Delivered on: Thursday, June 24, 2021
The Roth TSP Advantage
How to pay taxes ONCE – and never again!
- Distinct difference between Roth TSP and Roth IRAs
- Ideal candidates for contributing to the Roth TSP
- How “old” and “new” money is treated differently for Roth TSP purposes
- Unique application of the agency’s match on Roth TSP contributions
- Steps to withdrawal money from TSP and how to abide by IRS rules to make it tax-free
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Prefer to read instead? Below is a transcript from the video:
Welcome to today’s webinar on “The Roth TSP Advantage.” We have thousands of you registered. We’re really excited for this session. We know that it’s such a popular topic because we get loads of questions on the Roth TSP in our workshops. And we want to make sure that we bring this topic front and center for everyone to get their hands wrapped around, and really get clear on the tax advantages that are available to you, and some of the consequences that go along with them.
For our audience today, we’ve got feds from all walks of life joining us. And of course, there’s going to be lots of questions from different perspectives. So, our support team is standing by in the Q&A to be able to chat with you to get your questions answered. All that I ask is that the topics of the questions that you ask are related to today’s material. Because we have so many of you on the webinar, we want to make sure our support team is able to get to everybody’s questions.
Like always, the handouts are available to you to download in the handout section. There’s also a link right here at the bottom of your screen to be able to download that. If you happen to forget, don’t worry, they’ll be emailed to you as well.
We’ll also be recording today’s session and we’ll send you a link to the replay, as well as, if you have friends or co-workers who would have benefited from today’s session, that you can pass along that link to them.
Stay until the very end because for this session we’ve curated all of these questions that feds have surrounding the Roth TSP and this strategic advantage that you’re looking to get. And we want to make sure that you’re sure super clear on all of this.
I’m your ProFeds presenter, Chris Kowalik. I’m the founder here. Really excited to be able to do this session. Again, there’s so much strategy here. But what we find in most of our workshops is that if feds are contributing to the Roth TSP, they don’t really know why they. They don’t know the mechanics and the strategy behind what they’re doing to be able to leverage it properly in retirement. So that’s what today’s session is all about.
The Roth TSP advantage, how to pay taxes once and never again. When it comes to the Roth, there are advantages and disadvantages to doing that program over other types of programs. But I love the idea that I have a say, I have a choice in when and how I pay my taxes on this particular bucket of money. And I want to show you how that works as well.
For our agenda today, we’re going to talk about the three tax buckets. So this might be a little review for those of you who have gone down this path of trying to figure all of this out. But I think you’ll even be able to pick up a couple of new things as well.
We’ll also cover the topic of tax diversification. What’s the concept? What does it mean? And how does it play out in real life? Then we’ll do an overview of the Roth IRA that exists in the private sector. There’s still a lot of confusion out there for feds believing that the rules that apply to a Roth IRA are the same ones that apply to the Roth TSP. And so we want to get that nice and clear.
Next, we’ll do a quick overview of the traditional and the Roth TSPs, how they’re similar in some ways and how they’re very different in other ways.
Here’s the part where we’ve curated all of these questions. Of course, we do lots of workshops. I had some time to consult with our training team and we came up with the top 10 questions that were asked on the Roth TSP. And that led me to believe that there’s still a lot of misunderstanding about this program that we need to set the record straight today.
As far as what the lawyers want me to say, they all want me to say that this is not tax advice, that you shouldn’t run out and make all these decisions based solely on this webinar. And I agree with them. Of course, we’re giving you the information as it stands right now in the tax law and the laws governing the Thrift Savings Plan. There’s always an opportunity for those things to change. In fact, there’s current legislation that may alter some of these things. So as of today, this is what things look like.
Before we jump into the three tax buckets, I want to give you a real life image of someone planning for taxes in retirement. This is actually what we see all the time. People thinking taxes aren’t going to be a big deal in retirement. They put their head in the sand, and lo and behold taxes become a really big problem. So ignoring this issue has a lot of undesirable side effects from a financial standpoint that you do not want to face.
