outside of retirement accounts. I know one person that had invested in some type of metals IRA but eventually closed it because he said with fees/storage, he was actually losing money (this was awhile back). I know he had a really hard time closing out the account.

Here is a link I found https://www.forbes.com/advisor/retireme ... ld-silver/. They mention that no more than 5-10% should be invested here but you got to realize that the financial advisors want to keep more of your money and I'm sure the ones involved in precious metal think you should invest much more. Didn't see anything about limitations on how much you can invest. I'm sure if you talk to a few companies they should know. I'd be interested in what you find out. I may want to try it down the road with Roth account.

https://www.401kgoldirarollover.net/how ... a-roth-ira
(this one say no more than a third)

https://www.linkedin.com/pulse/top-5-pr ... ette-lode/

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TSPTrader
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Joined: Tue Oct 05, 2010 3:42 pm

Re: can you transfer some TSP to gold/silver IRA

Post by TSPTrader »

FWIW - after a few calls with different custodians If you have a TSP and you are younger than 59.5 years of age, then you cannot move the funds freely until you turn 59.5, or leave your job as a federal employee.

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F $18.68 -0.48% 2.58%
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