Right now I am contributing the max amount and have been for the past 5 years working as a fed, but I have a baby on the way and that will bring on a bunch of added cost especially since we will have to pay for childcare. Just wondering if anyone has had to lower their contribution- for what reason and for how long?
Anyone have experience with losing half your tsp to your ex?
All said and done I’ll still have about $500k but I want to retire in 5 years. Any advice?
Hello, I’m currently 24 and am in the navy, I’m an E-5 right now and would like some investment advise for my tsp, I just switch my set up for 75% S fund, 10% C fund and 15% I fund, I would really like to maximize the growth I have in my account and wanted to know the opinions of different people or if there’s anything I could be doing better, I plan on increasing my contributions or max them out if possible.
Last Mid June I helped my husband to change his TSP funds from all G to a new mix , he kept all this money in G for about 12 years and me not knowing too much decided to go with the following mix :
50% : C
10% : I
10% : F
30: G
I have checked in how return is doing and it looks like is doing worst in July , about 0.95 compared to 1.7 was doing before , I am starting to feel concerned about it , it is normal ? Should I just leave it ? I was considering change mix again to a L 2045 by next year either way , any recommendations will be appreciated, thanks
Long story short, TSP told me I could rollover my Traditional Uniformed TSP to my Traditional Civilian TSP because I'm over 59.5 and then changed their mind after they mailed a check to themselves. They returned the check to me (even though it did not originate with me) and the check arrived at home today for my full rollover amount (no taxes withheld). It's addressed to:
Thrift Savings Plan
FBO: (my name)
Thrift Savings Plan
C/O Broadridge Processing
PO Box 1600
Newark NJ 07101 1600
And then it says underneath:
TSP Disbursement FBO (my name)
I'm unsure of the legal definition of "disbursement." Can I roll this check over into a brokerage IRA?
Do I have to cancel my current withdrawal setup/allotment & restart with a new allotment amount for withdrawals? I can't find an option to just change the amount. Something so simple! TIA
If I convert my TSP to an IRA I have to start RMDs at 72 1/2. My understanding is I can wait till I'm 73 to convert my TSP and invest another year without taking a withdrawal. Is that correct? I plan to take my IRA RMDs in the year I will turn 72 - birthday is in December.
I'm a 40+ year-old federal worker and I have about $130k that I want to put into a single TSP L (Lifecycle) Fund. I'm not sure whether to go with L 2045, L 2050, or something else. I’m actually really hesitant do do this and want to to know from others what they’ve experienced good or bad.
Leaving federal employer where should I put my tsp where should I put it in the mean time until I set up everything with my new employer? Leave it or? And if it takes time for my 401k it kick in what should I do with it?
I’m a T32 military technician (43 m). I’m looking at a medical retirement within the next 6 months. Most likely will lose my federal position and be granted federal disability (60/40). I’m 100% through the VA. I have $200k+ in my TSP. I have a family, mortgage, everything that comes with life. I’m looking into early withdrawal of my TSP because my condition will probably diminish my lifespan and I’d rather pay down my debt and use my money to enjoy my life now while I’m able. I know there are taxes and I’m fine with that, but I’m reading that you can get around the 10% penalty for withdrawing if you are disabled. Do I have a shot at that? I’m not disabled to the point I can’t do gainful employment. However my mental health isn’t going to allow me to do a medial job with little purpose or punch a clock after everything I’ve been through. What do I need to do to get around the 10% penalty. Appreciate everyone that has advice!
Age 26, Rank O-2, TIS is 4yrs, AFABD was five months after commissioning so have been contributing for 3 yrs 9 mos.
I contribute 10% (plus 5% match). Plan on doing 20 years (current contract will put past 10yrs TIS). Will up to 15% personal contribution once I pin O-3. Also going to start maxing a Roth this year .
Married, no kids. Wife is also AD Officer. She contributes 10%.
Any tips or pieces of advice?
I will be 62 next month and will start getting my (not full, I left after 17 years) pension. I can cover the rest of my expenses with 4% withdrawal rate. I currently have 70% in C, S and I funds and 30% in F fund. Given the current economic and political climate, I am debating whether I should move from the F to the G fund. Any thoughts are appreciated.
