The TSP (Thrift Savings Plan) is the largest employer sponsored savings plan in the world and it (or at least should) plays a huge role in the retirement of every FERS federal employee. Thousands of millionaires are made every year just from effectively using their TSP account. But Read more…
Question Hi. New subscriber here and now a regular viewer. What closing price do we get when we do an interfund transfer? Is it that day when we submit the interfund transfer request, or the next day? I kinda know the answer but I’m not so sure. Hope you can Read more…
I recently got this interesting question from a subscriber: “Should I retire at 60 vs. 62? I know that I’d get the FERS supplement if I retire at 60 but I’d get the 10% pension bonus if I retire at 62. How do I do the math to Read more…
Now don’t get scared after reading the title. Retirement can be and should be a great time. I hear many success stories all the time about feds who absolutely love retirement life. But, I also hear many other stories of things that really took some federal retirees by Read more…
Question One thing my Financial Advisors did to lower our retirement taxes was to convert our TSP Traditional to an IRA Roth and pay the taxes now within the next couple years. The reason was to ensure we are not in a higher income for Medicare Part B is one Read more…
Benjamin Franklin once said this now famous quote: “An ounce of prevention is worth a pound of cure”. In other words, planning ahead to prevent a problem is often way easier (and cheaper) than having to deal with it when the problem finally boils over and hits us square in Read more…
Question Can I contribute external money from an existing non-TSP IRA account to my existing Roth TSP? Answer You can transfer a traditional IRA into your traditional TSP however you can not transfer a Roth IRA into the TSP at all. The only way to transfer after-tax money into Read more…
The TSP (Thrift Savings Plan) is an incredibly convenient and effective tool in building wealth. It allows employees to take money straight from their paychecks and invest it while also getting great tax advantages. If you invest in the traditional TSP (this is where most Fed’s money is at) Read more…
Work is an incredible thing. When we enjoy our jobs, it gives us a forum to think, create, and contribute. But unfortunately, (as we all know) it can also be a major source of bureaucracy, frustration, and stress. For those that don’t enjoy their work, retirement planning comes a Read more…