If people are ignoring the tax issue, it leads us to ask another question, “Won’t I be in a lower tax bracket when I retire? What’s the big deal?” We hear this all the time. Let me share with you that there are only two reasons that you’re going to be in a lower tax bracket when you retire. The first is that you’re broke and you don’t have the income saved to be able to fund the retirement that you want. I know “broke” is a subjective term. So everybody’s version of broke is a little bit different.
Here’s the second reason and the one I want to focus on today: you planned to be in a lower tax bracket because of the advanced planning that you did. You can end up in a lower tax bracket by accident, which is no good, or be in a lower tax bracket, because you were thinking about the strategy of how to get there, and to do it safely and not pay more taxes than are absolutely necessary.
For those of you who have done some digging on traditional TSP versus Roth TSP, and maybe looking out to the private sector for some guidance, this three tax bucket strategy might be a bit of a review for you. So let’s jump in.
There are three different tax buckets. And these buckets explain how the growth on your account is taxed. It’s also important to know how the principal is taxed. That’s the money that you’re using to fund these accounts. And that’s part of this. But what we want to focus on right now is how the growth is taxed, because nobody puts money into an investment for it just to stay level. We want it to continue to grow.
On the left-hand side, in the red bucket, this is the “tax me now” bucket, or what we refer to as taxable money. So you’re taxed along the way. We’ll break each of these down here in just a moment.
The “tax me later” bucket is what most of you have in the TSP. That’s called “tax deferred.” So you know you’re going to have to pay taxes, you’re just opting to pay them later.
The third bucket is that blue bucket is the “tax me never” bucket, which of course, that sounds great. Remember, we’re only talking about the growth on the account, not the principal. So this is our tax-free bucket. We like the idea of tax-free because we get a lot of control out of these types of decisions.
Let’s break these down a little bit more clearly so that we can get our head wrapped around each of these buckets. So this taxable bucket, these are accounts that you probably use more on a regular basis: your savings account, your checking account, and the interests that grows on there, that’s the growth. Money markets, CDs, bonds, normal mutual funds that are not in an IRA. Those are all taxed each year. So, you’re going to get, first, as far as how you know their status, you have to fund these with after-tax money, so you don’t get any tax advantage at the beginning. In fact, you’re not given a tax advantage at all in these times types of accounts.
But you’ll know that dealing with a taxable account, because each year you get a 1099. That’s the tax form that they tell you what the growth is on your account that you have to claim. You claim it as income that year with your taxes. So while it’s great to know that you’ve got, say, a mutual fund that made some good gains that year, you have to pay taxes in that year on the gain itself. So it has it’s drawback, but it’s still better than spending all of your money and not having anything to show for it.
The second bucket is the “tax me later” bucket or tax deferred. These are accounts like a traditional IRA, a traditional 401(k), a traditional 403(b), or a traditional Thrift Savings Plan. How you know their status, these are funded with pre-tax money, meaning you get to contribute to these without paying tax on the money right now. So you get this immediate tax advantage and not have to claim that contribution as income this year, which is great because it feels good to not have to pay taxes.
I talked to my accountant and the funny part about when you go to file your taxes is accountants are judged based on how much they make you pay the IRS. I told my accountant, “Listen, I want you to be very clear with me. We’re not looking to cook the books or anything, but I want you to be very clear on where the tax opportunities are. I’m not looking to skate any taxes. I am looking to not pay any more tax than I absolutely am required to.” And I think that’s where really everybody stands here.
When we’re thinking about tax deferred, we know we get that immediate tax advantage, but the tax trains come in later. And we don’t really know what taxes are going to look like later. We’ve already determined, you’re probably not going to be in a lower tax bracket by accident, hopefully, because it means you’ve saved enough, but we want to make sure you’re in a lower bracket to get the advantage of not having to pay a lot of taxes later. But in this green bucket, we just have no idea. It’s a little bit of a blank check that we’ve written that says, “Okay, I don’t want to pay taxes now. I’ll pay them later, even though I don’t really know what the later tax bracket looks like for me or the tax situation really looks like for me.” We like the green bucket, but it has its drawbacks, too.
