4:36 am, May 29, 2015

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  • 4

  • Max out TSP
    deployed decoy
    Unless USPO is limited to 10%, the max this year is $16,500. $5,500 more if you are over 50. I can do this maximum because even getting paid less than a GS12 in ND, I do receive a free place to live in Kuwait (in my case on permanent duty a nice apartment, in the case of someone on a 1 yr TDY a dry 8x16 foot dry shipping container). I have figured it out. Rat holing away the max TSP, purchasing a $1000 I bond every month and petty cash going to gold. I will lose money on my FERS retirement at 8 years. This assumes I could afford to put 10% into TSP if I was stationed inside the beltway for example and can live off the interest of TSP in retirement. One other key note. If you take a annuity on TSP you deserve to live under a bridge. Use your balance and take 4% a year. Assuming the G fund pays 4% it will take about 70 years to deplete the account. An annuity will pay less and leave your kids ZERO.
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  • TSP
    Uncle Sam only match dollar for dollar up to 3% and 50 cents on the dollar after that up to 5%, after that you are on your own.
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  • Matching
    It's a trivial matter but in reality Uncle Sam's matching maxes at 4% (for a 6% contribution). The additional 1% is added regardless of contributions. Still 5% free money but I'm a stickler for details. I will add though that some of us in the other professions on that list don't put everything in TSP. I put in a fair amount, and always at least 6% to get the matching, but I have other retirement accounts where I make contributions. This probably alters the results for the rest of us as about half of my retirement funds are outside of TSP. Everyone's circumstances are different but at least for me, I get better returns on other investments and keep my money from getting too concentrated in certain areas. Diversification is not much of an option with TSP.
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  • Correction
    Sorry, 4% for a 5% contribution. I always think of 6% since I like to even the total to 10%.
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  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }