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Do you want to be a TSP Millionaire?
Of course you do, and here’s the best part…you can! Here are three habits that those with $1,000,000+ in their Thrift Savings Plan account follow
Therefore, so should you.
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cooper@fedretirementplanning.com
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As more and more people are becoming interested in investing in the Thrift Savings Plan (TSP), it is interesting to take a closer look at the habits of those who have become TSP millionaires. These are the people who have made the most out of their TSP investment and accumulated a significant amount of wealth. Here are three of the most common habits of TSP millionaires:
1. Consistency in investment
One of the most critical habits of TSP millionaires is that they invest consistently. They never miss an investment opportunity, and always ensure they are putting a fixed percentage of their income into TSP every month. This consistency helps them take advantage of stock market fluctuations. When the market drops, they continue investing, and when the market rises, they benefit from the gains. Over time, these small, consistent investments add up to significant wealth.
2. Creating a diversified portfolio
TSP millionaires understand the importance of having a diversified portfolio. They invest in various funds as well as adjust their investments as per their personal risk tolerance. By diversifying their portfolio, they reduce the risk of losing large amounts of money in case one fund performs poorly or the market crashes. They also take advantage of the different performance of each fund and the fact that the returns are not correlated. Diversification ensures that they have a more stable and consistent investment performance over time.
3. Avoiding impulsive decisions
TSP millionaires are cautious with their investments and avoid making impulsive decisions, thereby reducing the risk of losing money. They rely on self-control and discipline when making investment decisions. They know that on some days, the market can fluctuate widely, and emotions can easily drive their actions —they become anxious and panic when they see the market crashing— they ignore these emotions and stick to their set strategy.
In conclusion, the TSP millionaires have consistently invested a fixed percentage of their income in their TSP account, maintained a diversified portfolio, and avoided making impulsive investment decisions. These habits have enabled them to accumulate significant wealth over the years. By understanding and utilizing these habits, one can also make the most out of their TSP investment and become a TSP millionaire.
I'm back! Did you miss me? I missed you… What are some videos you'd like to see? Let me know!
Welcome Cooper!
Us military on business get 5% match
Put in at least 10% contributions, 50% C and 50% S, stay out of the G Fund, set it and forget it. Don't fret over the market fluctuations. This is how all young folks should invest in the TSP, the past funds performance speak for itself.
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I just started as a federal employee in 2019. I have my contributions set at 15% per pay period. I live at home w my parents and have no bills outside of a phone bill so I can afford to do anything w my TSP. What should i be doing?
Coop where’s the home gym ?
30 year federal employee. GS-12, 54 years old. 10% in the C fund. To young to retire and over 1 million in my TSP. Just boring same thing never changed or moved it. How to get rich slow.
I've always liked Cooper, I wonder when he'll come up for air . . . don't see him much anymore which is unfortuante.
Welcome back Cooper ! and best wishes with your son and daughter.
I am a healthy 70yrs old, and retired last year. I would like to earn more money on my TSP fund, for my kids to enjoy when the time comes. Its been in the G-fund for the last few years. According to TSP rules, I have to start withdrawing money at age 72. I plan to take out only the minimum amount allowable at age 72.
I like to switch from the G-fund to either the new L-2025 fund or to the rule of 10% G-fund + 90% C-fund.
What is your take on that ?
Thank you in advance.
This is very helpful! Cooper, Have you made a video (or blog/article) for TSP catch-up? Thank you!
I know you like Warren Buffet. Where I part with his advice is that I would take the 10% he would put in the G Fund, and I would add that to the other 90% in the C Fund. I just hate watching that sluggish G Fund. Even after retirement, it will be too boring.
Just got a government job, saw this video and I was like "What is the guy from GarageGymReviews doing here?!?!"
could use some advice right about now (Covid-19).
Is it a good to move into the c fund right now? Currently in g fund
Great information thank you!
Garage Gym Review or TSP information?
Keep making videos!
Help! I'm 34. Starting government job at GS-5, 5% in TSP. I'll bump it up to 10% after looking at this video, but what fund should I put my 10% in where I can JuST leave it? I want to make the smartest choice!!!
I was also wondering what you think of the 508 c1a I believe it is supposed to be a very easy free to do trust that helps you to not have to pay like any taxes depending on what you put in but I don't know what the downside is.
Hello Cooper I am desperately in need of a financial advisor who is experienced with the tsp I live in a small City of Pensacola and I am having a very difficult time finding anyone who really specializes in back even though this is a military town. Do you know anyone in this area or any National Organization or anyone that I could have as a financial advisor who specializes in a tsp! Please let me know at Marthadonna@yahoo.com.
Welcome back! I think stressing how beneficial the Roth option is would be a great topic. I know you’ve touched on this before but with taxes low, could be a great opportunity to build tax free wealth.
Welcome back!! You do make a difference!!
What bank do you use for savings account?
Thanks for coming back and congrats on your children!!!
I would like to be a TSP millionaire. I am 52 and half way there.. how do I make another 500K before I am 57? Am I too late?
my return rate is stuck at around 3%. What am I a doing wrong??
VIDEO IDEA FOR COOPER- One thing I wish was more transparent is this new BRS that is plastered all over the TSP home page. What is it, should someone opt into it, or are they pushing this like they did with all the CSRS when trying to get them to convert into the FERS? Most CSRS folks who transitioned in the FERS said they were pushing them very hard to convert, and in hindsight, they wish they never did it. Is this BRS situation similar?
Congratulations on your new family Coop, and thanks for helping the TSP community. Good will brother!
My problem isn't not investing enough or moving funds around too much. However, every year I get my percentage calculation wrong and I either invest less than 18,000 (or whatever the annual IRS limit is) or I deduct too much from my paycheck, reach the limit too fast and then lose out on the matching contribution for remaining months where I could have gotten matching contributions if I had deducted less every month from my paycheck to contribute to the TSP. There has to be a better way than me manually trying to eyeball my deduction percentage every year. Any suggestions? Thank you.
The secret to being a TSP millionaire is to max out your investments in the C, S and I… and turn off your brain for 30 years. I just lucked out that the market did great. The federal retirement plan, with the included health plan, is the bomb. Just be weary on how you take your money out, the "sequence of return" delima, especially in our current all time highs. But luckily for us, we have pensions as well… can't beat this man.
Is it worth it as a federal employee/service member to diversify and go outside of TSP into something like fundrise or other REITs?
I just subscribe