The TSP is a retirement plan for federal employees. It has limited investment options, but its simplicity and low cost structure makes it a powerful part of a federal government retirement plan. Besides the TSP, federal employees can receive other benefits during retirement including a FERS supplement, pension, social security, Read more…
What are the Tax Differences Between Traditional and ROTH TSP Accounts? One of the differences between a Traditional TSP account and a ROTH TSP account is in the taxation of contributions and withdrawals. For a ROTH account, you have to pay taxes on your contributions but the account can grow Read more…
If you’ve watched my stuff for any amount of time then you’ll know that I love the Roth TSP! Getting TAX-FREE growth is amazing and I recommend it all the time. But I have to be honest, it doesn’t make sense for everyone. There are 3 specific circumstances where Read more…
Is it time to part ways with your TSP (Thrift Savings Plan)? It has been a great place to save/grow your money during your career but are there greener pastures in retirement? Here are the most important factors to consider when deciding whether to stay with the TSP Read more…
Is 600k in your TSP really enough to retire? Or do you need 2 million like that one article said? Well there is only one way to find out! Let’s dive in. You Aren’t The Average Before we dive into the numbers it is important Read more…
Putting money in the TSP is easy. There are millions of federal employees that do it without incident every 2 weeks. But getting money out? That is much harder. At least if you don’t know what you are doing. Perks and Penalties The TSP has Read more…
I get it. You don’t want a mortgage in retirement. But taking a large TSP withdrawal to pay off the mortgage is probably not the best solution. At least if you care about how much you pay in taxes Good Intentions I think the famous Read more…
What Are Some Things to Consider Before You Withdraw Money from Your TSP Account? If you are separated from government service and your age is at least 59 ½, you can begin withdrawing money from your TSP account without restrictions or penalties. Before withdrawing money, however, you need to consider Read more…
Some decisions in life are forgiving and some are not. Some decisions have undo buttons attached while others are irreversible. Many of these irrevocable decisions are made all at the same time: Retirement! Here is a breakdown of what these decisions are so you can get them right. The Big Read more…
Deciding what to do with your TSP in retirement is a big decision! As your TSP is often the difference between a great retirement and a stressful one. And turning your TSP into an annuity is a big decision that should be made very carefully. Here are the biggest things Read more…
