Fritz MarCia Financial http://www.opminsurancebenefits.com Offering People More Mon, 20 May 2013 23:23:01 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Are they going to raid your TSP? http://www.opminsurancebenefits.com/are-they-going-to-raid-your-tsp/ http://www.opminsurancebenefits.com/are-they-going-to-raid-your-tsp/#comments Mon, 13 Feb 2012 21:07:14 +0000 admin http://www.opminsurancebenefits.com/?p=394 The U.S. Senate recently voted to increase the debt ceiling, giving the government enough money to carry it through the November elections. What most people don’t know is the Treasury Department has been messing with their TSP. When the government starts to approach the debt ceiling, they cease issuing new securities to the G Fund. The government used the same “sleight of hand” last year when Congress was fighting over the debt ceiling. According to federal law they are supposed to restore the securities and lost interest. Luckily, they have been restoring it after each crisis.

The big danger here is: What are they going to do in the future when the you know what hits the fan? They can’t keep raising the debt ceiling forever. There will be a day of reckoning. Their is a very real danger that the government will use your some of your TSP money to fund the government in the future. The politicians would love to get their greedy little fingers on that huge amount of cash.

There are easy ways to protect yourself. One excellent method is to diversify your savings. If you are 59 1/2 or older, you can transfer all or part of your TSP into a Individual Retirement Account (IRA). From your IRA you can have more control of your retirement savings and sleep much better at night.

Fritz,
The Federal Benefits Guy

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