Average TSP Balance at Retirement

[Jorgan]

OK, I know going in that individual needs and resources are all over the board, but does anyone know how much the average TSP balance for a FERS employee is at retirement?

I can find the national average for ALL TSPs, but that contains newbies just starting out, retires draining down their acct, and CSRS who have TSPs just as a supplement. (That average is currently around 61k, btw)

I'm looking for a ballpark figure just to see if I'm ahead or behind the curve, and cannot find that particular stat anywhere. Any ideas? Thanks.

Jorgan

 

[Miss_Piggy]

OK, I know going in that individual needs and resources are all over the board, but does anyone know how much the average TSP balance for a FERS employee is at retirement?

I can find the national average for ALL TSPs, but that contains newbies just starting out, retires draining down their acct, and CSRS who have TSPs just as a supplement. (That average is currently around 61k, btw)

I'm looking for a ballpark figure just to see if I'm ahead or behind the curve, and cannot find that particular stat anywhere. Any ideas? Thanks.

Jorgan

FWIW here's much info re: same. I don't think it will answer your question directly though. I posted a report in the past which would be the most helpful. If I find it I'll post it again.

http://www.gao.gov/new.items/d06718.pdf

http://www.gao.gov/new.items/d088.pdf

http://community.federalsoup.com/4/OpenTopic?a=tpc&s=4944011921&f=2514011031&m=7761037361

 

[The HalfBreed]

That's like asking "How long is a piece of String"..........

If the 'Average' is 50K, then HALF have nothing, and the other half has 100K

If you're contributing as much as you can, at least to the point where you get the FULL gov't matching contribution, you're doing well. Everyone is different, so don't compare yourself to the rest of the workers.


Do YOUR best.

 

[tspgo_com]

OK, I know going in that individual needs and resources are all over the board, but does anyone know how much the average TSP balance for a FERS employee is at retirement?

I can find the national average for ALL TSPs, but that contains newbies just starting out, retires draining down their acct, and CSRS who have TSPs just as a supplement. (That average is currently around 61k, btw)

I'm looking for a ballpark figure just to see if I'm ahead or behind the curve, and cannot find that particular stat anywhere. Any ideas? Thanks.

Jorgan

This might give you an idea ..

The average current account balance for FERS employees who invest some of their own money is about $30,000, but the average balance for those who get only the automatic government amount is only about $3,300. (The average CSRS account is about $18,500.) At the last look at individual account sizes nearly a year ago, several investors had accounts near $300,000.

Read the article at http://www.govexec.com/features/0198s1.htm

 

[tspgo_com]

As of September 2005:

"As of Sept. 30, the average account balance of an employee covered by the Federal Employees Retirement System was $56,494. The average account balance was $47,319 for a CSRS-covered employee and $5,856 for members of the uniformed services, including the military. The average account balance is lower for members of the uniformed services because they were not allowed to begin making TSP contributions until January 2002."

http://www.washingtonpost.com/wp-dyn/content/article/2005/10/17/AR2005101701527.html?referrer=email

 

[luv2read]

Note...this is a Gregory Long scenario quoted in Washington Post.

Federal Soup is a good site with good info. I use it often.

http://community.federalsoup.com/4/OpenTopic?a=tpc&s=4944011921&f=2514011031&m=7761037361

posted April 06, 2008 02:09 PM April 06, 2008 02:09 PM

Haven't seen any specific numbers for those at retirement but saw this in a Washington Post article."TSP data shows that FERS participants in the 40-44 age category and with 20 years of federal service have an average account balance of $138,616.In Long's scenario, these employees earn $70,000 and contribute 8 percent of their salary to their TSP account. They are 42 years old and will make contributions until they are 62. If their contributions and investments grow by 7 percent over that 20 years, Long projects these employees would end up with $955,488 in their accounts.The average account balance in the TSP, however, suggests that many employees need to keep saving for a comfortable retirement. The averages reflect savings by long-time government employees, who have had time to build up a nest egg; newly hired employees, who have just started making contributions; and the military, which became eligible to participate in the Thrift Security Plan in 2002.The average Federal Employees Retirement System account balance was $73,329 at the end of November, the latest data available.The average balance for employees in the Civil Service Retirement System, which is being phased out, was $65,282. For the military and other uniformed services, it was $9,441."

 

[Zebra]

FERS for 20 years, Current grade is GS13 Step 10; however started at GS11 grade.

Closing in on 400 grand.......I think it could had been much more if I was more savy with the market. But I started late in government service....at 41. I will only be around a couple more years and if the good Lord is willing continue to stuff max (15,500.) plus 5000 catch annually.

