No. of Recommendations: 2
I am currently maxing out a Simple IRA (Self Employed) for both my spouse and I at $12,500 each, and I have been deployed to the middle east. I would like to start contributing to the military TSP Roth plan.
As you may guess, I don't qualify for the Roth IRA due to income phase out limit, so I have several questions:

1. Can I contribute to the military TSP Roth? Or, does my income prevent me from the Roth version of the tsp as well?

2. Can I contribute to the TSP in it's tradition form up to the limit of $18,000 minus the 12,500 that I'm putting in my Simple IRA?

3. Obviously, I would like to contribute to the Roth version of the TSP if possible, but if not, should I still invest in the traditional TSP or should I just start putting all that money and more into a regular investment account?

4. Embarrassingly enough, I've been sitting on a ton of cash (over $100K) and I now want to invest it. Would it be wise to keep costs low with a Vanguard fund(s) or put it in my Ameritrade Acct and do ETF's for the S&P and Nasdaq??

Thanks in advance for all of your help Fools!

CD
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.