Last step, let’s talk about this blue bucket, the “tax me never” bucket, or the tax-free bucket. These are accounts like a Roth IRA, a Roth 401(k), or Roth 403(b), or a Roth TSP. Other accounts you might be familiar with are the Coverdell Education Savings Account, the 529 College Plans, municipal bonds, life insurance proceeds, those types of things. It doesn’t mean you don’t pay tax now. You do pay tax when you contribute to those accounts initially. As far as how you know their status, these funds are contributed with after tax money, meaning you have to go ahead and claim the contribution that you’re making to these accounts as income now.
Where the tax-free comes in is how the growth is taxed later. We’ve taken care of the principal, that’s the contribution that you made, but later how the growth is going to be taxed.
This is obviously a high level overview of the three different tax buckets. I think this is probably helpful for a lot of people to at least have a general understanding of how the different types of accounts work. Although there’s a ton more detail that can go into these slides. I know we have limited time today. But I want to talk about this concept of tax diversification. So the concept here is that you have different buckets of money to choose from that are taxed differently in retirement. That you have a choice. You get to choose when and how to take money from each one of those buckets: the red, the green, the blue bucket.
Ideally when taxes are high, like relatively high, you probably want to take that money from a tax-free account, if you had a choice. Likewise, when taxes are really low, you probably want to take money from a taxable account because you’re willing to pay the tax “on sale,” which is what happens in a low tax environment. And in a really ideal situation for tax diversification purposes, you allow each of these buckets to be independently invested, that they are not interdependent on one another and can operate on their own.
That’s the big concept of tax diversification. Just like when you’re thinking of the funds that you’re invested in, you want to be diversified there, too. You don’t want everything in one particular sector like tech or healthcare or dot com. We’ve got all these growing groups of stocks that are out there. We want to be careful that we don’t have all of our eggs in one basket. So, a nice diversified portfolio. What we can’t forget that the taxes within that portfolio need to be diversified too. So this is the big concept.
I could spend a whole session just on tax diversification, but hopefully this gives everybody a little bit of a high level overview of what the overall concept really is.
Now the question is, if we know that in this blue bucket that we’re talking about, these Roth accounts, obviously the topic of today’s webinar, what does that look like out in the private sector? For a Roth IRA in the private sector, to fully qualify for a Roth, your modified adjusted gross income must be under $140,000 if you’re single, or under $198,000 if you’re married, filing jointly. And these numbers actually get much more complicated. There’s a phase out period. And a certain income that at no way, no how can you contribute to these type of accounts. But these are the bare minimums to fully qualify for a Roth IRA in all of its glory.
You can contribute to a Roth IRA, but know that it must be earned income. So, if there was a year you didn’t work, but you had some extra cash, you could not contribute to a Roth IRA. You actually have to have a job for contributions to a Roth IRA.
You can contribute up to $6,000 a year, and this is per person, plus an additional thousand dollars a year, beginning of the year in which you turned 50. So, if you turned 50, December 31st of a given year, the entire prior year in that year in which you turned 50, you can contribute to the catch-up contributions, this extra thousand dollars a year in a Roth IRA. Remember, we’re talking about the private sector IRA, not the Roth TSP. Because we need to compare and contrast what this looks like, so that you can understand where the differences are.
For withdrawals from a Roth IRA. When we’re thinking about the whole purpose of a Roth IRA, we want to make sure that all the growth is tax-free to us. But the IRS says two requirements that must be met in order for them to let you take distributions out of a Roth IRA tax free. The first is you must have reached the age of 59 and a half, and at least five years must’ve passed since any Roth IRA that you own was first funded. It doesn’t have to be the Roth IRA that you’re taking the money from, but any Roth IRA from the moment it was first funded in that tax year, that’s when the five-year rule starts. It’s to keep people from gaming the tax system on a really short term basis. I won’t get into the philosophy of the Roth accounts, but that’s the idea.
