TSP will be done through payroll, but your ROTH IRA will be funded directly by you. Yes you can transfer money from savings or checking into it. Who is your ROTH IRA with? Do you currently have your bank account linked to it?
Proud of you for wanting to get started on a path and learning the basics is the first step.
WestEdTom on
I only transfer others peoples money into my TSP. It’s the perfect crime.
Chemical-Power8042 on
TSP is an employer based retirement account. In order to put money into it you have to do direct deposit into your TSP. Basically set up and allotment on my pay and you never see that money. It goes right to TSP.
With an IRA you can put money in there whenever you want. Grandma gives you $50 for your birthday. Cool transfer it to your IRA and invest it.
3 Comments
TSP will be done through payroll, but your ROTH IRA will be funded directly by you. Yes you can transfer money from savings or checking into it. Who is your ROTH IRA with? Do you currently have your bank account linked to it?
Proud of you for wanting to get started on a path and learning the basics is the first step.
I only transfer others peoples money into my TSP. It’s the perfect crime.
TSP is an employer based retirement account. In order to put money into it you have to do direct deposit into your TSP. Basically set up and allotment on my pay and you never see that money. It goes right to TSP.
With an IRA you can put money in there whenever you want. Grandma gives you $50 for your birthday. Cool transfer it to your IRA and invest it.