This video will be covering the Thrift Savings Plan (TSP) for Military members. Military members tend to not take full advantage of the Thrift Savings Plan retirement account and to understand the makeup of this account. In this video we will be discussing fund makeup, fee structure, contribution levels, and difference between a ROTH IRA and ROTH TSP.
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DISCLAIMER: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view here.
One singular mission: Share with every viewer the best kept secret in the Financial Wold! It’s a secret that money managers don’t want you to know about. Here it is:
You can own/trade individual stocks, etf’s, own index funds and limited partnerships or bond funds all within your roth ira account! The secret is in the type of account you need to start. The self managed account.
You will not hear this from your financial planner. This relatively new service is available to anyone who opts to take charge of their own financial future and can do so by starting a self-managed Roth IRA. Any roth account will provide tax shelter and allow for contributions and earnings to be withdrawn at age 59.5 years old. However, only a self-managed account can maximize profits through wealth preservation by eliminating fees charged to traditional investment accounts. Cumulative growth, dividend re-investment and compounding interest can all work to maximum potential for you free of the damaging effect of fees from traditional managed account types.
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No too accounts are the same. Investment tolerances differ. That makes it even more important for you to pay attention to and learn some of the basic terminology, potentials, account types and use them to align your specific financial plan with your financial future.
See what it’s like to become an Independent Investor. It may be the most financially liberating move you could ever make in your life!…(read more)
LEARN MORE ABOUT: Thrift Savings Plans
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HOW TO INVEST IN SILVER: Silver IRA Investing
The ability to contribute to both a self managed ROTH IRA at $5,500 per year and the potential to contribute $18,000 per year to the ROTH TSP gives the military member a great opportunity to tax protect and wealth preserve money throughout a persons career!! Enjoy!
I inherited a traditional IRA, roth IRA and a 401k. I'm enlisted but will be an officer soon. I need to liquidate those IRAs within 5 years of inheritance according to federal law. I never used TSP… can I roll these into TSP?
How do check if you're in the roth tsp or the traditional tsp?
I appreciate this video brother.
Very helpful! I started my tsp since basic training only because we were almost made to by our drill sgts and I’m glad they did. I still know little about it so my question is, is it wise to have both traditional and Roth?
Thank you for the information. For me, the topic that gets overlooked is the end result. At what point do you have to stop contributing to the TSP? You speak of retirement, but what retirement? Are we talking retired from the military or beyond that (i.e. 67 years in age). When I retire from the military, can I still contribute to the TSP account, or is it done? When is done? These are questions I feel that are not answered in general when the conversations of TSP happen, which is why there are still a large number of people who do not invest.
This was EXACTLY the information I was looking for, glad I stayed around to watch. Thumbs up and Subscribed!
Dude for the love of god get to the meat and potatoes already. I spent about 12 minutes for you to finally get to speaking about numbers. FFS
Thank you so much for this video
Really really spectacular video. Thanks for all of the information
They default you to a lifecycle fund now.
thanks for the information. can you do a video on how to read the TSP statement? is there a penalty to move funds within TSP?
I’ve been in the military for I’ve been in for 2.5 years and I’m getting out when I hit my 4 year mark, so far I’ve put all my money in the g fund. Should I switch to a different account even though I’m getting out in a little over a year??
I've been active for almost 21 years, and looking to retire in 2 years. Unfortunately, I have never invested in TSP. Until watching your video, I've known very little about it. At this point in my career, is it even worth investing in the TSP? If so, where within TSP should I invest? Thank you for your time.
Thank you! Great information also for a civilian employees
Sir,
Just out of curiosity,
when I initially enlisted in 2012 and we had a gentleman come from finance and talk about this and gave us a paper to sign up, I could have sworn I did just that.
When I commissioned a few years ago there never was a account set up and I started it in 2015.
My question is there is no way to go back and find out if I can retroactively get those funds back from when i was enlisted from 2012 to 2015 is there?
thanks
Thanks for the video, good information. Been contributing to TSP since 2014, finally pulled out of G-fund in early 2016.