In a Roth IRA, required minimum distributions, those are the ones that normally have to come out at 72. Those are never, ever required in a Roth account in the private sector. By virtue of not having RMDs, where you have to pull money out of the account, it allows the funds to stay in the account in this tax-free status and keep growing and growing, and growing, and growing. That way you’re able to take out a lot of money later, and it’ll all be tax-free.
Roth IRAs pass along tax-free to your beneficiaries. So this is a strategy that a lot of folks use when they’re trying to think about that generational wealth of how they pass along money without giving some of it to Uncle Sam.
How does the TSP allow you to have tax diversity? Let’s look at the traditional TSP. There’s still a tax advantage in the traditional TSP. Let’s start on the left-hand side. When the money goes in to the traditional side of your TSP, you get to save tax today. Because it’s the contribution that you’re making or the principal. It is not taxed now. You don’t claim it on your taxes. So, that blue principal goes into the account and then it grows. That’s where you see the green portion of the stream. And when you go to take the money out later, you pay tax on both the principal and the growth. Remember, you haven’t paid tax on the principal yet, so that’s still due you defer that until later, but also all of the growth that’s happened on the account is fully taxable as well. Still a great tax advantage today, but you’re again, writing a blank check because you don’t really know what things are going to look like later.
Next is the Roth account in the TSP. So, when the money goes into the Roth, you go ahead and pay the tax today on that principal that you’re using to fund the Roth. And when that account grows and you go to take the money out, all of it is tax-free, again, as long as you meet the normal IRS rules that we just covered, all of the money you take out is tax-free, the principal, because you already paid the tax on the principal, and the growth. This is the part that a lot of people don’t realize is that there’s this tax-free growth that’s happening in the account, which makes the Roth so attractive.
This is the basic setup of the traditional versus the Roth in the TSP. Like I promised, we knew that there were going to be tons of questions on the TSP specifically on the Roth side. We’ve curated all of that together to bring them to you today.
So, our top 10 questions that we get on Roth TSP. The first is, do I have to contribute to the Traditional TSP to be able to contribute to the Roth? The answer is no. You can choose to put all of your money in the Roth if you feel like it, or all of it in the traditional, or any combination of both. There is no requirement for you to contribute to the traditional TSP.
But remember that if you are contributing, let’s say you’re maxing out the TSP at a thousand dollars a pay period right now, assuming you’re at least 50 and doing the catch-up contributions, if you all of a sudden go in and change all of your contributions to go to Roth, you’re probably going to be very surprised when you get your next paycheck, because not only did the thousand dollars go into the Roth TSP, you also had to pay tax on all of that money. And so, you’re going to see your net pay, go down initially with the Roth TSP. So, be prepared for that. Don’t surprise yourself and then be mad.
Next question. Do I get matched on contributions I make to the Roth TSP? There is a little rumor going around that if you put all of your money in the Roth TSP, you don’t get your match. It’s total bogus. We want to make sure that we’re all clear. Assuming that you’re a FERS employee, yes, you will get your match, even if you decide to put all of your contribution in the Roth TSP.
The way the match works is if you contribute at least 5% of your salary to the TSP, either Roth or traditional, or some combination of the two, as long as you do that over all 26 pay periods throughout the year, you will receive your full match. Here’s where the rumor comes from. And it’s just a misconception in understanding how the fundamentals work here. That 5% agency match that you’re getting is always deposited on the traditional side of your TSP account. You don’t technically have two different accounts. You have one account with two tax sides, the traditional and the Roth. The agency is going to put their contributions on your behalf in the traditional side of the account, because your agency doesn’t want to pay the tax on the money. They want you to pay it. And the only way to make you pay it is to put it in the traditional side. So, eventually, later, when you go to pull the money out, you’re going to pay tax on the principal that your agency contributed on your behalf, as well as the growth. Okay.