I was thinking to take out a TSP loan but I will be leaving the military in the next 3 months. Will I have to pay it back in full before I am officially out?
We all know that when the TSP web interface was switched over to a new firm, we lost access to records before 2010. I would like to get end of years statements for 1993 to 1997. I have W2's for 1998 to current so I can see how much I contributed each year of my career except for 1993-98. I believe you can request this but I have read of people trying and never actually getting anything. Has anyone had luck doing this?
Ok, I am looking for advice on what I should do to improve my portfolio. Please don't judge, I had a couple of crises that required 2 large withdrawals from my account. I am in a better place now and looking to make moves to improve my savings. I am 18 yrs in my federal service, still not in a position to come close to max out contributions. I contribute 5% now. I, unfortunately, am not savvy in this field. I elected 100% 2040 G Fund when I was first hired and never changed anything. Should I change my allocations? If so, what do you suggest?
Kind suggestions are welcome. Thank you in advance
Served for 6 years. Got out, did some contracting, and now am a Federal civilian NH-03 (0080). Been serving as a civil servant for close to 3 years now. I am currently 28 years old.
Admittedly, did not contribute as much to my TSP while I was a young/dumb airman. But, have two TSP accounts now becuase of my enlisted and civilian service.
In total the acounts sit right under 50k currently. Vested at 80% in C, 15% in S, and 5% in I funds. I contribute my 5% (Roth) with the government's match of 5% (from what i understand NOT Roth).
From what research I have done, the only conclusion I have come up with is: up my contributions, work civilian service as long as possible (30 years ideally, to take advantage of the government's early retirement incentives while still being under the age of retirement) and just sit and never touch it or even think about it until retirement time.
Is that the right strategy? I can't shake this feeling that even if i successfully do all of that.....i'm still WAY behind the curve if I want to retire financially worry free. Having my salarie's worth of $$$ in my TSP by the time I'm 30 seems almost impossible.
I appreciate any and all insight!
Would right now be a good time to move out of the G fund into the C, S and I funds to get maximum gains? I’m no longer with the federal government and I don’t have enough in there to retire on, just wanting to grow it some until I get into a private sector job that offers 401k that I can roll it into.
So I recently switched all future contributions to Roth, and I have a question. Since im not able to max out yet, wouldn't it be better to just take the extra and increase traditional contributions? For example say I do 1000 a month in a roth and pay 200 in taxes, wouldnt it be better to contribute 1200 into traditional?
I’m in the last few years of retirement and am starting to read on withdrawal strategies. So far, the Barbell Strategy seems like the best option for me. Gist is to funnel sufficient funding (30%) for set number of years where one can deduct from G fund while maintaining remaining 70% in C fund or whatever fund you choose. This ensures (in theory) to secure funding for next few years while still investing in higher yielding stock and allowing opportunity for market corrections.
I welcome any other strategies that you might share!
(Update/correction to terminology)
I just realized I did not understand TSP matching until I found this subreddit.
If I had done things correctly, I would have divided the max contribution limit of $24,500 by 26 pay periods to get $942 contribution limit per pay period. This is 9.8% of my gross pay.
If I want to max on my TSP matching, At least 480.65 should have been directed to TSP (5% of gross pay).
I was putting 15% total: 8% to Traditional TSP and 7% to Roth TSP really not understanding limits or matching until now.
As it stands, I have to rearrange some contributions, and at least try to get the 5% matching for 6 of the next 10 pay periods and lose out on 4 pay periods of matching.
Sub question- why might someone direct their contributions primarily to Roth vs Traditional TSP? I understand the differences between pay tax now (Roth) vs defer taxes (Traditional), but when do you decide what’s best for you?
For those that are in a similar pay bracket, If you hit the 24,500 maximum in TSP, are you then moving money to an IRA? I understand max contribution is $7000 (I’m under age 50). If I still have more to invest, is this when people start to consider a Backdoor Roth? I have no debt other than a mortgage.
Please guide me!