Thread: Aviator Guy's Account Talk

Originally Posted by Sensei

I hope you had a good day at the zoo. I lived 8 years in Glendale, just a couple miles from Griffith Park. Miss it.

I hear what you're saying about contributing as much as you can. I've only been paying 7% (GS 12), but I know I need to bump that up. I can't imagine maxing out though. Not while trying save for my kids' education at the same time.

My main office is located in Glendale and I’ve been living in the LA area for the last ten years. I really like the Los Angeles area, but the cost of living is a little steep. The Zoo was awesome and the grandkids had a great time.

As far as college funding goes, I use the pay as you go for my daughter who just finished her third year of college. If your kids go to an in state college, its a lot more affordable than most people realize. Also, if you don’t claim your kids on your Taxes, they can take advantage of tuition assistance which brings down the costs too. My oldest son has his BA in Political Science, but he paid for his college using USAF Veterans benefits. My youngest son completed a couple years of college too, but took a good paying job with the FAA as an air traffic controller. Good luck with your TSP investing!!

The freeze applies to all Executive Branch workers -- including civilian employees of the Defense Department, but does not apply to military personnel, government contractors, postal workers, members of Congress, Congressional staffers, or federal court judges and workers.

Well, this makes figuring my high three for retirement a lot easer... LOL... I noticed that Congress will be getting a raise with the money saved to help offset higher fuel and food prices...

http://voices.washingtonpost.com/fed...reeze_for.html

My account went down about 8 percent down in just the last eight trading days!!! Grrrrrrr

Originally Posted by Aviator_Guy

My account went down about 8 percent down in just the last eight trading days!!! Grrrrrrr

Me too... I am sure a lot of us are feeling this pain. Hope a recovery starts next week

The market is about the same as it was last Fri!!! LoL

I'm thinking about diving back in today or Mon…

FYI, the contribution limit for 401(k)s, 403(b)s, and the federal government's Thrift Savings Plan increases to $17,000 in 2012 ($22,500 for those aged 50 or older), up from$16,500 during 2011. For those currently maxing out contributions, this $500 difference can have a huge impact over time. Over the period of ten years, a $500 additional retirement plan contribution ($41.67 per month) would result in $7,243 added retirement savings based on eight percent hypothetical average annual returns.

THAT'S what I was forgetting to do. Thanks for the reminder!

Originally Posted by Aviator_Guy

FYI, the contribution limit for 401(k)s, 403(b)s, and the federal government's Thrift Savings Plan increases to $17,000 in 2012 ($22,500 for those aged 50 or older), up from$16,500 during 2011. For those currently maxing out contributions, this $500 difference can have a huge impact over time. Over the period of ten years, a $500 additional retirement plan contribution ($41.67 per month) would result in $7,243 added retirement savings based on eight percent hypothetical average annual returns.

Originally Posted by Aviator_Guy

FYI, the contribution limit for 401(k)s, 403(b)s, and the federal government's Thrift Savings Plan increases to $17,000 in 2012 ($22,500 for those aged 50 or older), up from$16,500 during 2011.

Good Call! Add that with Catch-up contributions and now we're talking.

https://www.tsp.gov/whatsnew/roth/index.shtml

The TSP is getting ready to roll out a Roth IRA option. I don’t see a whole lot of specific details on their video. Anyone know the specific details on rolling over their current TSP accounts into the Roth?? I think the IRS was allowing Tax Payers to roll over their current non TSP 401K’s into a Roth and allowing them to average out their Tax payments over a two or three year window?? I was just wondering if they will allow TSP participants the same option? If I had to guess, I would assume the TSP Board would say no since it’s not in our best interests. This is the same TSP Board that assured participants they could save a ton of money by limiting our IFT’s and that never proved to save anything. Oh well, if anyone knows specific details on how or if they will allow the old timers in TSP to roll over their balances, please give me a link or buzz.

I understand by doing so, it will cost a big chunk of my retirement savings, but I think Taxes are not only going to go up, but by a huge margin after this election. Hang onto your Hats, it’s going to be a Bumpy Ride!!!

Aviator Guy! I miss the days when you posted regularly. This was one of my favorite threads to follow when I found this site in 2010.

I'm curious to see how the Roth TSP is going to work. Supposedly we'll have the option of putting part of our TSP in Roth and leaving the rest in traditional TSP. I wonder if that's something I'd want to do, still being in my mid(late?) 30s?

Washington Post reporting TSP accounts were hacked??!!

TSP discloses hacking of accounts - The Federal Eye - The Washington Post