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Avionicsguy 01-12-2018 01:46 PM

TSP ???
 
not sure where else to put this, but when do i need to sign up for TSP ?
any advice on which type i should do?

sincerely,

a high schooler who has no idea about finances.

Barbazu 01-12-2018 05:50 PM

I would start a TSP right away. I devote 15% of my check to it. Which one you do really depends on how much you’re willing to risk. I divvy mine up amongst all of them. But most of mine goes in the G plan (50%). The rest I have divided up.

scott.henry 01-15-2018 09:18 AM

The sooner the better. Time is money. When I was in, I had 10% of my base pay and 10% of my bonuses going to TSP. As far as risk vs. reward, the G fund is the least risky but has the lowest return, by far. The C or S funds will offer you greater returns but with more risk. You can also choose to invest in a Lifecycle fund that adjusts your portfolio as you age to move your assets into more secure investments. All you need to do is pick the year you plan to retire. That is a pretty standard investment strategy. Go for the bigger returns while you are young and move into more secure investments as you age. You have the advantage of having the TSP available right away. I was already in for 6 years by the time it started so the time I had to contribute was limited. When you get out you can't contribute any more $$ to the TSP, but you can move it to another 401K type plan or you can let it ride in the TSP. There are a bunch of things to consider when making that decision, but I will say that just based on the fees associated with my current 401K, it was best to leave my $$ in the TSP.

User Name 01-15-2018 11:48 AM

I started mine during P days, and have put 10% in since. You really should start as soon as possible. The longer you wait, the less return you will have. That return is money you get for doing nothing but sacrifice a few bucks a month. You won't miss that 10 or 15% at all, trust me. I forget I even have my TSP until something reminds me about it.

You should also put aside as much as you can spare into your savings account. That helps when you need a large sum for unscheduled purchases, like replacing a broken phone, vehicle purchases, plane tickets, that sort of thing. That there, you will feel a lot more than the TSP contributions, but it's worth it when things pop up you didn't expect. Saved my bacon on more than one occasion.

Avionicsguy 01-19-2018 01:51 PM

ok thanks for all the replys. i wasnt sure if i could set it up in P days or what.


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