Hello from FL Where should I start?

[tsptalk]

Welcome Lucktoday! There are a lot of strategies to consider, and you will find that one will fit your personality more than other. Would you rather be inactive? Do you like to move your money around to try to maximize gains? Would you prefer following a system or another investor? Do you follow the economic fundamentals or perhaps you are more of a technician and analyze charts.

Just stopping by here regularly will point you in the direction that is most comfortable for you. Apathy is the real probllem. Most people here really enjoy this stuff.

 

[Frixxxx]

Welcome Lucktoday,

Boghie's right, but you got to set goals and plan......


Welcome!

 

[Boghie]

I've been in the TSP for 19 years and it's not where I had hoped. Looking for stratigies to boost it over the next 11years. Any suggestions on where to start would be appreciated.

Thanks

LuckToday,

I have to guess that you are in your early 50s. Based on that you should have some assets in the G/F Funds. You can have less assets in those funds than most because you will get a small Federal pension - most private employers offer no pension (but, then again, they tend to offer a higher match and better benefits in certain fields). Your pension can permit you to place more of your TSP assets at risk in the equities funds. However, when you are 5 years out you should run to safety.

I would read Ric Edelman's 'The Lies About Money' and 'The Truth About Money'. I am actually listening to his weekly radio show as I type. There is a little questionaire in 'The Lies About Money' that can lead to a good allocation for the risk you are willing to take. There are other resources available that folks on this site can point you to as well.

After reading up on financial planning (and maybe hiring a viable financial planner) I would take a peek at how some of the folks here invest. Everybody (OK, most) have their ups and downs - but find some folks you can watch. Then make your choices. You need, however, some form of baseline to know what level of risk they are taking. Following a 23 year old trust funder millionaire as he/she swings for the fences is probably not a good option for a 53 year old Federal employee without a massive asset base. Just thinking

Your TSP is under your control.

 

[nnuut]

This site is a great place to start, lots of resources and plenty of help, just ask questions and read, read, read. Check out the Auto Tracker!
Best of luck
Norman

 

[Lucktoday]

I've been in the TSP for 19 years and it's not where I had hoped. Looking for stratigies to boost it over the next 11years. Any suggestions on where to start would be appreciated.

Thanks