I am thinking about moving my TSP but looking for options that work for me. Is USAA a Fiduciary.

4 REPLIES

@Gigantes, Hello, Thanks for considering USAA!

Give our Specialists a call at 210-531-8722 to discuss what options are best for you. 

Have a great day! 

~ Lori C

Just my opinion, but TSP is run better than just about any other retirement program out there. I retired years ago, so have not been able to invest further in my account, but I keep it because of the simplicity and low cost. Look around, but I think you'd do better to keep it where it is.


@ wrote:

 I retired years ago, so have not been able to invest further in my account,


If you have an IRA or other qualifying account, you can roll that into TSP.  I did that several years ago and it worked fine.

 

 

I made the mistake of letting a so-called financial advisor associated with my (now former) credit union convince me to move my military TSP into various mutual funds after I retired.  When I made that rollover, I lost the tax-exempt withdrawal aspect of the contributions I made while serving in a combat zone.  I asked the advisor specifically about that issue and he said it wouldn't happen.  Of course, the rollover couldn't be undone at that point.  Strike 1 (probably also counts as Strike 2). 

 

The funds' performance wasn't bad, but despite claims that we'd have a yearly review on portfolio allocation I never heard from the advisor for a couple of years unless he had something new he wanted to sell.  Strike 3.   After a couple more years of not hearing anything we assumed he no longer cared, and rolled everything over to TD Ameritrade.