A thrift savings plan (TSP) is a retirement investment plan that is only open to US federal employees, military personnel, and members of other uniformed services. A TSP is very similar to a 401k retirement plan. You can move your thrift savings plan to a gold IRA. There are two methods that most investors will use to move their thrift savings plan over to a gold IRA.
You can rollover your TSP to a gold IRA by withdrawing your money from the TSP and depositing it into an IRA. This rollover process must be completed with 60 days, or the IRS will begin taxing your withdrawal. The deposit into your IRA must be made as a rollover and not as a contribution. The downside of this method is that mistakes can happen during the process which may result in tax penalties if you are unable to complete the process within 60 days.
The second method is the best option and the most popular. You can have your TSP funds transfered directly to one or more IRAs. This is a trustee to trustee transfer that goes directly to the new accounts. You don’t touch any of the money and you don’t have to worry about deadlines, mistakes, or tax penalties. You can have multiple IRAs and your TSP funds can be moved to each of those retirement accounts to support precious metals or other assets.
GoldCo is an A+ BBB rated company in California that offers IRA approved precious metals. They are professionals that can help you roll over your IRA into gold or silver, find the best custodian for your precious metals, and then ship your metals directly to a depository. GoldCo has 16+ years of experience helping customers setup a gold IRA.
Birch Gold Group is an A+ BBB rated company in California that offers a wide range of IRA approved metals. They offer various storage locations from Equity Trust, Goldstar Trust and STRATA Trust. They have 15+ years in the business and over 7,000 satisfied customers. They are a trustworthy gold IRA company that offers 1-on-1 care.
These gold IRA companies can handle the transfer of your TSP funds to a gold IRA. They will quickly setup your gold IRA and transfer over all of the funds directly from your TSP to the gold IRA. They can help you use those funds to purchase precious metals for the IRA and even move those assets to the custodian that will keep them secure in an IRS-approved depository.