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Thread: Long way to go but happy to be here

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    Red face Long way to go but happy to be here

    Hi all I've been a federal employ for just over 9 years now. Still long a way from hitting my TSP goal for retirement but I'm happy to have found this site.Personally plan on retiring as soon as I hit my MRA of 57 (about 24 more years to go), and can't wait for the day I join the TSP millionaire club. I was wondering if anyone has advice for young employees who are starting out. I have come across several of my coworkers who know so little about not only the TSP but other retirement benefits. We would love a seminar or any advice directed at young/newer employees.


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  3. #2

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    8,020

    Default Re: Long way to go but happy to be here

    Quote Originally Posted by OutBy57 View Post
    Hi all I've been a federal employ for just over 9 years now. Still long a way from hitting my TSP goal for retirement but I'm happy to have found this site.Personally plan on retiring as soon as I hit my MRA of 57 (about 24 more years to go), and can't wait for the day I join the TSP millionaire club. I was wondering if anyone has advice for young employees who are starting out. I have come across several of my coworkers who know so little about not only the TSP but other retirement benefits. We would love a seminar or any advice directed at young/newer employees.

    OutBy57,

    Welcome aboard.

    Sounds like you have the right mental attitude to do well. Everyone around here will have suggestions. Ask lots of questions and learn as much about your investments and how to control your money. Stay up on the latest that is coming out of Washington that could affect your retirement. If possible and you can afford it, try to maximize your contribution into your TSP account. You want to get those matching dollars.

    Good luck and hope to see more posts.
    May the force be with us.

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  5. #3

    Join Date
    Dec 2006
    Location
    Oregon
    Posts
    208

    Default Re: Long way to go but happy to be here

    Welcome Outby57!
    This is a great site, and ditto what Nasa1974 says.
    I would also like to suggest that you take a look at narfe.org. This is a group that has been fighting for current employees earned benefits and retirees earned benefits. Our main mission is to lobby on Capitol Hill to protect what we earned from the greedy little hands of our elected congressional persons. You can become a member for just $40.00 per year. Pretty cheap expense to support an organization that works hard for you in the Capitol. There is access to some areas of the legislative portion of the website to give you an idea of how NARFE works for all of us, retired and current employees. Thanks in advance for giving it a look.

    csh
    NARFE The E is silent, BUT WE ARE NOT.

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  7. #4

    Default Re: Long way to go but happy to be here

    My 2 cents worth is to invest as much as you can as early as you can. i.e. the longer your money is invested the longer it is working for you! Good luck with your planning!

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  9. #5

    Default Re: Long way to go but happy to be here

    Thank you all for the tips. Yes, I'm just starting to try maxing out my TSP I know time is the big thing on my side at this point. I have the bulk of my $ in the L2050 fund with any new $ split C/S for a bit extra risk bounce. I generally don't move my $ around too much rebalance about once a year to 90% 2050 10% C/S. I love that I just read they will be coming out with L funds every 5 years instead of 10. This early in my career I willing to take some risks.

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  11. Default Re: Long way to go but happy to be here

    I have been a fed employee for 29 years and have two more to go. The TSP has gone through some interesting phases and will continue to do so. If I could do it all over again I would defiantly contribute to get the matching 5%. However I would send at least another 10% to a discount brokerage account or IRA. I would love to be in the FAANG stocks right now or have some going to a commodity fund. If your desire is to actively manage your life savings, the TSP will be very frustrating. In my view the current monthly trading limitations in conjunction with few fund choices make the TSP a high risk low return option. Keep asking questions and you will find your best path. Best to you and yours.

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  13. #7

    Join Date
    Jun 2004
    Location
    Boiled Peanut, Georgia, USA
    Posts
    46,559

    Default Re: Long way to go but happy to be here

    Welcome OutBy57, you're at the right place.
    Best of luck with your TSP!
    Norman
    Links Crude Settle $46.79 07-20-2017
    -$.33 Loss




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