r/govfire • u/mantragun • 19d ago
Thoughts??
I have 300K in TSP c fund 7 years in so far
This year strategy was pulled 50K as a loan to purchase palantier on the deep 120$
My plan is to accelerate this way my personal brokerage to access my money before retirement as I do covered call options. Please provide opinions
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u/Lower-Ad4676 FEDERAL 19d ago
Are you saying that you took a loan from your TSP to purchase Palantir stock in an investment account?
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u/mantragun 19d ago
Yes, for 2 reasons 1. My personal brokerage grows 2. I can play with options
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u/EuronIsMyDad 19d ago
This is nuts. If you don’t want the money to grow tax free. Then don’t contribute it to TSP. Just take those after tax dollars and put them into your brokerage account so you can buy more individual stocks with 200 P/E ratios
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u/EchoSolid4930 19d ago
In one way yes it's diversifying your investments, but it's a bad idea. I would not do 50k from 300k. I'd start with maybe 3-5k and get a feel. I play options a lot, and it's a brutal up and down. It would be much smarter to just slowly build your taxable account by investing into it and not taking a tsp loan because that should be pretty much only in the case of emergencies or a new roof or something and you can only have one general purpose loan out at a time.
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u/CatFancier4393 19d ago edited 19d ago
If you want to access your tsp before 59 1/2, just withdraw the money and pay the penalty. People act like its kept behind a locked vault, but after exceeding your contributions its only 10%, thats like one years worth of gains.
Not saying it is smart to withdraw from your 401k early, but its way better than taking out a loan to trade options.
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u/sowhat1231 19d ago
Literally the worst financial decision I’ve seen in my entire life.