Thrift Savings Plan: The Basics of the TSP (part 1)

“If you’re currently in the military and you’re not investing in the tsp, then you’re making a big mistake!” Yeah Yeah Yeah, a lot of people say that, but are they right? Yes! Even if you decided to hypothetically take out all the money after you get out of the military and not roll your TSP into another retirement fund (which we will discuss in another video, and is definitely a good idea), you will still make more money than if you hadn’t because of the 5% DoD contribution! If you have the Blended Retirement System (which everyone joining the military now automatically has) The DoD will automatically calculate 1% of your base pay and put it directly into your tsp, even if you don’t put in anything! BUT you should put 5% of your base pay into the TSP so that the DoD will bump up their contribution to 5%, totally 10%!! You can also do other cool stuff with the TSP like taking out a loan for yourself to fund other business goals, which is where that 5% additional from the DoD comes as an additional benefit. IT’S FREE MONEY!!! You’re doubling your investment everytime you put in 5% of your base pay. TSP Millionaire!

—-5 TSP Funds (technically 6 with the L Fund, but F that)—-

G & F: Bonds – Low return but you’re getting a same investment. Straight to the point though.. it’s not worth it. Not unless you’re over 50-55

C, S, & I: Stocks – You’re going to make much more money with this and it is going to scale much faster. It’s slightly riskier, but these funds have averaged high numbers for a while. If you’re under 50, we seriously recommend investing solely in these. If you’re less than 30.. honestly you’re just missing out on money for nothing.

We’re not saying to put $1000 a month into the TSP. For one, we think that’s pretty unreasonable, and two, we think it’s actually better to take some of that money and invest it into some other things. Yes you can become a tsp millionaire, but we’re talking about how your can make a million dollars in the next 5-10 years. NOT at retirement. But your should contribute at least 5% to get that 5% free money from the DoD.

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Welcome to Liberty For The Brave! The FIRST uncensored veteran YouTube page (yeah..challenge us) to show Active Duty Military & Military Veterans the very best ways to take advantage of their military benefits with real ACTIONABLE STEPS, while providing high quality and entertaining videos to remind you about the insane and funny shit that happens in the military.

You can get a lot out of your time in the military if you just take a little time to learn and apply your unique skills towards investing, personal growth, and networking.

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1) Discuss the best benefits overlooked by military veterans that you can start using now.

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5) To remind you of all the crazy times, from what was probably both the best & worst time in your life. Cause deep down…we know you miss something.

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