Reply to Maxing out TSP

Forum Index » Money and Finances

Reply to "Maxing out TSP"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]We are a two government employee (GS) household with a HHI of 150k. Other then making sure we spend less than we make, we have no real financial plan. Right now we are each putting in 5% of our salaries into our TSP to get the full match, but that probably is not enough in the long run. Given we are earning pension credits, should we also be maxing out our TSP or is that overkill or do we need to save even more?[/quote]

Honestly, if you're planning to work a full 30 year career at the government, then your pensions + SS + 5% (+match) into TSP will be plenty for a normal retirement starting your 60s.  If you are looking to retire early or may leave the government before your full pension or are just looking for a quality of life increase in retirement, then sure start stuffing more money into your TSP.  But, if money is tight and you're just trying to make sure you'll be fine when you hit your mid 60s, then you're doing fine with the 10% total (5+5) in the TSP.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics