I’ve been contributing to my Traditional TSP for years, but behind on contributing to my Roth TSP and want to catch up. I have a taxable brokerage account with Charles Schwab that I want to use to fund my Roth TSP, maxing it out without affecting my monthly budget/cash flow.
Is this possible? The only ways to fund the TSP seem to be setting up withholdings through myPay.
Is it possible to transfer money into my TSP from a checking account or personal brokerage account?
byu/FirstTimeBuyer612 inMilitaryFinance
Posted by FirstTimeBuyer612
1 Comment
No, but you can increase the contribution coming out of your paycheck and in turn use a higher percentage of what is in your checking account for a period of time. Be careful not to max out the year too early if you do this or you could lose out on matching.
You could also increase your paycheck contribution and live off of the money in the brokerage, but there isn’t really a net gain here. It’s the opposite in reality as you have more access to that money where it is vice the TSP.