Share Your TSP Balance and Your Age Thread

[ripper]

Did you manage your TSP or go with a set it and forget it approach?

I've always managed it, although my transfers were very infrequent pre-internet.
I made some terrible choices back then. For a few years, I would move to the best performing fund for the year when I received my annual TSP statement. That fund usually was the poorest performing one the following year.
I was among the first FERS employees in 1984. I believe there were just three fund options then - G, F and C.
My returns increased significantly when I found TSP Talk.

[Globalpack]

250K at 45 you are doing phenomenal!

7 figures by retirement sounds like a reasonable figure. Good for you.

[thenewguy23]

18 months full time and tsp at 6400

[Frixxxx]

18 months full time and tsp at 6400

Been there done that....retirement is a destination based on execution of goals. You are truly on your way!

I was there, now I'm here....

[thenewguy23]

What advice would you give to a young guy just starting off

[tsptalk]

What advice would you give to a young guy just starting off

Getting started early is the main thing, so you're off to a good start. If you're not maxing out your contributions yet, you can get their by adding a percent each time you get any kind of COLA raise. Helps from feeling the pain.

Get aggressive with your allocation whether timing the market or going buy and hold. Although friends don't let friends buy and hold.

Good luck!

[thenewguy23]

Yeah right now I'm at 10 % but next month I will move it up to 15%

[Frixxxx]

What advice would you give to a young guy just starting off

Simplistic - Budget, Plan (set goals), execute

Seeing where you are now (budget)
Seeing your NEEDS then wants (plan)
Meeting your future with minimal unknowns (execute)

If at anytime one of these three changes, you must review the affect on all actions. These could be static or dynamic, but what's in each of those is yours, you own them.

When these three steps are followed, you are adjusting to risk continuously.

Your next question will probably be unique to each of these, i.e do I use software (if so, which one) to budget or just write it down? Or, do I save for a house or just live in an apartment? Or do I retire here or look somewhere else?

Everything builds on where you are and where you want to go!

[thenewguy23]

I just want to live comfortable with not worrying about money and is it bad to buy and hold

[Frixxxx]

I just want to live comfortable with not worrying about money and is it bad to buy and hold

But see, that's the fun part. What is comfortable to you is unique to you.

You're choices are paramount to the map your needs/wants to create and ensure you have enough to support those in the future:

For example: Let's say you never want to own your dwelling. And live in the identical spot 30 years from now.
2014 Rent: $1000/month
2034 Rent: $1485/month (based in 2%/yr inflation) there are a few other factors

So now, you can set your 2034, budget with that number. (planning)

That sets your execution in the direction you need to meet the new budget.

Buy and hold? Only in stocks that pay good dividends.

[thenewguy23]

So my tsp I should be more active and I bought my home in 2012 I am currently try to go from a 30 to a 15 year mortgage because my goal is to pay it off in 10 years

[Frixxxx]

So my tsp I should be more active and I bought my home in 2012 I am currently try to go from a 30 to a 15 year mortgage because my goal is to pay it off in 10 years

Good for you, change your plan, adjust the budget......nice!