Share Your TSP Balance and Your Age Thread

[Itchn2retire]

Age: 50
Balance: $533k
Years of Fed Service: 26 years
Investment Strategy: I have been a "buy-and-hold" guy from the beginning investing in aggressive funds and maxed-out my contributions pretty much the whole time. (with a couple of exceptions early in my career) Looking to improve my returns which is how I found this forum.
Misc: I'm already eligible for retirement but will hang around for a few more years (55) then I'm DONE! It is my intent to not draw on TSP until I am 60'sh.

Related Article: Average TSP Balances and How Investors Prepared for April Market Returns : FedSmith.com

Regards,
Itch'n

[catak]

Could you care to elaborate on using B & H strategy?

[Itchn2retire]

Could you care to elaborate on using B & H strategy?

For me I would not categorize it as a "strategy". For the duration of my career I just saved as much as I could and stayed in the aggressive funds and then I let time and the magic of compounding interest take care of the rest. After going through a few heavy dips in the market I figure I should take a more active role in managing my account which is how I discovered this site.

[tsptalk]

Perfect! Let it add up and percolate when you're young, and then get on top of it to avoid the disaster as you get older and accumulate something more substantial.

[Itchn2retire]

Coincidentally, Here is an article on this very subject that was posted today at Fedsmith.com. So all you young whipper-snappers that are new in your careers you should save early and save often.

How to be a TSP Millionaire. How to Be a TSP Millionaire : FedSmith.com Blogs

[Tennvol]

6.5 years of service, 39 years old, 104k in TSP. I have this site and Intrepid Timer to thank for being where I am now. I had no retirement prior to my EOD, and the first 2 years of Fed service were just minimum contributions. That changed when I found this site and got serious with thinking about future income.

[Maricar19]

Only had my TSP account 1 year so far, I'm 28 years old and have $7,400 so far after this next payday. I put in 8% right now with an agency matching 5%. I'll up it to 11% next year when I get a pay raise. Doing this on only 1 income, when wife graduates college and nails a job, I'll up mine big time.

Looking at a goal of $1 Million myself by retirement age. At least...

Hi Maui21ice- I noticed your profile says you are from PA- whereabouts? you don't have to answer if you don't want to--just curious!
You can PM m, too.

[Lakebound]

49 years old, 31 years of Federal service with military and Fed LE combined. Current TSP balance of 354K and working on getting to 500K in the next two years.

I will retire at 50 next year no matter what my balance is.

Frank

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[Maricar19]

49 years old, 31 years of Federal service with military and Fed LE combined. Current TSP balance of 354K and working on getting to 500K in the next two years.

I will retire at 50 next year no matter what my balance is.

Frank

Sent from my XT907 using Tapatalk

And Frank, with the rate you are going, in most probability, you'll exceed your $500k goal.
And as a LEO retiree, you can work an unlimited $amount without affecting your SRS until you reach your MRA, so more 401K instead of TSP...

[sushicam]

45 years old.
20 years of service.
$465K

Planning to crack the $3M mark by retirement in 20 more years.

Started out contributing 5%, but after my first year of working I was able to afford to max-out my contributions each year and have been doing so ever since.

[TwoYrs2Go]

49 yo, 580k balance. Retired two years ago with 500k and started withdrawing under the life expectancy rule to avoid the 10% penalty. Hope to have 800k to 1m by the time I am 59 and a half. Also went back to work a few months ago due to boredom.

The 2008 drop didn't hurt me as much as it could have as I left it alone gained it all back and more by 2010. I'd did leave me skittish which caused me to miss out on gains.

[OBGibby]

49 yo, 580k balance. Retired two years ago with 500k and started withdrawing under the life expectancy rule to avoid the 10% penalty. Hope to have 800k to 1m by the time I am 59 and a half. Also went back to work a few months ago due to boredom.

The 2008 drop didn't hurt me as much as it could have as I left it alone gained it all back and more by 2010. I'd did leave me skittish which caused me to miss out on gains.

Joined the forum in July 2011 and this is your first post - a good one at that!