I know this video is old but what would the penalty be if a withdrawal the profits early? Like for instant I have 500k in my tsp account and I wanted to retire before I turned 60
I have been with the agency just under a year and a half. I contribute 10% to my TSP and 2% into my Roth. I have approximately $9,400 in the accounts. total. The way it is sounding is that I should definitely contribute more. That goes without saying. And also consider the L2060 once it comes out. Would that be a safe assessment? They told me nothing about smart investing when I took the job and my worst fear is looking back five years down the road and realizing that I made a horrible mistake. I really appreciate you getting back with me on this and I am loving your input.
First let me thank you for your video it was so helpful. I understand your disclaimer about not being a financial planner but I would like to ask you a question. I work for DOD, I have worked for them for just over a year. I am 43 and plan on working the next 20+ years. I have no other retirement. I am currently in the L2040 but I feel I should attempt to catch up from lost time. If it were you would you invest the way you mentioned investing in the C S and I funds or remain the the lifestyle fund that I’m in.
Thanks! This is a great primer! I am a parent of a brand new 19 year old soldier who is too busy and to uninterested to learn about TSP. One question: Does planned length of career say 4 vs. 20 years alter your approach?
At this point I am thinking he should go 5 to 10% into the Roth side C fund. At this point he is able to save the vast majority of his pay. He has a net worth over $20,000 mostly in cash savings (he was a lifeguard for 2 years prior to the Army). The comments here are very helpful too. Sand to hear of young people in the service who do not take full advantage.
Wow so helpful thank you ♥️
Thank you for the video. Great job. You've got my subscription
I ETS from the Army in 9 months can I still open a TSP ?
How soon can a recruit sign up for the TSP?
I have a question about the lifecycle fund I’m joining very soon active duty and I have no clue how to invest properly I don’t know which are safe and how much I should put in so I think I’m going to do the lifecycle one but does the lifecycle automatically invest your money for you or does it give you a list of markets that are safe?
Thank you for this! Extremely informative!
Great video, especially for me with zero background info. I am curious when can I get the money out of the plan, and what would the penalties be if I get the money out earlier than it suppose to be. Appreciate in advance
Thanks for these Important information! Active duty Army. Thanks for the video!
Ryan, I am currently employing the seasonal strategy from TSP SMART. Im interested what your take is on this methodology.
https://tspsmart.com/Seasonal-Investing
I learned about this in march of this year….. after Ive been out for 3 years…. rolled everything into the C. I unfortunately only did a decade in…. med sep… tried to fight it in d.c. but it didn't work out…. 20% or ffd fail my first pt, and out with nothing. took 20 and still fighting the VA…..
Awesome video! Very well explained. As an active duty Marine, this has helped me out a lot
Thank you for the info! This video is great. It's unfortunate that I have to resource out to youtube to find info on this topic and the importance of investing. I've been in three years and just now starting. Better late than never. What advice would you give to a young active duty soldier enlistee thats hungry for investing and is 4 months in his first deployment? Thanks in advance
Thank you for the thorough explanation! As an AD military member, I found your explanation of the TSP a lot more easier to understand than the three to four financial advisers I've spoken to on base. Like some people have said in the comment section already–a must watch video for all military members.
As a brand new Naval officer, thank you for this video. It was incredibly informative. It's a shame you only have 2000 views on this video. This should be mandatory viewing for all new military members! Thank you!
Awesome, I ship to basic at great lakes tomorrow. Glad I watched this before I went. thank you
i would like to know more about the g,f,c,s,i funds.what do they stand for and can i choose them? thank you
After a 20 years of service what financial benefits are you entitled besides a lump sum from the TSP and your monthly retirement check? Can you also receive SSI?
Active duty Marine. Thanks for the video. And I agree, none of my peers know about any of this, they really don't spend enough time telling you this stuff when you first go active duty.
Man! great video. I am behind the power curve though…
This was a great video!
Just enlisted in the military and leave for basic next month! Thank you for this! I’ve heard from active duty members knowing little about the TSP or finding out a little too late.. definitely something I’m going to invest in right away! Thank you again for this information!