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Originally Posted by
mufasa
Hi All,
I am 50 and been in the service for little over 13 years. I did not know about this forum. So glad to find it. Please bare with me in case I do not follow a decorum or have the question posted in the wrong thread. I have a ways to go before I retire. I have a paltry $205K in the TSP. I also have a $25K loan that I have to pay off at 2.835% I took to purchase a home. I pay about $310/month for the loan. At this rate I will pay the loan off in about seven years. I am thinking of keep paying my loan at the current rate and increase my TSP contributions to the max and also do the extra catch up as I turned 50 last month. Should I pay off my loan down faster instead of increasing my retirement contribution and lose out on potential gains that I could get more than 2.835%? I'd appreciate your thoughts. Many thanks in advance! Respects and a lot of smiles. Mufasa
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