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Thread: help, need a check up :)

  1. Default help, need a check up :)

    Hello, I was wondering if some of you can take a look at what I have going right now. Just want to make sure I do everything I can to increase my tsp.

    Currently a gs-6 making $53k/year no potential for further promotions. I'm contributing 20% to tsp. I have 15 years on the job 40yr old.

    Current tsp balance is $101k. I've been off an on s and g funds. Right now g fund.

    Any suggestions on what I can do to grow this or what positions I should be in? I plan on working another 17 years.

    I just feel that I am below average.


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  3. #2

    Join Date
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    Default Re: help, need a check up :)

    Wow! Big question! Very hard to answer, read and read around the Forum or Join one of the Pay For Services that are offered. Check the Services and see how they are doing. If you want to do it on your own a lot of us do. Participate in the forums and ask questions. Best of luck.



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  5. #3

    Join Date
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    Default Re: help, need a check up :)

    With the matching, that equals 25% of your salary or $13,250 per year.
    You are still below the contribution limit, so you can always contribute more but I'm sure you need money to live on currently so that may not be an option.

    In how to maximize your rate of return--it sounds like you are trying to time the market if you are on & off in S & G, which is very difficult for anyone to do consistently. I would not even try to advise you on how to time the market. The G Fund keeps you from losing money but returns are currently very low. Suggest you look at your annual TSP statements and compare your rate of return to the different funds, including the L Funds, for the same periods of time. What you ultimately decide to do will depend on your knowledge & risk tolerance.

    There is a lot of information on the website. The best thing you can do is to read and learn as much information as you can about investing and select a method that you are comfortable with, whether it is buy & hold, using charts to determine when to get into or out of the market, etc. The other option is to subscribe to one of the paid services and take someone else's advice, but even with a paid services there are no guarantees.

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  7. #4

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    Default Re: help, need a check up :)

    I think that at 40 with $100K you are doing pretty well. Read and learn and don't be too negative. At 40 you are too young to be in the G except for big downturns. You also might rethink retirement at 57. Do you plan on collecting Social Security if that is still a viable option? You should come up with a plan with income and savings / investments to live into your 80s that includes inflation.

    Best of luck!

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  9. #5

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    Default Re: help, need a check up :)

    Quote Originally Posted by kthejoker20 View Post
    Currently a gs-6 making $53k/year no potential for further promotions.
    All your comments show a propensity to plan for the future and I would not say you are below average.

    There are many sites in which you can set your expectation on what you need to have for retirement and then that will allow you determine the path going forward.

    I do have a question about the quote above. I hate to be pushy on this subject as I am different than some people when looking at the future.

    The potential of further promotions is because of the job you have the availablility of a higher position non-existent? If that is the case, can I ask if you are happy with your job, and have you looked at training for something that might provide you with the ability to move out AND up? Would investing in a degree or certification program help?

    I know those are personal questions, but I wouldn't want to limit anybody from attaining a dream if they could invest in themselves to move out and up.

    If you are happy with your situation, then the question comes down to planning, sacrifice, and returns. Planning is the biggest part.

    Many are here for you no matter which way life takes you.

    Good Luck!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    Check my position

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  11. #6

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    Default Re: help, need a check up :)

    5, 7, 9, and maybe 11!



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  13. #7

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    Default Re: help, need a check up :)

    I would stick to the L2040 or pay for a premium service as was previously mentioned.

    There is always room to move around and grow in the government. You may also want to have a resume writer that is versed in federal PDs church up your resume.

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  15. #8

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    Default Re: help, need a check up :)

    Good advice so far. Look to a premium service on here for help with investing. At 40, you can be somewhat more aggressive. G is great for capital preservation during downturns, but you're going to need to invest in stocks or bonds (C, S, I, or F) to make any meaningful gains in your TSP account. A good premium service takes some of the guesswork out of when to be invested, and when to be in G.
    Good luck going forward.

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  17. #9

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    Default Re: help, need a check up :)

    You are getting some great advice here ...joker20. Just don't ever sell yourself short. There's always opportunity to advance your career if you are willing to work toward that and possibly move from your present location. I personally know a guy who started as a GS-1 and is currently a GS-14 ... no college degree, just a lot of hard work, focused on building strong interpersonal relationships and constructive communications as opposed to destructive, sought out all the training he could get whenever he could get it, and explored/found a career path that allowed himself to get to where he is -- the paths are out there if you look hard enough and understand the criteria. ... Just by your post and questions alone, I'd say you have a heck of a lot more to offer than perhaps you are giving yourself credit for both on the long-term financial and career fronts. Go for it man!


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  19. #10

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    Default Re: help, need a check up :)

    kthejoker20,

    You are in better shape than most Americans who have very little in retirement savings, see http://www.cnbc.com/2016/09/12/heres...etirement.html. FERS also provides a pension which many in private sector do not have.

    Rule of Thumb based on Fidelity's framework on how much you should save (they have changed it slightly over the years) for retirement:
    35 1 X Salary Saved
    40 2 X Salary Saved
    50 4 X Salary Saved
    55 5 X Salary Saved
    60 6 X Salary Saved
    67 8 X Salary Saved
    This article is a little dated but it explains Fidelity's rule of thumb and shows how people compare at time of study and addresses some of the factors to consider http://www.nirsonline.org/storage/ni...l_rsc_2015.pdf I think you need to look at your final salary less your annual TSP contribution because that is more of a reflection of what you are actually spending. There are other things like social security that also reduce your take home pay that you won't have in retirement.

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  21. #11

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    Default Re: help, need a check up :)

    Different savings approached are discussed in the section on TSP Strategies. In general, the more risk you undertake, the more return you can expect. So it is important to know your risk tolerance. Also, the longer time period you have, the better chance you have of recovering from a 'bad' year. This is the basis of the L Funds, that automatically put you in more G as you get closer to retirement. (But know that you will want to be in some % of equities, even in retirement, since retirements can last 25 years or so. If you choose L, choose one that is 20 years PAST your retirement date, or inflation will eat up your savings.)

    For saving amount guides, you can use The 1 thing Millennials need to know about investing - Jan. 18, 2017 from CNN Money.

    so, make sure time is on your side. You might want to think about postponing your retirement a few years.

    Good Luck in your investing. Just make your plan and stick to it!!
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Retired on December 31, 2018!!

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  23. #12

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    Default Re: help, need a check up :)

    With 17 years left to go according to your plan, don't be afraid to spend the next few years riskily in the stocks like the C and S funds. You have time still to make up for losses, and if they crash comes, you will still have time to make up for it. The market may go down, but the years following are usually big UP years!

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