s/o - if you're a fed, how much do you have in TSP & how old are you?
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Anonymous
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48, 18 years of service, $430,000. Down about $20,000 from a few months ago, but it will go back up. I've got everything in the L2040 fund.
Hate to say it, but I've never maxed out - I'm always hit 5% to get the match, but have never been able to afford (or, to put it another way, to make the financial sacrifices) necessary to max out. Still, between my TSP balance and my pension when I retire, I think I will be in pretty good shape. |
Anuska299
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Member Offline
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Not fed, 62 $575 in 401k (no matching) plus another $340 in other accounts. Paid at a high GS-12 level. Spent my last 20 years putting in the maximum and saving/investing on the side. Keeping a good blend between bonds 30%, small 20%, mid 20%, large 30% and savings saved me from anything over 20-25% short term loses in 2000 and 2008-2009.
I would recommend always investing outside your "retirement" program at work. Wish I had done more in early 2009 when stocks were just rebounding, tripled my investment in 6 months. Brought utilities and premium stocks with good dividends. Dividends are a great income supplement once you retire, you get quarterly money even if the market is flat. If the interest rate ever increases I'll consider municipal and state bonds. Right now indexes seem to be as volatile as the market so I haven't invested there. |
Anonymous
| Worked 25 years, retired in 2009. Now have 750 K. Will need to start taking it out soon |
Anonymous
| Are the respondents CSRS or FERS? |
Anonymous
| FERS, 52, 750k... |
Anonymous
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FERS
42 YO-16 years service 315K in TSP L40 funds and roth Also have 40K in personal savings |
Anonymous
at age 42, why L40 fund? can't you be a bit more aggressive? |
Anonymous
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580K in TSP and supplemental 401(k) - federal financial regulator benefit
17 years of service (45 years of age) all in the L40 fund probably 50K in other investments 140K in cash |
Anonymous
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39yo with $225 in TSP and $20 in a roth ira. I've mostly done 5% but have been bumping it up over the last couple of years. I've never maxed.
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Anonymous
And this is exactly how it is done. I would add that putting most money in an s&p500 index type fund should shield from most long term losses. Keep it simple and steady. |
Anonymous
Yes. Somewhat. Makes less sense if you expect your taxes to be Lower later. I am diversifying. |
Anonymous
The TSP is the 401(k) of the govt. 401(k) refers to the code section. Public sector and nonprofit workers have plans described elsewhere, but the plans are pretty similar even though the name is different. The TSP is a pretty good plan unless you want to be an aggressive manager of your assets. It runs cheap because govt workers save at high rates and because we accept a fairly plain vanilla plan (check out a fidelity website and you will see). I think the people who run it do a great job. I'm not yet one of those millionaires but am on track to be one. I put the max in every year. I drive a crappy car and have a small house. |
Anonymous
| FERS, 20 years, $714K. |
Anonymous
and I'm 45 |
Anonymous
| 50, 25 years in, 480K. I didn't put enough in when I was in my 20s, but still feel OK. DH has 100K more and is 5 years younger than me, but he's private sector and makes more. |