Next question. Can I invest my traditional and Roth TSPs differently? For instance, can I have my traditional money in the G fund and my Roth money in the C fund? I’ll say no, but I love where your head’s at. This is not possible within the TSP. Your decision about which funds to invest in within the TSP have to be standard across the entire account. So if you decide for all new money going into the account, it’s going to go 50/50 between the G and the C funds or whatever ones you choose, then the same percentage would be Roth versus traditional. So however that percentages that you’ve set is traditional and Roth, it still has to go to the funds that you’ve identified you’re investing in.
I want to clarify something that I think trips up a lot of people, they think that the tax tags that are applied, like traditional IRA, traditional TSP, and the same with the Roths, that that somehow is a separate account. And it’s not. It’s simply a tag that the IRS places on money, so that they know how to tax it properly.
Another way to think about the whole G fund versus C fund, and can you separate the two, is that these accounts don’t operate independently of one another. Remember that was one of the tax diversification strategies or really principles that we wanted to try to capture, is that your traditional money can grow completely independently of the Roth money. And that’s not at all how it’s structured in the TSP. They have to operate together with, in this example, the G fund and the C fund, both having money in it. And each one has some TSP and some Roth money, depending on the tax allocation that you’ve placed on each one.
Just know that you set your contributions to go among the five funds or the lifecycle funds. And then you get to on top of that, the next layer, is what percentage of each of those contributions do you want to be traditional versus Roth?
Next question. For money I already have in the traditional TSP, can I move it to Roth TSP? The easy answer is no, you are not allowed to do what we call “convert” traditional TSP money to make it Roth TSP money, right in the plan itself. The TSP simply doesn’t allow this. Many 401(k)s don’t allow this type of in-plan conversion. Only your new money that you contribute each pay period can go to the Roth TSP. So, there’s no way to fix “the money that’s already in the account.” You simply have to look at all the new money that you’re putting in, how to make that Roth versus traditional in the percentage that you’re looking for.
The conversion that this question refers to, this is possible out in the private sector. You can only do it once you’re either retired or separated, which at that point you can move your money to wherever you want, or if you’re still working, be at least 59 and a half. Then you can do an in-service withdrawal or an in-service distribution, and get that money out into a conversion account and set yourself up for the moment in which you retire. So, this is a little bit of the advanced planning that can give you a bit of an unfair advantage in making that conversion happening a little bit earlier, and that way, any growth from that point at the time of the conversion will continue to be tax-free.
Next question. When I take my money out of the TSP, can I choose to take from the traditional or the Roth side? Oh, the answer to this is, yes. This was a change with the TSP Modernization Act that was enacted just in the last couple of years. You are now permitted to make a choice of which side of the TSP account you want to pull from, the traditional or the Roth, or you could certainly do a combination of both. So, while this isn’t a perfect plan as far as the TSP and the tax diversification challenges that we really have, it did get better with the Modernization Act to allow you to pick and choose which fund to take it from. Just remember the traditional and the Roth funds have to be invested identically. So, between the G, F, Cs and I, you can’t have one operating one way and the other operating a different way. It’s just how it’s going to be taxed when it comes out.
Next question. If I leave my money in TSP when I retire, does the five-year and 59 and a half rule for Roth IRAs apply to Roth TSP? This is a great question. So, this is the rule that I mentioned a few minutes ago that the IRS has on Roth IRAs. My answer to this question is, yes with a twist. If you leave your money in the TSP when you retire and you want to pull money out at that time, the account, the Roth TSP had to have been opened and funded for five years, and you must be 59 and a half to make the withdrawals that you’re taking tax-free. Of course, your own money is always tax-free to you, the principal that you use to fund it. The question is, how is the growth paid to you? We want the growth to be tax-free. That’s the whole reason you do a Roth account is to get tax-free growth.
Yes, there is still a five-year rule and the 59 and a half, but we have to make sure that you understand the Roth TSP had to have been funded for at least five years. Or, let me retract that, it had to have been first funded at least five tax years ago, and you didn’t have to continually fund it for five years. But of course, you also have to meet that 59 and a half rule.
But what if you do the opposite? If you move your money out of TSP when you retire, does that same rule apply? And I’ll say yes, but with a different type of twist. If you move your money in the Roth TSP, out into a Roth IRA, once you’ve retired, or really any time if you’re still available to do that, the five-year clock starts from the moment the first Roth IRA that you own was first funded.
So let’s say back in your thirties or your forties, you got the bright idea to open up a Roth IRA and you put some money in there, and then lo and behold, you ended up making too much money and you couldn’t contribute to that account anymore, but it’s still sitting there. It’s still doing whatever it’s doing. You just can’t put any more money in it. Well, the five-year clock started when that account was first funded. So this is good news because you have the ability to control when the clock starts by simply opening a Roth IRA and funding it at its very minimum level. Most of them could be open for 25 or 50 bucks and the clock begins. And of course, you have to be at least 59 and a half. That’s the second part of the rule to be able to get those tax free withdrawals. But know that when that money comes out of the Roth TSP into a Roth IRA, we don’t want the clock to start over, but it will, if you don’t already have a Roth IRA account established and funded.
I guess this begs the question, do you want to do this alone? Do you want some guidance on how to make all this work? So you’re sure to get all of the goodies that come along with a Roth account. That’s, of course, why we partner with financial professionals throughout the country that understand how these things work and can help you to get those strategic advantages.
Next question. If I were to transfer my Roth TSP to a Roth IRA, do I owe taxes on that money? And how about the traditional? So, when you’re transferring money, this is the act of the money going from one custodian, which is in this case the TSP, to another custodian, that might be Fidelity, or any of these accounts that are out there. When that happens, when it goes from company to company, you don’t pay tax on it. Because they’re the same type of account, they’re traditional to traditional, Roth to Roth. So no taxes are due at that time. You’re only taxed when the money comes out of your account. And again, that’s only on the traditional side because presumably we’re meeting the five-year, 59 and a half rule for the Roth side, and then you won’t be taxed on that money when it comes out.
But it’s not to say that if you put your money in a traditional IRA, you’re not taxed. You’re not taxed at the time of the transfer, but you will be taxed when the money eventually comes out into your wallet.
Next question we get an awful lot of is, required minimum distributions. If you remember on the Roth IRA slide that we reviewed earlier, RMDs are not required on Roth IRA accounts, but they are required on Roth TSP accounts. This is so bizarre. They had to go to great lengths to make this rule happen because it’s so contradictory to the Roth IRA rules that exist in the private sector.
The required minimum distribution will be the dollar amount that you have to take will be based on the entire account balance, both the traditional and the Roth side when you reach that age of 72. And so every year they look back to the prior year, December 31st of what the account balance looked like at that time, there’s a percentage of that account that you have to take, and you must take that from the account itself from TSP. The good news is you can choose to take it out of the traditional or the Roth side of your account. So you have a little bit of a choice here, which is important. But Roth IRAs are never subject to RMDs and they’re never considered in an RMD on the traditional IRA side. So, they’re completely separate from one another. But for some reason, the TSP has decided to put these two pieces together. And it’s really disadvantageous to most people because you’re trying to let that Roth account grow for as long as possible. And frankly, you want your traditional side growing as long as possible as well.
Last question. How do I know if contributing to the Roth TSP is right for me? Of course, this is a loaded question. And our answer is: it depends. There’s really no right or wrong answer, but I would argue making a decision from an informed state of being is way better than a guess. You don’t want to assume that things are going to be great for you in a Roth TSP or vice versa, that it won’t be good for you.
