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Hello all, just signed up for this so not sure how this all works.
I just had a question about transferring funds between funds.
I had about 14 sitting in the S fund and wanted to know if I should take some of that and spread it into the C and I?
I just recently switched and put 20% in the C and the I leaving 60% in the S. I didn't move any of the money I have in the S from the last 4 years.
I currently am only putting 5% of my salary.
any advice would be great thanks
The contributions you make every payday can be broken out and applied to any fund as you wish, that will then happen automatically every month, until and unless you change it. That's your contribution allocation. An Interfund Transfer (IFT) is how you adjust how much you have in each fund, transfer between funds as you put it. 2 IFTs can be made to move between and among funds each month. You can always move funds to the G fund, no limitations on that. 5% is good for starters, should be maxing out any matching funds you can get.
Inkedmp31 welcome to the Forum!! Everyone is trying to figure out the best way to invest their TSP. Some use our Pay for service plans and some try and figure out what to do by technical analysis, it's your choice. The Markets are crazy now due to Political scrambled eggs effecting returns.
Best of luck with your investments:D
Norman
Inked, welcome to the forum! Take every opportunity to increase your contributions. 5% is a good start but the more you contribute early in your career the more impact you will have on your retirement. If and when you get cost of living raises or promotions that is usually a good time to increase your contributions without impacting your take home pay too much! JMHO Good Luck with your TSP account!
Inkedmp31,
Welcome aboard.
You do have 2 IFT's available every month and you can move as many times as you like into the "G" fund. However, moving to the "G" fund could go against your 2 IFT's if that move to the "G" fund is the first or second transfer of the month.
Keep asking questions. There are lots of people here that can help.
Thanks everyone I have increased from 3% too 5% as of Friday. I have left the 14k I have in the S in the S and going to see what happens with the 20% i put into the I and C funds for the next few months. Hoping to see some nice returns, but if not I might just go back to the S fund with 100%.
Words of wisdom from Scout333. Follow his advice and you will prosper.