How to Grow Your TSP to $1 MILLION in 2023 | Thrift Savings Plan Investment Strategies

Good info. Especially if you're younger.

This is great! Something not mentioned is the fact military service members can contribute up to 22500 annually to their Roth accounts! My wife and I contribute between the two of us 29000 not including the match! That’s more than double what a civilian couple can contribute!!

Thanks

What is your opinion on a 70%S/30%C allocation?

Retiring at 57.5 with MRA of 10 years, not planning on taking any distribution until well after age 59.5. I have most money in Traditional TSP but have as of 1 year been 100% in Roth TSP. No tax consequences if I tske any money out of the Roth TSP after 59.5 correct?

I’m about to ship out to BMT on Tuesday (the 18th) and I’m soaking up as much material as I can about the TSP.
Thank you for putting these videos out there and inspiring me to plan my retirement at the age of 24!

I'm about to retire very soon and I needed this. Thank you for the info!

Thank you for this. Extremely helpful

You have to think though, officer pension is quite different from enlisted pension. One most certainly can live off of officer pension exclusively.

Is it still possible to gain more when you're mid 50s and still has 15 yrs left in federal employment?

Hello. I’m new here! If your TSP has 2.2mil by the age of 60 why are not withdraw all of your money when you retire? Why are we making 4% withdrawals a year?

Do you think the 2055L plan is good to put all your contributions in? Currently putting 10% with 5% match with the post office

Hi I;m 67 years old retired , can I take myTSP traditional funds out and put into a TSP roth Ira ? I work part time now.

Thanks man. I'm one year in my civilian career. I greatly appreciate the content. Looking forward to see more.

Hi there
I have a question
I joined military in 2017 I did not changed for blended retirement b/c I did not know . Now on my LES retirement plan it says choice . what does that mean ? Should I still contribute to tsp I don’t get 5% match is it worth it . I thought to put 20 percent Roth and invest in stocks like c/s/f fonds. Any helpful tips for me thank you in advance

Thanks for this presentation, I had a question with the government in $33 trillion dollars of debt and counting, I wonder where they are going to get the money to cover the interest payments, social security, Medicare, and Medicaid? Do you believe maxing out the TSP is still smart, maybe just get the employer contributions, put the other overage in a brokerage account, max out the Roth, at least when you hold assets over 365 plus days your taxes will go down and you are not charge whatever your tax rate is. Why is your thought on this?

Thank you for sharing!!!

Your High-3 calculation is based off of your “Basic Pay.” As a Federal Employee, basic pay includes:
 
* Base salary,
* Shift rates, and
* Locality Pay

Great information. Still trying to understand why OPM includes FERS, TSP and Social Security as part of the civil service "retirement" program. Also, I often recommend folks to consider the time value of money since the value of $1M now will likely be less than that 25 years from now.

This is very true. I entered service in 05’ and all I was told is just put 5% and leave it alone. In 2015, and older coworker took time and explained to me, and show me how to really used it. I grew my TSP substantially ever since. Where ever you are Doggie, thanks.

They offer training now people just have to sign up for them also there is great podcast called the federal employee financial planning podcast very informative with certified financial planners who specialize in working with federal employees.

G- unit 😂

Subscribed, Thanks

As an E-4, 23 year old, I’m currently investing in C(70%) and S(30%) funds with a 10% contribution. My question is:

As every year goes by and rank up, should I increase my % contribution by 3 percent to retire as a millionaire in the next 17 years?

My goal is to have 1.5 million in my TSP account at 62. My fund will have to average 7% per year over the next 12 years to reach this goal. At that point I plan to move 500K into the G fund and leave the 1 million dollars invested in the C and S fund. I will take withdrawals from the G fund for 8 years before I move money from the stock side again (i.e., two buckets).
At this time one can’t control where to pull money from within the TSP; do you believe this will change in the future? There is a work around to this issue but it’s not ideal. Thanks for all the good information. The advice you’re giving is priceless.

I put all my TSP 50% C funds, 25% on the S fund and 25% on the I fund. Do you recommend to contribute on the TSP roth IRA if so what percentage

So great, thank you!

Excellent advice

How do I schedule the free consultation? The website only takes me to paid sessions

GGG-Unit fund 😂😂😂

Glad I found this video 🥂

G stands for G-Unit 🤣🤣🤣

Is there a reason you suggest 5% in TSP and 10% in Roth IRA instead of the full 15% in Roth TSP?

Good morning,
Although I have 30yrs of service under my belt, under the FERS MRA+30 I can only retire when I turn 57yrs old. By then I will have worked for the federal government 33.33yrs. I am banking on getting my pension, SRS and my TSP. For as long as I have been working for my agency there has never been any kind of consultation of how to manage your TSP.

I like G-unit😂

Instead of saving for retirement or waiting and hoping on retirement benefits, why not Invest for retirement? I can't imagine what my life would have been if i spent time understanding TSP, 403b, 401k, etc. I'm better off with a well diversified portfolio.