Consider this: if you have all of your money in either the taxable bucket or the tax deferred bucket, that was the red bucket and the green bucket that we talked about earlier, this would be like your traditional TSP. This means that in retirement, you don’t have any choices to maximize the opportunities like minimize the tax obligations in retirement. And you don’t have the option to avoid those other undesirable consequences, the things that happen to you that you don’t even realize affect your TSP.
Let me give you a great example. This morning, I was talking with one of our speakers and he said, “Chris, one of the big things that’s the aha moment for feds in these workshops is that they don’t realize when they take a bunch of money out of the TSP, the traditional TSP, maybe they’re paying off their house. They’re taking a big chunk for a child’s wedding. They want to do something for one of their grandchildren for college, but it’s a big chunk. They have to pay tax on all of that money. And that’s only one part of the problem.”
The other part is, if we’re at a situation where you are, say on Medicare. You’ve enrolled in Medicare Part B, and you have a premium set every year, that you have to pay monthly. That is affected by the income that you take from the TSP. And because you had no other choice because you didn’t have any Roth-styled accounts, you couldn’t make a different choice to minimize the tax obligation that you had and avoid that undesirable consequence of your Medicare premium going through the roof, because it looks like you make a boatload of money.
So it’s something really important that I hope you’ll appreciate that all of these things are interconnected. And it makes sense to really get clear on this, so that you can make the choices that are best for you and your family.
We have to ask, did we get your attention? Hopefully, even if there’s still some unknowns rolling around in your head, at least, you know you need to go figure this out. You’ve got to be proactive in your tax strategy in retirement, because we want you to be in a lower tax bracket because you planned to be there. You took the appropriate steps early enough in your career to put you in a better tax situation later.
Hopefully, today’s session has helped to at least get those wheels turning and begin to think through whether this is the right step for you. Of course, TSP and tax diversification is one part of your overall retirement. You’ve got to do the Paul Harvey, right? Get the rest of the story here.
We encourage you to attend one of our workshops. We have still some virtual options available. We’ve got a lot more live options available now. So, we’re glad to be getting back to “normal.” There is no cost to attend our workshops. So, we’d be delighted to have you there.
Many of you have joined us in the last year and a half on our virtual sessions through COVID. If you know that you just didn’t quite get your brain wrapped around everything the first pass that you had through this material, please come back and join us again. Get to one of our live sessions, run back through the virtual session to get nice and clear. But we, of course, cover all of the topics that you’re going to be needing to make a lot of decisions on in retirement in our workshops. TSP, of course, is a big one. And we want to make sure that you get clear on that as well, but lots of different facets aside from the tax diversification piece that you need to know about.
You can find all the details of our workshops and all of the available sessions, if you go to fedimpact.com/attend. Happy to have you join us in one of those sessions.
Like I mentioned before, we do have the handouts available that you can download right now while you’re still in the webinar. Otherwise, we will be emailing them to you, as well as the link for the replay. If you miss this, if you need to listen to it one more time, maybe a couple of times to really get it, we’d be delighted for you to do that.
Our next webinar is all about the Federal Employees Group Life Insurance, and the choices that you have in retirement. We have way too many feds that go into this decision blind, only to regret the choices that they made in retirement.
So if you’re thinking about all of the strategies, not only tax diversification strategies that we talked about today, but all of the other strategies to put yourself in the best financial situation and protect your family in retirement, you do not want to miss this webinar: FEGLI Choices in Retirement, do you keep it, do you ditch it, or do you customize it in retirement? We’re going to help you to do a deeper dive into each of those options. You can sign up for that session at the same place that you signed up for this one, at fedimpact.com/webinar. Hopefully, we will see you there.
Thanks so much for joining us today. I know that this is an awful lot to take in. Hopefully, we’ve got the wheels turning for you, for you to really dig in, to determine whether the Roth TSP option is ideal for you and really get your tax diversification strategy started as early as possible. Thanks so much, and we’ll see on next month’s webinar.
Register for our next 30-minute webinar: FedImpact.com/webinar
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