Being a Veteran, you are aware of many of the TSP options that exist for us current service members. I am currently enrolled in the Roth TSP and contributing consistently. While the TSP is great and easy to use, it doesn't offer much in the way of detail. My question to you is – would it be beneficial to have someone manage a TSP Account much like a portfolio? Do you think I should do a Roth IRA instead? Thanks!
With each Dollars and Cents video we want to provide some follow up links where you can get some additional information on the topic. If you are interested in learning more on how to open a Roth IRA, find a fee-only financial advisor, or look at your investments at a deeper level, here are some relevant reads:
- National Association of Personal Financial Advisors – If you want a fee-only financial advisor that can review your portfolio and long-term plan for you, this is the place to look.
- Best Places to Open a Roth IRA – I love the Roth IRA because you can pick out the specific investments. You have more control and there is more transparency. Plus, if you're not happy you can always find a new broker. This list is the best places to get started with a Roth IRA.
- Personal Capital Review – Nathan's problem with his TSP is the investments are generic and he doesn't really know what he's investing in. If Nathan opens a Roth IRA with a great broker he can use Personal Capital as a way to help get better clarity into his portfolio. It's a free tool that can combine all of your random accounts into one clear view of your overall portfolio.
- Personal Capital Video Review and Walkthrough – I like Personal Capital so much I had Kevin do a walkthrough for you guys on it. Best part about this tool? It's 100% free. Crazy!
- 8 Warning Signs You Need to Fire Your Advisor – Be careful when selecting a financial advisor. If you see these problems, cut bait and find a new one.