The Thrift Savings Plan (TSP) is crucial for a successful FERS retirement. Federal employees need to understand how their TSP works and how to get the most out of it while they are working. Knowing these things will help ensure a successful federal retirement….(read more)
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Iam one of those employees that put money in and don't look at it. I have my money in the S fund.
Need advice.
If putting 10% in traditional can u then begin to put 5% in tsp Roth?
If your putting 10 percent in traditional can u then begin to put another 5 percent in a Roth tsp?
How do you lose matching if you max early? You did not elaborate.
Also, are you saying that if we put in 19,500 per year the government will automatically match it and it will become 39,000 with out investing in the different funds?
Do you have to invest the 39,000 into one of the funds or can it just sit there in the TSP and continue to be matched by the government yearly until you retire?
Hello! When is the last month that you can put in contributions for the year in order to make sure you max out at 19,500 per year?
How can I tell if they are matching or not? I missed the cutoff for the blended retirement.
As a federal employee for 7 years I’ve only had the traditional TSP should I change to a Roth TSP? Can I transfers funds from my traditional to a Roth TSP?
A lot of people like to talk about how good the Roth is but they never mention that you can’t pull it out of tax-free until you’re 59 1/2 so if you’re trying to retire before then and you pull money out of your Roth TSP you will still pay taxes you can only pull it out tax-free if it is “qualified”. Otherwise you end up paying taxes twice
Roth TSP is only tax free at retirement if you are 59 1/2 years old and it has been at least 5 years since your last contribution to Roth. A lot of people don’t talk about that so if you’re trying to retire early then Roth Tsp isn’t a good option.
Great vid!
VA RN I messed this up by putting a percent rather than dollar and it would max by September went three years without noticing. Thousands lost. Thanks for talking about this. I now max my Roth tsp at 26k. I just C and S the rest no thanks.
You know that Roth TSP is subject to RMD.