Hello 👋 I’m Lee.
Odds are, when you started federal service, your orientation didn’t go over how to take full advantage of the TSP benefits. Let me help!
If you would like a walkthrough tutorial of the website, check out this video!
#ThriftSavingsPlan #howtoretireearly #tsp
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This video is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions….(read more)
LEARN MORE ABOUT: Thrift Savings Plans
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2023 Thrift Savings Plan Performance Review | How my account performed and 2024 allocations
As the year 2023 comes to a close, many of us are taking stock of our financial investments and looking ahead to the upcoming year. For federal employees and members of the uniformed services, the Thrift Savings Plan (TSP) is a key component of their retirement savings strategy. The TSP offers a range of investment options, including various target date funds, and how your account performed in 2023 may influence your investment decisions for 2024.
In reviewing the performance of the TSP in 2023, it’s important to consider the overall market conditions. The year 2023 saw continued volatility in the financial markets, with various world events, economic data, and inflation concerns impacting investment performance. The TSP experienced periods of both growth and decline throughout the year, and the performance of individual accounts depended on the specific investment allocations chosen by participants.
For many TSP participants, the year 2023 may have been a mixed bag in terms of investment performance. The C Fund, which tracks the performance of the S&P 500, experienced strong growth in the first half of the year, only to see a decline in the latter part of the year. The S Fund, which tracks small and mid-sized U.S. companies, also saw periods of growth and decline. The I Fund, which tracks international stocks, faced headwinds due to global economic concerns. The F Fund, which tracks the performance of U.S. bonds, provided stability in a volatile market.
In evaluating the performance of their TSP accounts in 2023, many participants will be considering their investment allocations for the upcoming year. As the TSP allows for periodic contribution and allocation changes, it’s important to review your investment strategy in light of your financial goals and risk tolerance.
For those who are looking to review their investment allocations for 2024, it’s important to consider a few key factors. First, take stock of your current investment allocations and consider whether they align with your long-term financial goals. If you are close to retirement, you may want to consider shifting your allocations to more conservative options. Conversely, if retirement is still several years away, you may want to focus on long-term growth potential.
Another factor to consider is the overall market outlook for 2024. While it’s impossible to predict the future with certainty, considering economic indicators, corporate earnings, and geopolitical events can help inform your investment decisions.
Finally, consider seeking professional financial advice when reviewing your TSP allocations. A financial advisor can provide personalized guidance based on your individual financial situation and help you make informed decisions about your TSP investments.
In conclusion, the performance of the TSP in 2023 may have varied depending on individual investment allocations, and participants should review their accounts in preparation for the upcoming year. By taking stock of your financial goals, considering the market outlook, and seeking professional advice, you can make informed decisions about your TSP investments and set yourself up for financial success in 2024 and beyond.
What if you’re no longer with the federal service? And just want to grow my TSP and never touch until it’s time. Should I invest my tsp fund into C, S (60/40) or C, S, i (70/20/10)?
Been in federal service for 4 years. Really cracking down on getting my retirement in line. Been absorbing your videos. Appreciate your insight so very much. Love your transparency and humor. New subscriber!
Great job. My 457b is basically VTIAX with a small percentage in international and bonds. I manage my own Roth with Fidelity and it’s comprised of VTI, VUG and SCHD. That’s awesome you get a match. I pay into a pension
Did you keep all of your money in that manner the entire year? I recently moved my money to C and S and I'm trying to figure out how I'll invest for the rest of the year. Just curious.
I am a retired fed. I moved most of my money into a self-directed IRA. I keep a little in the TSP in case I want to send money back to the TSP. Always Max out the TSP if possible as a working Fed.