Thread: TSP Millionaires

Originally Posted by Frixxxx

And one savvy investor has at least $3 million socked away.

Glad to see you finally fessing up Frixxxx!!!

Originally Posted by Minnow

Glad to see you finally fessing up Frixxxx!!!

I WISH!!!

But I was thinking that if a person out of college (23) got into TSP this year at 16,500/year:
16,500 * (65 -23 = 42) = 693,000
Catchup
5,500 * 15 = 82,500

Contributions alone would be = $795,500

In the G Fund it could easily be 2 Mil!
Anywhere else 3-4 Mil!!

I'd like to know how many of these million dollar men initiated their 401K by investing in TSP. I'd guess that most of these people rolled in some kind of 401K from a prior job/company that was worth some righteous bucks to begin with.

Either way, it took some element of timing in addition to maximum contributions to reach most of those milestones.

All it takes is time and a solid buy and hold discipline - keep the money going even when the funds drop in value - that's how more shares are accumulated.

When I was hired the max was 10% and my salary was ~$15,000. Hard to get to a million at that rate, $1500/yr. They rolled a bunch in, certainly.

Federal judges that came from lucrative private practice law careers before sitting on the bench often bring large retirement packages that in some cases can be rolled into the TSP. I would not at all be surprised if that accounted for most if not all of those high valuations.

I remember back in 2000 the TSP people were about to celebrate the first million dollar TSP account then Bush became President and at least 5 people put over a million in the TSP. Don't know if they moved it out.

For the record, just so there is NO confusion, I am not one of those millionaires

I was until 3 today

J/K

I had 5 years in the private sector between Military an civil service time, I racked up over 100K when it finally moved into TSP.

Being single at the time helped Immensely!

But I know I have a few more years and maintaining a yearly PIP of 42% is difficult!

Depending upon the calculator and market performance, I may just be one by the time I retire. The real question is, should that happen, will I be able to buy a loaf of bread for that $1 million?

Originally Posted by Viva La Migra

Depending upon the calculator and market performance, I may just be one by the time I retire. The real question is, should that happen, will I be able to buy a loaf of bread for that $1 million?

Yes, but it will be a government healthy loaf.....all others will be banned due to healthcare restraints!