TSP and Retirement

[CACBAND]

Long story short, I’ve been working for Uncle Sam for about 2 1/2 years now, however now my appointment type is changing so I’ll also be getting benefits, like the TSP. I’m young, under 25, and don’t want to screw up my retirement by not saving early. Also if it matters much I'm not a federal LE but full well intend to be.

Point is, I’ve been getting retirement planning advise and the advisor is suggesting both saving in the TSP, at least enough to get a full match (which I fully) agree with. However he also suggest putting the rest of my retirement saving in a Roth IRA.

I’m just wondering, he many other feds split their retirement saving among different accounts TSP, IRA, 401K, etc. OR go for all TSP?

[Motorolanut]

If you can afford it, split the two between a TSP and Roth, Put at least 5% in you TSP so the Govie with match it. Perferrable 10% in the TSP if at all possible. The start a Roth or separate account. The TSP is nice but its not smart to have all your eggs in one basket. I think I speak for most members here; We all took a serious hit in our TSP over a year ago when the economy went drastically south. When I looked at my statement and realized I lost half of my TSP investment for the past 8 years :mad: I was shall we say quite upset. But thats the risk you take with investments. But I would start a separate 401K or Roth. Just keep an eagle eye on both accounts...With this economy F@cked up as it is, most likely it will be quite some time before things stabilize. So watch you investments DAILY.
Just my 2 cents..and I'm watching them now...LOL:D

[Creeker]

Ditto that.

My wife is in TSP (USPS) as well as other plans. She has me running it for her.;)

TSP is good in that the Govt will match it, but it is lacking in the ability to easily move anything around quickly and some choices and the ability to see its progress/regress on any home page based stock watch list.

A few months ago she came running in to me worrying about moving some of her funds around, having been told to do that by people she worked with who had... after they lost a lot. I told her they just flushed everything they moved and they'd never get it back.

She's still 8-9 years from needing it, so hopefully... well, you know...

[BP348]

I try to put as much as I can into the TSP. I recently started a Roth IRA so I'm trying to fund that as well.

Young & 25..single or married? If your single I would think you could do at least 10% (15% would be better) TSP & max out a ROTH.

Save now & save as much as you can. Wish I would have been smarter about it when I was younger.

[CACBAND]

I try to put as much as I can into the TSP. I recently started a Roth IRA so I'm trying to fund that as well.

Young & 25..single or married? If your single I would think you could do at least 10% (15% would be better) TSP & max out a ROTH.

Save now & save as much as you can. Wish I would have been smarter about it when I was younger.

I'm under 25, I wasn't going to say my age but it doesn't really matter -- I'm 20 and single. I could do about 20% total split for both.

As far as holding out like Creeker was saying, I can do that. My college savings which was in stocks (stupid accountant my parents had:mad took a nose dive too, but I only take out what I need for classes and let the rest stay hoping it will bounce back.

[chewy]

My wife and I both put the max into TSP. Get used to not having that 10% and just pitch it into either the TSP or Roth... once you do it right away you get used to paying the bills without it. If you don't and try to do a small percentage at a time it gets harder and harder to part with it.

[BP348]

My wife and I both put the max into TSP. Get used to not having that 10% and just pitch it into either the TSP or Roth.

Ummmm Chewy I hate to tell you this but the max you can put into the TSP is 15% ;)

[BP348]

I'm under 25, I wasn't going to say my age but it doesn't really matter -- I'm 20 and single. I could do about 20% total split for both.

Max out on the TSP & the roth. You'll thank us later ;)

[Motorolanut]

I believe the TSP changed a few years back, Contribution percentage is now unlimited...;)

[Switchback]

I believe the TSP changed a few years back, Contribution percentage is now unlimited...;)

...until you reach the monetary limit, that is.

[BP348]

...until you reach the monetary limit, that is.

+1

It's $15K right?

[Switchback]

+1

It's $15K right?

That's my understanding.