A thrift savings plan (TSP) is a type of retirement investment program open only to federal employees and members of the uniformed services, including the Ready Reserve. It is a defined-contribution plan that offers federal employees many of the same benefits that are available to workers in the private sector and closely resembles a 401(k) plan. In this Retirement Concept video I will outline 6 pitfalls to steer away from if you own a TSP account.
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Insurance products and services are offered through Carson Graves, independent agent. Retirement Education Center, Carson Graves are not affiliated with or endorsed by the Social Security Administration or any government agency. All written content on this site is for information purposes only. Opinions expressed herein are solely those of Carson Graves, and our editorial staff. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell Investment Advisory Services to any residents of any State other than the State(s) Carson Graves, is registered or where otherwise legally permitted. Carson Graves, Retirement Education Center do not render tax, legal, or accounting advice. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Hyperlinks on this website are provided as a convenience. We cannot be held responsible for information, services or products found on websites linked to ours….(read more)
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Great advice. But the government only matches 1 for 1 on the first three percent. From 3 to 5 percent, the government matches 50 percent. So in your 5% example, it is $2500 from you and $2000 matching.
Very well done!