I would had throught the average would had been much more........but then again I have never looked into it..........thanks@

 

[ATCJeff]

Saw a article last year...it stated that only about 20 people were above the million mark. I know of two controllers that are above a million. One had a million dollar party! BTW, they both had OPM mess up their retirements. They were put into the wrong retirement system and were awarded 1.2 million for the TSP accounts.

I started service in 87 and contributed the max of 10%. When they removed the limit, I contributed the IRS max each year.

Being ATC I was GS14 most years, then converted over to AT12. Unfortunately we can't work live traffic past the age of 56, so most of our lifetime earnings our compressed, hence the higher pay.

2000-2002 hurt my account balance, but I'm sitting a little over 700K right now.

 

[Birchtree]

ATCJeff,

I'm confident that once I regain my $16.88 C fund share price and convert my I fund position back to the C fund I'll snug right up along side you. At 40K a point it won't take long to hit the target that is waiting in the distance. That's the 1M target and will be achievable during the next cycle even though I'll be retired - still looking forward to play for years to come.

 

[ATCJeff]

ATCJeff,

I'm confident that once I regain my $16.88 C fund share price and convert my I fund position back to the C fund I'll snug right up along side you. At 40K a point it won't take long to hit the target that is waiting in the distance. That's the 1M target and will be achievable during the next cycle even though I'll be retired - still looking forward to play for years to come.

Me too!

 

[alevin]

http://www.tsptalk.com/mb/showpost.php?p=162591&postcount=6
Quote:
http://community.federalsoup.com/4/OpenTopic?a=tpc&s=4944011921&f=2514011031&m=776103 7361

posted April 06, 2008 02:09 PM April 06, 2008 02:09 PM

"TSP data shows that FERS participants in the 40-44 age category and with 20 years of federal service have an average account balance of $138,616.If their contributions and investments grow by 7 percent over that 20 years, Long projects these employees would end up with $955,488 in their accounts. "

Isn't that amusing? Funny thing is I had close to that amount back in around 98 when I was close to 40 and had about 13 years in, -before I rode down and down and down and through that last multiyear recession and lost 25% of what I'd accumulated up to that point, via buy and hold. Now I barely have 2x what I had then at the high point. He's smokin somethin funny, assuming people have enough time to make up that much loss from the learning curve mistakes they make in the first 20 years, with that kind of growth assumption.

I don't think I'll be retiring at 62, the 4.5 year gap in SS substitute $ til I hit 66.5 would hurt too much. I need to do better than 7% on an annual basis for the next 13-15 years to feel ok about retiring, and heck, I'm thinking I'll need to work part time til I'm 70 even at that. CP is critical when you're mid-career. B&H through last major downturn hurt me bad, but thanks to this site, I'm doing a whole lot better this time round, even in autotracker. And my real account is 5% ahead of where I am in autotracker (autotracker is my chart theory playground)

 

[Birchtree]

alevin,

I also rode that last cycle but kept my contributions going in all the way down - throwing good money down the deep well but also buying more shares at a cheaper price - and the return trip was delectable - still buying all the way up. The secret is to continue your contributions on auto-pilot no matter what. I'm doing a repeat during our current cyclical correction getting more shares with the funds I have available - as a matter of fact this buying is so sweet I hate to turn off the faucet by taking retirement. I'm going to force myself to work a little longer because I'm just so greedy for those golden prices. I've never met a bear I couldn't take advantage of - buy when everyone else is afraid. That's where one makes the outsized gains. I rode the C fund down and then switched to the S fund and rode it up until Feb.'04 and then IFT'd back to the C fund - just keep on buying is the redeemer of all mistakes.

 

[Show-me]

alevin,

I also rode that last cycle but kept my contributions going in all the way down - throwing good money down the deep well but also buying more shares at a cheaper price - and the return trip was delectable - still buying all the way up. The secret is to continue your contributions on auto-pilot no matter what. I'm doing a repeat during our current cyclical correction getting more shares with the funds I have available - as a matter of fact this buying is so sweet I hate to turn off the faucet by taking retirement. I'm going to force myself to work a little longer because I'm just so greedy for those golden prices. I've never met a bear I couldn't take advantage of - buy when everyone else is afraid. That's where one makes the outsized gains. I rode the C fund down and then switched to the S fund and rode it up until Feb.'04 and then IFT'd back to the C fund - just keep on buying is the redeemer of all mistakes.

Or you have take'n such a horrible spanking riding it down from the 2007 high that it has you're chasing to make up the difference. Enjoy the steak.

