Over the last few years, healthcare costs have risen at around 5% a year and continue to be a concern for many. To help with this rising cost, the government made HSA’s (Health Savings Account) available as of 2003. HSA’s can be an incredible tool to save money on Read more…
The TSP is a great retirement saving tool, but how does it stack up next to other plans in the private sector such as a 401(k)? Let’s dig into it. In January of 2020 the average TSP balance was $138,933 while the average 401(k) balance was $112,300. The market has Read more…
This is another question that I get all the time. Am I contributing enough to the TSP? Or said in other words, how much should I be putting in my TSP? But just like many other questions in life, there is no perfect answer. If there was, it would Read more…
Would you be willing to move in retirement to save money? Many federal retirees are, especially if they live in a state with high taxes and a high cost of living. And while we all know that where we live is not completely a financial decision, how the numbers stack Read more…
This is a very common question that I hear all the time and I can see why. Many people, as they approach retirement, have paid off all their debt except for their mortgage. They have saved diligently in their TSP and they have a good sized nest egg. It seems Read more…
The TSP has served you well over a long career but now it is time to retire. My retiring clients often say things like “Is the TSP still the best option in this new stage of life? Some people talk about moving it to an IRA, but all I’ve known Read more…
A couple weeks ago I wrote an article about some of the big concerns that come with taking money out of your TSP to pay off your home. In response to that article, someone asked a great follow up question. They wondered,for those folks that might be a little younger Read more…
Growing up, I played a lot of sports and I hated being average. I wanted to be the best and win at everything I did. And this mentality has stretched over to school, work, and family life. I am always striving to be above average at everything. Everything, that is, Read more…
The corona-induced stock market slide nearly cut the number of TSP millionaires in half at the end of March 2020. This slide has made many rethink their investment plans and philosophies. After years of incredible returns in the stock market, it almost seemed like it would never end. But as Read more…
A federal employee reached out to me the other day and asked an interesting question. He is retiring at the end of this year, and has a medical procedure scheduled in the next few months. This procedure will keep him out of work for about a month and he wanted Read more…
