unknowneinstein
10-20-2011, 02:18 PM
Hey all,
My name is Ben. I am 22 years old and love money (who doesnt right?). I just started working, and thus contributing to tsp, about 3 months ago. I had it in the G-fund till I learned a little bit about it but now I have it allocated at 80% (S) and 20% (C). I attended a tsp class last week that taught me a lot of basic information I did not know about tsp, such as how G fund really isnt that safe because you risk losing money against inflation and how I-fund is a lot riskier than at first glance because you not only have to pay attention to the stock value but the currency value as well.
Anyway before this class I knew absolutely nothing and the class inspired me to really try to learn as much as I can, not just about TSP but about general investing, taxes, etc. I hope to become a regular participator on these boards. I know I am young but as most people say its better to start when you're young than to wait 10 years. I figure I have atleast 30 years to invest, probably closer to 40.
It would be much appreciated if someone could point me in the correct direction to learn about the 'basics'. I would like to know how people try to predict when to do IFTs and which funds to transfer it to. I know theres no sure way to predict it but there are probabilities associated with it. Also I know essentially nothing about the tax system other than I pay too much of it lol (I'm in the 25% bracket). So if someone could point me in the direction of learning about taxes, how to get around them and what I may be able to claim/deduct.
As far as investing in the tsp goes I don't care so much about risk. I played professional poker for 2 years so I can deal with days where I lose/make a large sum of money.
Any guidance is appreciated.
Thank you,
Ben
My name is Ben. I am 22 years old and love money (who doesnt right?). I just started working, and thus contributing to tsp, about 3 months ago. I had it in the G-fund till I learned a little bit about it but now I have it allocated at 80% (S) and 20% (C). I attended a tsp class last week that taught me a lot of basic information I did not know about tsp, such as how G fund really isnt that safe because you risk losing money against inflation and how I-fund is a lot riskier than at first glance because you not only have to pay attention to the stock value but the currency value as well.
Anyway before this class I knew absolutely nothing and the class inspired me to really try to learn as much as I can, not just about TSP but about general investing, taxes, etc. I hope to become a regular participator on these boards. I know I am young but as most people say its better to start when you're young than to wait 10 years. I figure I have atleast 30 years to invest, probably closer to 40.
It would be much appreciated if someone could point me in the correct direction to learn about the 'basics'. I would like to know how people try to predict when to do IFTs and which funds to transfer it to. I know theres no sure way to predict it but there are probabilities associated with it. Also I know essentially nothing about the tax system other than I pay too much of it lol (I'm in the 25% bracket). So if someone could point me in the direction of learning about taxes, how to get around them and what I may be able to claim/deduct.
As far as investing in the tsp goes I don't care so much about risk. I played professional poker for 2 years so I can deal with days where I lose/make a large sum of money.
Any guidance is appreciated.
Thank you,
Ben