TSP vs IRA
A lot of the information you find online is completely inaccurate
At Red Rock Secured, we’re faced with a lot of questions from customers who want to make the wisest investment options they can before retirement. Lately, we’ve been answering a lot of inquiries about the Thrift Savings Plan or TSP. Rather than spend even more time fielding calls about the subject, we decided to answer your inquiries here so more people benefit from the information.
Getting to understand the fee structure for IRAs and TSPs allows you to determine which is right for you as a government employee or member of the United States uniformed services. You’ll be able to save yourself money in fees by having knowledge of how both retirement funds work.
This short guide helps you get to know IRAs and TSPs more intimately. When faced with a decision as to which way to invest your retirement savings, you’ll know exactly why it benefitted you to choose the way you did.
Which Investment Option Offers the Lowest Fees (TSP vs IRA)
So, do Individual Retirement Accounts or IRAs have lower fees than Thrift Savings Plans or TSPs? It’s a really good question to ask considering the investment option you make significantly impacts your financial future. Avoiding paying any more money than you absolutely should ensures that you’ll have more to work with once retirement takes place.
What You’ll Be Charged for as an Owner of an IRA or TSP
If you own an IRA, there is an assumption that you’ll pay more but that isn’t necessarily the case. You won’t necessarily need a financial advisor to oversee the account, either, if you choose to do-it-yourself. There is a lot of contradictory reports on the internet telling you differently.
A TSP has an expense of .033 percent. You won’t be charged anything extra, however, in yearly maintenance fees or costs involved with trading. IRAs are subject to whatever fee structure the financial institution devised for themselves. Inquiring with the bank of your choice to learn which charge nothing in terms of maintenance fees and have NTFs or ETFs available is ideal because it saves you from paying unnecessary amounts of money to the institution.
Keep More of Your Money for Yourself
Taking the time to learn what there is to know about IRA fees and Thrift Savings Plan fees allows you to keep more of your hard-earned money for yourself. You face fewer expenses when you’re well-informed and understand what each type of investment option offers you. You’re then able to invest the way you see fit and secure your ideal retirement lifestyle and financial future.
We Can Help You Plan a Brighter Retirement Lifestyle
Let Red Rock Secured be a part of the planning process with you. We’ve got a lot to offer in the way of resources, so be sure to take a look around our website. As always, if you can’t find the answer you need, feel free to reach out to us right away. We’re invested in your future just as much as you are. Let us help ease your concerns by providing you with the information that you seek about IRAs and the Thrift Savings Plan.
TSP vs IRA
I heard about Red Rock Secured from my financial advisor, who has referred many clients to the company over the past 10+ years. After several conversations, I felt very comfortable to move forward with an investment. It's clear to me why my financial advisor recommended Red Rock. It is a great company that really focuses on placing the client's needs and interests before anything else.
Information received made me feel good about closing my Thrift Savings Plan and moving funds to Red Rock. Whenever I call, I can always reach my POC, or he will call me back in a respectable amount of time. Great customer service.
After getting hit really hard in 2008, I needed to do something different to protect my retirement. I had heard about investing in gold and silver, but never really understood how it would work. I started asking around about who to contact for more information, and one of my neighbors told me about Red Rock Secured. She had opened a gold and silver retirement account with them, and she is very happy she did. I chose to do the same thing, and I am so glad I did. They patiently guided me through every step of the process. I highly recommend Red Rock Secured. And I am glad my neighbor told me about them.
Adam of Oklahoma City, OK
Red Rock Secured helped me in setting up a gold and silver retirement account. The process was very easy. I’m thankful that Red Rock is a full-service company, providing help with every part of setting up an account and getting the account funded. It’s clear this company is top notch.