The TSP can be complicated at first, but after watching this video I hope you’ll have the confidence to manage your TSP investment allocations and contributions.

I spent a little over five years as an Army Infantry Officer, left the military and worked at Goldman Sachs as an Equity Algorithmic Trader for a little over two years, and am currently pivoting careers to go to medical school. In this video, I’m going to walk you through how to navigate the TSP user interface using my own TSP account, and demonstrate how to change your allocations and which funds your money is invested in. I also walk you through how to change which funds your future contributions will go to.

My advice is to participate in a ROTH TSP and either invest totally in the C Fund, or equally across the C, S, and I Funds if you seek a little more diversification.

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#ThriftSavingsPlan #TSP #Government401k
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DISCLAIMER:
The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter….(read more)

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How to Change Your TSP Allocations and Contributions (Step By Step Guide)

The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees and members of the uniformed services. It offers a range of investment options and provides participants with an easy way to save for their future. However, it is important to periodically review and adjust your TSP allocations and contributions to ensure they align with your long-term financial goals. In this article, we will provide a step-by-step guide on how to change your TSP allocations and contributions.

Step 1: Log in to your TSP Account
Start by logging in to your TSP account on the official website (www.tsp.gov). Enter your account number or username and password to access your account.

Step 2: Go to the Contribution Allocations Page
Once you are logged in, navigate to the Contribution Allocations page. This page allows you to set the percentage of your salary that you want to contribute to each TSP fund. You can choose from the different funds available, including the government securities investment (G) fund, common stock index investment (C) fund, small capitalization stock index investment (S) fund, international stock index investment (I) fund, and lifecycle (L) funds.

Step 3: Adjust Your Contribution Allocations
On the Contribution Allocations page, review your current contribution allocations. If you are satisfied with your current choices, proceed to Step 4. However, if you wish to make changes, enter the new percentage you want to contribute to each fund. Keep in mind that the percentages must add up to 100%. For example, you may choose to allocate 50% to the C fund, 30% to the S fund, and 20% to the I fund.

Step 4: Review and Confirm
After making your desired changes to the contribution allocations, carefully review your choices to ensure they match your investment strategy and risk tolerance. Take into consideration factors such as your age, retirement goals, and market conditions. Once you are satisfied with your selections, click on the “Save Allocations” button to confirm your changes.

Step 5: Adjust Your Contribution Amount
If you want to change the amount you are contributing to your TSP account, navigate to the Contribution Amount page. Here you can specify either a dollar amount or a percentage of your salary that you wish to contribute. If you are satisfied with your current contribution amount, you can skip this step.

Step 6: Review and Confirm
Once again, carefully review your contribution amount to ensure it aligns with your financial goals. Take into account your budget, expenses, and the need to save for other financial obligations. After reviewing, click on the “Save” or “Confirm” button to complete the process.

Step 7: Verify the Changes
To make sure your changes have been successfully processed, review your TSP account statement or transaction history. This will provide confirmation of your new contribution allocations and amounts.

In conclusion, it is crucial to periodically review and adjust your TSP allocations and contributions to ensure they meet your long-term financial goals. By following this step-by-step guide, you can easily make these changes through your TSP account online. Remember to review your choices regularly, considering factors such as your investment strategy, risk tolerance, and market conditions to make informed decisions about your TSP allocations and contributions.