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Thread: New Member

  1. #1

    Talking New Member

    Hello everyone, I have been a TSP investor for about 17 years. Started out as a Federal Employee when I was 20. I did not even know what a 401K or the TSP was, but one of the old timers came over to me and practically forced me to contribute. Since then, I have either been on active duty or working as a Federal employee contributing from both incomes and therefore, have both a civilian and military account. From the time I started investing, it did not take long for me to see my ignorance when it came to savings and investing, but I have taken many strides since then. One point I have definitely learned was that I was lucky to have started investing at a young age. Like most people on the forum here, I am interested in learning more, having another resource, and reading other's investment perspectives. I have a goal of reaching more than a million dollars in my TSP account. 17 years ago, I would never have thought it could have happened, but now I can see the process working. I just want to get there sooner rather than later.


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  3. #2

    Join Date
    Jun 2004
    Location
    Boiled Peanut, Georgia, USA
    Posts
    63,124

    Default Re: New Member

    Quote Originally Posted by lettsj View Post
    Hello everyone, I have been a TSP investor for about 17 years. Started out as a Federal Employee when I was 20. I did not even know what a 401K or the TSP was, but one of the old timers came over to me and practically forced me to contribute. Since then, I have either been on active duty or working as a Federal employee contributing from both incomes and therefore, have both a civilian and military account. From the time I started investing, it did not take long for me to see my ignorance when it came to savings and investing, but I have taken many strides since then. One point I have definitely learned was that I was lucky to have started investing at a young age. Like most people on the forum here, I am interested in learning more, having another resource, and reading other's investment perspectives. I have a goal of reaching more than a million dollars in my TSP account. 17 years ago, I would never have thought it could have happened, but now I can see the process working. I just want to get there sooner rather than later.

    Welcome to the Forums lettsj!!! You know the penny saved thing, and it's working for you. Best of luck with your TSP!!!!!
    Norman
    10/19/2020
    LS CRUDE Oil
    =$40.83 a Barrel, Daily Status -$.05

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  5. #3

    Join Date
    Oct 2010
    Location
    Aiea, Hawaii
    Posts
    1,121

    Default Re: New Member

    Welcome aboard lettsj!
    So glad 'the old timer' forced you to save early on. One Million is a good round number for a goal! Put in the max allowable if you really want to see the balance grow (sooner rather than later, that is).
    So now you are the old timer. Get the new ones to invest in their future. It's still amazing how many people put in less than 5%, so are leaving $$ on the table, or combine that with leaving everything in G. The end result can be very sobering!
    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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  7. #4

    Join Date
    Jul 2016
    Location
    Texas
    Posts
    2,068

    Default Re: New Member

    Welcome lettsj, glad you are here! Sounds like you are on the right path. There is a lot of info in the forums and many different approaches to investing...wishing you many positive returns

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  9. #5

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    10,442

    Default Re: New Member

    lettsj,

    Welcome aboard.

    This is a great place to learn. Don't be afraid to ask questions. Lot's of people willing to help.
    May the force be with us.

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  11. #6

    Default Re: New Member

    Welcome aboard, lettsj! Glad to hear you are actively involved in your TSP investing.

    Did you buy back your military time for your FERS retirement? If you haven't yet and plan to do so be aware that the government charges interest from when you started civil service so the sooner the better.
    Allocations as of COB Dec 28 : 100% S. | Retirement Date:Dec 2022
    Past Returns:
    2019 27.97%, 2018 -3.36%, 2017 13.10%, 2016 -1.79%, 2015 8.71%,5Yr Avg 8.35%

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  13. #7

    Default Re: New Member

    Welcome lettsj!!!: I am learning a lot too, then there are times I feel as though I don't know squat, so I just remember info I have heard and take the plunge at it. So far, not so bad/ I have only been investing in TSP since 2008, and someone told me that it would be a good idea to do so becaue it was a part of my retirement. Tat made sense to me, so I started contributing what I could, and now I contribute the annual maximum. I don't think I will make it to the million dollar mark since I don't plan on working that long, but I sure am trying. LOL! Good luck to you.
    Quote Originally Posted by nnuut View Post
    Welcome to the Forums lettsj!!! You know the penny saved thing, and it's working for you. Best of luck with your TSP!!!!!
    Norman

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  15. #8

    Join Date
    Jul 2004
    Location
    Virginia, USA
    Posts
    993

    Default Re: New Member

    Welcome, and good investing. I have reached my investment goals, and now am preparing to fully retire. Its great you started early. That is the best advice I can give to all investors starting out!

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  17. Default Re: New Member

    Welcome. I'm new to this forum as well. Learning the ropes.


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  19. #10

    Default Re: New Member

    Welcome lettsj!

    and 1daybe!
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  21. Default Re: New Member

    It is amazing how much can change from one generation to the next. After my peers and I saw how beneficial it was to contribute to the TSP we started highly encouraging all new employees to contribute. Four or five of us would approach all new employees and "high pressure" sell them to contribute to the TSP. My favorite line was "Pick a number between 10 and 15". Now writ that one the contribution line. Worked well for most new hires. Maybe they changed their contribution later on but getting them started seemed to the be the biggest hurdle.

    Quote Originally Posted by uscfanhawaii View Post
    Welcome aboard lettsj!
    So now you are the old timer. Get the new ones to invest in their future. It's still amazing how many people put in less than 5%, so are leaving $$ on the table, or combine that with leaving everything in G. The end result can be very sobering!

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  23. Default Re: New Member

    Quote Originally Posted by Cactus View Post
    Did you buy back your military time for your FERS retirement? If you haven't yet and plan to do so be aware that the government charges interest from when you started civil service so the sooner the better.
    I have somewhere around 42 months of service I can buy back, but I have not bought back my time yet. I will admit, I am not all that knowledgeable about this topic. "Someone" once told me that you cannot use years of service towards creditable service for both Military and FERS retirements. Not sure exactly what they meant... so I just put that on pause. Any insight would be greatly appreciated.

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