How can I maximize my Government Thift Savings Plan during retirement?
Here is the basic problem. The funds that I have in my federal thrift savings plan have been saved without taxes being applied, similar to a 401k or a Traditional IRA. As I remove these funds they will be taxed. As I remove the funds can I put them into a Roth IRA? The question is how much can I transfer at one time? Can I put $100,000 into the account or am I restricted to $4,000 per year. I will be over 59 and a half when I retire. Do I have a better option?
How old are you NOW? Retired? 50?
It is really difficult to answer your questions without time horizons.
I can’t answer the questions you asked without more information except to say that if you are thinking about retirement and moving sums of money in the $100,000 range, you should talk to a professional financial advisor. Since you are interested in the best information, I would recommend a fee based financial planner who is paid by the hour rather than by your investment choices.
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