I increased my contribution rate by upping it every time I got a raise and this includes governments wide raises. After a couple of years I was maxed out and it didn’t feel like a big sacrifice as I always got some of the the raise in my paycheck. Of course if you’re saving to buy your first house, that might be a better investment than putting almost all excess funds in the TSP.
Is there anyway for me to submit an email for inquiries? Just wondering why it’s best to max your ROTH IRA first before adding/maxing your TSP Roth. Thanks.
I have health issues so I have never looked at the HSA and use up all over my FSA money each year. Even with that, I STILL have health expenses I can write off on my taxes. In that case is it still better to max out the Roth IRA over the TSP?
If you have 10 or more years to retirement, I would be 100% in the C Fund. Just keep maxing out contributions and don’t try to time the market. (Timing almost never works out)
I started my TSP at around age 38 (took me 10 years to get full time!) From then to current age 48 I've contributed 10% to the C fund. My salary has always been about the national average. My grand total is 130k. I don't feel like that's grown enough yet I feel like I made the best choices despite maybe that extra 5% to max it out. I'm not on track to that million dollar trophy. Where might I be going wrong? BTW, I've taken to opening up a seperate brokerage account to invest in another sp500 etf fund and have been transferring most of my savings into that. Since at least I can access that money if I had to and move it around if I wanted to. Are these good moves?
After you submit your info on my website, you should've received an email with a link to my Google Drive. It's the spreadsheet labeled "TSP Calculator General." Make sure to download the file and share it because Google will not allow you to share the file. I hope this helps!
@@alrocky I actually have to do the math on that. My work's website only let's me contribute by % but I do 15% and Gross 75k Edit...Yeah that comes out to be 11,250
@@Novaximus For tax diversification purposes you want some traditional money and some Roth money. For various reasons you should contribute to Roth IRA (doubles as Emergency Fund). So as default consider contributing $7,000 to Roth IRA every year and as much money as your income and salary to traditional TSP. $7,000 Roth IRA + $4,250 traditional TSP is satisfactory option for you and enough for 5% TSP match.
I increased my contribution rate by upping it every time I got a raise and this includes governments wide raises. After a couple of years I was maxed out and it didn’t feel like a big sacrifice as I always got some of the the raise in my paycheck. Of course if you’re saving to buy your first house, that might be a better investment than putting almost all excess funds in the TSP.
Hey! Found your channel a couple of weeks ago. Great information.
Welcome aboard!
Is there anyway for me to submit an email for inquiries? Just wondering why it’s best to max your ROTH IRA first before adding/maxing your TSP Roth. Thanks.
I have health issues so I have never looked at the HSA and use up all over my FSA money each year. Even with that, I STILL have health expenses I can write off on my taxes.
In that case is it still better to max out the Roth IRA over the TSP?
Where is the tsp excel document to download?
If you have 10 or more years to retirement, I would be 100% in the C Fund. Just keep maxing out contributions and don’t try to time the market. (Timing almost never works out)
I started my TSP at around age 38 (took me 10 years to get full time!) From then to current age 48 I've contributed 10% to the C fund. My salary has always been about the national average. My grand total is 130k. I don't feel like that's grown enough yet I feel like I made the best choices despite maybe that extra 5% to max it out. I'm not on track to that million dollar trophy. Where might I be going wrong?
BTW, I've taken to opening up a seperate brokerage account to invest in another sp500 etf fund and have been transferring most of my savings into that. Since at least I can access that money if I had to and move it around if I wanted to. Are these good moves?
Generally want to max out Roth IRA at $7,000 before starting a taxable brokerage account. Endeavor to contribute $23k to TSP and at 50 $30.5k.
How do I access the TSP calculator?
Hey Psy, didn’t see that TSP spreadsheet you were showing off in this video on your website.
Let me look into that. Thanks for letting me know
After you submit your info on my website, you should've received an email with a link to my Google Drive. It's the spreadsheet labeled "TSP Calculator General." Make sure to download the file and share it because Google will not allow you to share the file. I hope this helps!
Question: After 10 years of contributing to a Traditional TSP, is it possible or even sensible to switch it over to a ROTH?
Are you contributing $7,000 to Roth IRA every year?
@@alrocky I actually have to do the math on that. My work's website only let's me contribute by % but I do 15% and Gross 75k
Edit...Yeah that comes out to be 11,250
@@Novaximus For tax diversification purposes you want some traditional money and some Roth money. For various reasons you should contribute to Roth IRA (doubles as Emergency Fund). So as default consider contributing $7,000 to Roth IRA every year and as much money as your income and salary to traditional TSP. $7,000 Roth IRA + $4,250 traditional TSP is satisfactory option for you and enough for 5% TSP match.