View attachment 4529

 

[alevin]

Yah, I'll keep buying G for the time being. I'll buy into other funds when the trend indicators get better, or as I learn how to read them better faster. I'll have most of the CP I started with before the downturn beginning of the year when I'm ready plus new funds contributed in the meantime. I goofed up between August and December last year when I was just starting to learn about trend indicators but I still beat all funds but the F last year even so thanks to this site and starting to learn about charting. The USGS retirement calculator site (best calculator I've found for TSP) tells me I need to be putting in 10% every year between now and retirement, and earning 10% annually if I'm ever going to get over 600K in my stash, much less more than that, which would be best for maintaining something close to current living standard. I do appreciate the encouragement that it can be done in the timeframe I'm looking at. I just don't have the B&H cushion you have.

 

[McDuck]

I don't think I'll be retiring at 62, the 4.5 year gap in SS substitute $ til I hit 66.5 would hurt too much. I need to do better than 7% on an annual basis for the next 13-15 years to feel ok about retiring, and heck, I'm thinking I'll need to work part time til I'm 70 even at that. CP is critical when you're mid-career. B&H through last major downturn hurt me bad, but thanks to this site, I'm doing a whole lot better this time round, even in autotracker. And my real account is 5% ahead of where I am in autotracker (autotracker is my chart theory playground)

What is CP ?

 

[alevin]

What is CP ?

Sorry Greg, my fingers get their wires crossed with what's in my head at times. CP stands for capital preservation. What I should have said was PC (preserved capital!!!!)
The indicators I'm working with just aren't fast enough for this market right now, every time I get a bead on it, it switcheroos on me (which makes me glad I'm in PC mode for real).

but I read something tonight that should help me find the right rhythm finally, if the market keeps behaving like it has been. I'm just looking for the right moment next month probably-with the play account. If I can get it to work there, I'll try it with some real skin. check this out....

http://http://quantifiableedges.blogspot.com/2008/08/how-to-trade-choppiest-environment-in.html

 

[DCguy]

tell me if I'm wrong, but about 10 years ago the Dow was a tad below 10000. 10 years later, in 2008, it's currently at 11500 and dropping. 10 years ago, in 1998, CD interest rate was at about 5.5%. and now it's at about 3-4%.. so, the CD paid more over the last 10 years than a tsp.

 

[XL-entLady]

The indicators I'm working with just aren't fast enough for this market right now, every time I get a bead on it, it switcheroos on me (which makes me glad I'm in PC mode for real). ...
but I read something tonight that should help me find the right rhythm finally, if the market keeps behaving like it has been. I'm just looking for the right moment next month probably-with the play account. If I can get it to work there, I'll try it with some real skin. check this out....

http://http://quantifiableedges.blogspot.com/2008/08/how-to-trade-choppiest-environment-in.html

Alevin, that was a very interesting article but it felt like it should have been titled, "How NOT to Trade the Choppiest Environment in 50 Years". I can tell from reading the article that my current strategy of "buy strength and sell weakness" is not the plan but I didn't get a strong enough endorsement of ANY plan to feel better about something else.

It sounds like you may be on the verge of figuring out a strategy, so what was YOUR take-away from the article?

TIA for any insights!

Lady

 

[Silverbird]

http://www.tsptalk.com/mb/showpost.php?p=162591&postcount=6
Quote:
http://community.federalsoup.com/4/OpenTopic?a=tpc&s=4944011921&f=2514011031&m=776103 7361

posted April 06, 2008 02:09 PM April 06, 2008 02:09 PM

"TSP data shows that FERS participants in the 40-44 age category and with 20 years of federal service have an average account balance of $138,616.If their contributions and investments grow by 7 percent over that 20 years, Long projects these employees would end up with $955,488 in their accounts.".....

:laugh: "If" their contributions grow by 7%, Mr Long? That's not helpful. I can do that calculation too. By coincidence I've made an average 7% per year in 18 years of service. But I bailed out into G during 2001-2002.

If I hadn't watched my investments and parked in C, or G for that matter, I would NOT have 7%. These gains don't just fall out of trees! [meow! CRUNCH! falling bird tastes good with milk!]

 

[CountryBoy]

:laugh: "If" their contributions grow by 7%, Mr Long? That's not helpful. I can do that calculation too. By coincidence I've made an average 7% per year in 18 years of service. But I bailed out into G during 2001-2002.

If I hadn't watched my investments and parked in C, or G for that matter, I would NOT have 7%. These gains don't just fall out of trees! [meow! CRUNCH! falling bird tastes good with milk!]

Same here, Long talks a big game, but I doubt if he has ever made a honest living, because he sure has lied like a rug to us. Screw him and his..... Just the mention of his name makes me realize how he has cheated and lied to us and cost us thousands of dollars.

CB