imported post
Hello to all. This site was a great find for me!
:?Now, I'd like to describe my situation and hope someone can tell me where I may be going wrong or if I'm possibly on the right track.
My balance is just under 200,000 now and I'm contributing 15% of my $45000/yr salary. I'm 45 yrs old. I want to retire as soon as I become eligible so my horizon is about 10 years. I know I won't be able to become "rich" in this scenario, but I want to be sure that my funds are sufficient to carry me modestly/comfortably to about age 100
I'm not market savvy and I've never tried to predict the market; I've always just decided upon a moderate/aggressive allocation of some sort and stuck it out, changing very seldom. That has panned out okay, but now I'm thinking of following your daily/weekly recommendations and trying my hand at interfund shifts from time to time to see if maybe I can do a little better for a change....either that,or I'll just give some thought to your long-term fixed allocations....the aggressive one is very similar to mine already. Recently, I'verevised my strategy somewhat in that I've decided to limit my TSP automatic paycheck contributions to 6%(being sure to grab all the agency-matching "free" money) and I've established a ROTH which I'm going to fund with the remaining 9-10% of my monthly savings...so I'll still be saving around 15-16%. (I'm not financially able to max out BOTH my TSP and the ROTH simultaneously so that is why I'm splitting it up this way) My logic is this....I'm thinking that when I retire at age 55, I'll have enough accumulated in the TSP to draw on monthly for quite a few years, and then the ROTH will also be there, hopefully still growing somewhat and available for me to draw on tax-free a bit later in life. Is this a ridiculous strategy or am I on the right track? Also, if this is viable, should I take the plunge and still try my hand at a few interfund transfers while executing this strategy?
:zzSorry this is so long. Hopefully you're not sleeping. Thanks.
Lacy
Hello to all. This site was a great find for me!
:?Now, I'd like to describe my situation and hope someone can tell me where I may be going wrong or if I'm possibly on the right track.
My balance is just under 200,000 now and I'm contributing 15% of my $45000/yr salary. I'm 45 yrs old. I want to retire as soon as I become eligible so my horizon is about 10 years. I know I won't be able to become "rich" in this scenario, but I want to be sure that my funds are sufficient to carry me modestly/comfortably to about age 100
I'm not market savvy and I've never tried to predict the market; I've always just decided upon a moderate/aggressive allocation of some sort and stuck it out, changing very seldom. That has panned out okay, but now I'm thinking of following your daily/weekly recommendations and trying my hand at interfund shifts from time to time to see if maybe I can do a little better for a change....either that,or I'll just give some thought to your long-term fixed allocations....the aggressive one is very similar to mine already. Recently, I'verevised my strategy somewhat in that I've decided to limit my TSP automatic paycheck contributions to 6%(being sure to grab all the agency-matching "free" money) and I've established a ROTH which I'm going to fund with the remaining 9-10% of my monthly savings...so I'll still be saving around 15-16%. (I'm not financially able to max out BOTH my TSP and the ROTH simultaneously so that is why I'm splitting it up this way) My logic is this....I'm thinking that when I retire at age 55, I'll have enough accumulated in the TSP to draw on monthly for quite a few years, and then the ROTH will also be there, hopefully still growing somewhat and available for me to draw on tax-free a bit later in life. Is this a ridiculous strategy or am I on the right track? Also, if this is viable, should I take the plunge and still try my hand at a few interfund transfers while executing this strategy?:zzSorry this is so long. Hopefully you're not sleeping. Thanks.
Lacy
