Share Your TSP Balance and Your Age Thread

[yesterdaysnews]

TSP at 108,000 age 46 in mid December. Would have been more but needed to borrow against it to pay off credit cards.

[chaingunmike]

Today was a big day for me, my TSP crossed the $1 million mark with today’s market gains. I’m at $1,003,000 now and it feels really weird. I’m curious, do any other TSP millionaires remember the date that their TSP first crossed into 7 figures? I’m 61, 30 years service, and retiring December 2021.

[ALRetiree]

Congratulations Mike. Retiring with a $1m TSP is great and has been my goal since day one in TSP. I need a good year to get there (my retirement date is next September) I’m at about 880k now. Not that you can’t have a good retirement with less but I think it’s a psychological milestone that would make me feel better walking out and leaving that regular paycheck.

[weatherweenie]

I'm about $100,000 and 2 years behind you. Ideally, I will be able to not touch TSP monies for awhile. Even if I do, I still hope for the balance to grow in retirement.

Congratulations Mike. Retiring with a $1m TSP is great and has been my goal since day one in TSP. I need a good year to get there (my retirement date is next September) I’m at about 880k now. Not that you can’t have a good retirement with less but I think it’s a psychological milestone that would make me feel better walking out and leaving that regular paycheck.

[gibsonman]

Mine 620K, wife 250K....pension will be 62K

[chaingunmike]

I'm about $100,000 and 2 years behind you. Ideally, I will be able to not touch TSP monies for awhile. Even if I do, I still hope for the balance to grow in retirement.

I was at 880,000 as recently as July and then 900,000 in August. I think the markets were climbing throughout the summer and then went even higher in October/November. It took only about 2 months for me to go from 900 to $1m. Incredible. It seems that once you hit around 800/900k things happen FAST. I wonder where I’ll be when I retire next December. I’m hoping for 1.2m, that would be amazing. You aren’t very far behind me and I think you’ll be at $1m a lot sooner than you think. In retirement I plan on withdrawing 3-4 percent annually to keep my balance high and let compound interest keep working its magic. I want my TSP to become a perpetual money making machine that goes on forever.

[chaingunmike]

Congratulations Mike. Retiring with a $1m TSP is great and has been my goal since day one in TSP. I need a good year to get there (my retirement date is next September) I’m at about 880k now. Not that you can’t have a good retirement with less but I think it’s a psychological milestone that would make me feel better walking out and leaving that regular paycheck.

Thanks. I didn’t expect to reach $1m until next year so I’m pleasantly surprised. If you’re at 880k now then you’ll probably reach $1m by September. It seems my account went from 880k to $1m in only 6 months. I agree that $1m is a good goal to achieve before retirement. Good luck to you.

[nasa1974]

Congratulations.

[Valkyrie]

retired 61. 300k tsp, 300k private accounts both rising.

when they started the TSP they told me nothing about. there were not any agency training courses like they started over 10yrs ago. so I didn't even contribute for over five yrs and was just in G fund. I knew nothing about the stock market. even when I started contributing I was only in the G fund for a few more yrs, until I found this site and started to pay more attention to the markets.

[Bullitt]

retired 61. 300k tsp, 300k private accounts both rising.

As long as you have enough to provide for your needs.

Other people's numbers should not be a benchmark of where you need to be, especially given the lack of details. Everyone's needs are different.

[Valkyrie]

As long as you have enough to provide for your needs.

Other people's numbers should not be a benchmark of where you need to be, especially given the lack of details. Everyone's needs are different.

I just live off the pension for the last four yrs. next yr that will go up slightly if I apply for SS. otherwise there has been zero need to touch savings. Thank God.

[nasa1974]

retired 61. 300k tsp, 300k private accounts both rising.

when they started the TSP they told me nothing about. there were not any agency training courses like they started over 10yrs ago. so I didn't even contribute for over five yrs and was just in G fund. I knew nothing about the stock market. even when I started contributing I was only in the G fund for a few more yrs, until I found this site and started to pay more attention to the markets.

Valkyrie,
Same thing here. Started in the "G" fund and never maxed out my contributions. I was CSRS so I didn't get any matching funds. Just figured since I got a pension the TSP was just going to be a little extra in the account, vacation money. But you're right there was very little information in the beginning on how or what to do. If only I knew then what I know know.