View Full Version : TSP/IRA/or 401K

12-27-10, 03:42 PM
Hi my name is PFC Andrews and my Dad is a frequent visitor to this site.

I currently do not have a TSP set up for myself and I was hoping someone on this forum could help me.

Should I get a TSP, IRA, or 401K? Which is actually better in the long run? How much should I set aside per paycheck for this fund? (I only have one bill and that's my college loans, so I wouldn't cry seeing 2 or 3% disappear from my pay).

How long until I can touch the money? I'm not sure if I'm going to do my whole 20 years in the Corps or get out after my first contract, so any insight would be greatly appreciated.

Semper Gumby

P.S. Dad said to let all of you know he is taking some leave time also, he'll be back to blogging in a few days.

Rocky C
12-27-10, 04:03 PM
I would invest in Precious Metals.
Gold / Silver / Platinum / Palladium.
It's probably the only things that are going to be worth something someday.

Best of Luck,

Semper Fi,

12-27-10, 04:08 PM
My suggestion would be to do an IRA if you have the access and the liquidity to do it.

Nothing against the TSP that is available to all of us service members but it is not intended to maximize your investment and make you money. It was put into place in order to allow savings because too many others were leaving the service broke as a joke.

401k's are decent if an employer offers it and matches a percentage of whatever you put in. Other than that they are kind of a waste.

Out of those choices I would go with the IRA if you can, otherwise go with the TSP until you can save up enough to close it and move your money over to an IRA.

12-27-10, 04:37 PM
If your employer offers it, get into a 401k (you cannot get a 401k on your own). Max out your contributions to the 401k to take full advantage of it.

Next is to do an IRA, then set up the TSP, if funds allow.

If you do not have access to a 401k, skip to the IRA then the TSP.

12-29-10, 08:02 AM
Thanks to all of you for the feedback

12-29-10, 08:27 AM
While in service TSP is a good option. When you leave the service you can simply transfer your TSP money to a 401k.