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Thread: Millionaires in the TSP

  1. #1

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    Default Millionaires in the TSP

    Great article over on FedSmith.com - For the Informed Fed about TSP Millionaies-


    extract:
    Number of TSP Millionaires

    Here is a tally of the number of TSP millionaires by year. In the earlier years listed, the data
    are not always taken on the same date so these figures are approximate.

    Year Number of TSP Millionaires
    2018 21,432
    2017 23,962
    2016 9,599
    2015 3,272
    2014 4,167
    2013 1,695
    2012 562
    2011 208
    Account Balances in the TSP
    Fedsmith's writer Ralph R. Smith does a great job looking at actual data of TSP accounts.

    link:
    https://www.fedsmith.com/2019/02/04/...-savings-plan/


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  3. #2

    Default Re: Millionaires in the TSP

    that's going to be a ton of Fed taxes paid when those retire and start withdrawing.
    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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  5. #3

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    Default Re: Millionaires in the TSP

    Ima be part of this group someday, better believe that

    Only way it doesn't happen is if my Roth IRA is already worth millions by the time I'm 59 and retire 'early'. If that happens then awesome, would be nice to withdraw it all and sticking a big FU to the tax man

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  7. #4

    Default Re: Millionaires in the TSP

    And the number of TSP Millionaires for 2019 is 49,620.

    https://www.fedsmith.com/2020/01/13/...-millionaires/
    Allocations as of COB Dec 28 : 100% S. | Retirement Date:Dec 2025
    Past Returns:
    2020 31.85%,2019 27.97%,2018 -3.36%,2017 13.10%, 2016 -1.79%, 5Yr Avg 12.61%

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  9. #5

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    Default Re: Millionaires in the TSP

    Quote Originally Posted by Cactus View Post
    And the number of TSP Millionaires for 2019 is 49,620.

    https://www.fedsmith.com/2020/01/13/...-millionaires/
    Boy, I wish.
    May the force be with us.

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  11. #6

    Default Re: Millionaires in the TSP

    You can do it if you want to, but you need to make it a priority. It takes sacrifice. Also, what you have going on in your life matters as well. I did it, and I certainly wasn't on the high end of the pay scale either. BUT....I was single with no real responsibilities like a wife and kids. That matters!!!
    I had house payments for a while, but I maxed out my contributions as soon as I could afford to and never looked back. Some bologna, a jar of mayo and a loaf of bread was my food for the week along with some cheap beer. Total cost was about $10.00. I didn't really care because I knew my money was going into the account and that one day it would pay off. I didn't come from money, so not having much was just "normal" to me.
    I can tell you this. Getting to that level allows you the "Freedom" to just walk away any dam time you want without a care in the world, especially when Management doesn't appreciate you and treats you like garbage. I don't need the money that bad. LOL
    Also something I learned is that I stand at about 1.3 million give or take. If I have it all in G-Fund, I make around $2,500.00 a month depending. So, I can withdraw that $2,500.00 a month and not even touch my Principal Balance. Can't beat that with a stick. Add that to your Gov Retirement Check and Social Security, and that's not too bad at all.
    I just left the Gov about 6 months ago, and I don't plan to touch my TSP for at least 5 or 6 years down the road, if that. I just turned 61 by the way.
    SO...... everyone's situation is different with different circumstances and responsibilities, but do what ever you have to and make it happen!!! I did it, and I'm an idiot......HA !!!

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