How Much Should You Contribute To Your TSP?
Jose Armenta, MsBA, CFP?, ChFC?, CLU?, EA
Helping Federal Employees Make Smart Financial Decisions
When you consider the Thrift Savings Plan’s (TSP) low fees, diversified funds, and generous government match, contributing is a no-brainer for most Federal employees. However, the question of “how much” to contribute is far more complicated. This question is difficult to answer because it depends on many variables such as what age you begin to save for retirement, when you plan on retiring, your retirement goals, and existing and future resources, to name a few of the variables. It is this complexity that usually makes working with a qualified financial planner the preferred path to take. However, if you are not ready to work with a financial planner and would like to start contributing to your TSP, here are a few rules of thumb that apply to most savers. Continue reading...
BarfieldFinancial.com Everything you need to know about FERS.
3 年I agree with this article. I speak with hundreds of feds a year about their finances. Most of them get the TSP thing. In fact, it's been so beaten into us, that there are many of them that contribute to their detriment. Meaning, they have $500,000 in TSP, but don't have $5,000 in a savings account. A healthy amount of cash is just as important.