Page 18 of 18 FirstFirst ... 8161718
Results 205 to 210 of 210

Thread: Share Your TSP Balance and Your Age Thread

  1. #205

    Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by Cactus View Post
    Don't be too hard on yourself, nnuut. If you remember, we weren't allowed to do that when we were younger. The max we were allowed to contribute was 10% back then. That's always irked me because I could have contributed a lot more early on before getting married. By the time they changed that to the IRS limit I was married and had too many obligations in place. I had to wait for step increases and COLA increases to bump mine up to the limit. It's a lot harder to do it that way.
    You also had a wait period before you could start investing in TSP. I was hired in Oct 1991 but couldnít begin investing until July 1992, 9 months later. Thatís almost an entire year of not being able to invest ☹️.

  2.  
  3. #206

    Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by alexreb View Post
    You also had a wait period before you could start investing in TSP. I was hired in Oct 1991 but couldnít begin investing until July 1992, 9 months later. Thatís almost an entire year of not being able to invest ☹️.
    That is a real problem with most 401K plans. If there is any kind of required waiting period most people get used to the extra money and it hurts to start contributing. The government did the right thing when they changed it so new employees are automatically started off in the TSP unless they elect not to. A lot of new employees don't even know they have money going in there, so it doesn't hurt. Never had it, so they don't miss it.
    Allocations as of COB Sep 28 : 100% I. | Retirement Date:Dec 2022
    Past Returns:
    2017 13.10%, 2016 -1.79%, 2015 8.71%, 2014 -7.39%, 2013 17.29%,5Yr Avg 5.58%

  4.  
  5. #207

    Default Re: Share Your TSP Balance and Your Age Thread

    If you haven't already, your age now is the best time to max out your contributions to $18500 (or just set the bi-weekly contribution to $711). If you still don't have any hard 'home' requirements like a mortgage or child yet, I would go as far as recommending a lifestyle change to do whatever it is you need to do to save that $18500 per year, regardless of whether its affordable. Make the lifestyle affordable.

    I'm 38 and retirement wise, I can say that it doesn't really matter whether I work my way up in Government-work any further. Doesn't matter. In my case I'm at a point where I need to decide whether it makes sense to continue donating $18500 or just the minimum of 5% into the TSP since I can't touch it for other investments for another 20ish years. Its a pretty strange mindset to be in.

    Save as much as possible, and also conserve a significant portion of brain power for investing or for something else you love on the side that can generate income!
    Last edited by mbrogz3000; 09-14-2018 at 11:11 AM.


  6.  
  7. #208

    Join Date
    Nov 2015
    Location
    Virginia Beach, VA
    Posts
    2

    Default Re: Share Your TSP Balance and Your Age Thread

    You figured it out, mbrogz3000. Youíve reached the point that managing your TSP is more beneficial than working to increase your high 3 (maybe soon to be high 5).


    I just retired this year at age 56 and my EBIS estimates have been telling me that it has been costing me money to go to work every year since age 51. Itís been hard to stay motivated the last 5 years knowing that. Several co-workers I left behind that have not reached their MRA have come to the same conclusion and have the same motivational struggles I had. Now I just try to remember what day of the week it is.

    I reduced my TSP to 5% the last 7 years I worked. Doing more didnít really affect the TSP total when I retired. Instead, I bought a new car for the wife and a truck for me. I have been driving beaters to work for 34 years so I could contribute more into TSP when I was younger. Itís nice having a new vehicle. The money I put in back in 1987 is doing a lot more for me now than what I contributed in my last pay check. I have found TSPTalk helpful in managing my TSP account. I have been a member of one of the Premium services for a few years and have benefited from the additional insight it provides.


    It is not a strange mindset to be in. It eventually becomes reality.

  8.  
  9. Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by James48843 View Post
    Hey super Dave- please be sure to let me know when you decide to bail out of stocks. I got trashed in the crash of 87; the pullback of 91, the dot.com bubble of 2000, and got shellacked in the crash of 2008-2009.

    So if you got any idea of a good time to move to safety, Iím all ears!!!


    Sent from my iPhone using TSP Talk Forums
    I don't claim to be an expert, but sure. I used to have a much better feel than I do now. What has driven the market for ages is not moving it like it used to. I feel like we are getting dangerously close to a correction, but this is the time of year that stocks generally ramp up. I'm really going to look closely in March 2019 or so.

  10.  
  11. Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by Anthony.l View Post
    I am 32 and have been contributing to TSP for almost 5 years now. My balance is about 90k, and always looking for information to help for fund selections and timing.
    I don't know what percentage you are contributing, so this may not be helpful. There is a lot of talk here of maxing out at the $18k allowed. Everybody can't do that. You really need to at least be doing the 5% that is matched, or you are leaving money on the table. If you start with that, and as you get pay increases, increase contribution 1% or so a year until you get to 10%, you'll never miss the money. I'm 54 now and I have pretty much always done the 5%. I'd be so much better off if I had increased it in my early years gradually up to 10%. It really wouldn't be a lot of help to do now for me. The bulk of your TSP balance at retirement will be the result of what you contribute the first half of your career and the compounded earnings from that.

    I've been in 29 years and contributing 5% and my balance is $704k. If I had been doing 10%, that would have been right at a million.

  12.  
Page 18 of 18 FirstFirst ... 8161718

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
SPY (C Fund) (delayed)
Share Your TSP Balance and Your Age Thread
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
Share Your TSP Balance and Your Age Thread
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
Share Your TSP Balance and Your Age Thread
(Stockcharts.com Real-time)
AGG (F Fund) (delayed)
Share Your TSP Balance and Your Age Thread
(Stockcharts.com Real-time)