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Thread: Share Your TSP Balance and Your Age Thread

  1. #253

    Join Date
    Nov 2005
    Location
    Ohio, USA
    Posts
    219

    Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by Christopher View Post
    My wife (JD) began her Fed career in 1985 and is a GS-14; I (Chris) began my Fed career in 1989 and am a GS-12. She turned 49 and i turned 47 during December of 2015. Here's our short story:

    At the end of 2003, we were invested 100% in G with balances of $7,464.40 and $5,120.29, respectively - only Uncle Sam was contributing to our TSP accounts. All of that changed in early 2004: just prior, my best friend (who worked in commercial banking) kicked me in the derriere when, during a discussion about investing, I told him my wife and I hadn't contributed anything to our Fed "401K accounts". SO ... LOL ... I kick started our contributing to both our TSP accounts and began managing them both, though ignorantly moving $ between funds at first because I lacked any real knowledge. I stumbled across TSPTalk not long after, but didn't become a member for a while - I just stood in the shadows and read a LOT of posts, researched cause and effect between market forces, scrutinized member methodologies, and tried to make some sense of all the chatter and banter - but began actively investing ("trading") the funds in our TSP accounts with my new insights.

    Over the years, we've contributed between 5% and 10% to our accounts - I recall reducing the 10% to 5% to aggressively pay off the mortgage Christmas of 2005 and then again as markets began crashing during the Great Recession (where we lost a little better than 5% - mild compared to others we knew who were buy and hold types. We're still contributing 5% now). I'm honored to be among those notorious day traders who received the TSP board's "ultimatum" letter back in the day, and I don't regret a day of aggressively managing our funds during that time - it helped me to help US catch up some to where our TSP accounts would have been if we had contributed prior to 2004. Our combined balance hit $300K last quarter, and we're OK with that considering our "late bloomer" statuses.

    My TSP slacker status regrets in 2015: 1) not consistently watching the markets, and 2) not consistently applying my own investing rules when I DO. I hope to be more intentional in 2016 and onward.
    Checking in, it’s been a while! I will reach 52 at the end of 2020 and the wife will be 54 a few days prior. Our daughters both married and flew the coop over the 18 month period that ended with the weekend in March that COVID hit hard and full time telework began the norm. We slammed the pedal to the metal on contributions, our combined balance has hit $650K since my last post. Share Your TSP Balance and Your Age Thread


    Sent from my iPhone using TSP Talk Forums
    If I fail, I'll fail TRYING... TSPCA: G=0% F=100% C=0% S=0% I=0% L Income=0% L2020=0% L2030=0% L2040=0% L2050=0%

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  3. #254

    Default Re: Share Your TSP Balance and Your Age Thread

    Yo, Christopher - check your PM's will ya!

    You were in the top 5 this month!
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  4.  
  5. Default Re: Share Your TSP Balance and Your Age Thread

    Hello Everyone,

    I figure its time i start to focus far more on my TSP. I am just turned 32, have worked for the government for 9 yrs, and just made GS 14 with $110,000 in tsp.

    Thanks

  6.  
  7. #256

    Join Date
    Sep 2006
    Location
    Rocky Mountain High
    Posts
    6,793

    Default Re: Share Your TSP Balance and Your Age Thread

    Max out your contributions, if you haven't already. As a GS-14, shouldn't be a problem.

    Quote Originally Posted by bbunch View Post
    Hello Everyone,

    I figure its time i start to focus far more on my TSP. I am just turned 32, have worked for the government for 9 yrs, and just made GS 14 with $110,000 in tsp.

    Thanks
    Weatherweenie's Account Talk
    Expected retirement date: November 2023

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

    Yes luckily I maxed out my contributions once I got the 14. All of my contributions have been Roth thus far. I am debating on if that is the best option.

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  11. #258

    Join Date
    May 2011
    Location
    Florida
    Posts
    1,580
    Blog Entries
    6

    Default Re: Share Your TSP Balance and Your Age Thread

    Quote Originally Posted by bbunch View Post
    Yes luckily I maxed out my contributions once I got the 14. All of my contributions have been Roth thus far. I am debating on if that is the best option.
    It almost always is. Hard to know if you will be in a higher or lower tax bracket when you are taking the money out, but you do know that the gains on your contributions are tax free, whereas they get taxed if you go with the traditional option.

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