Seeking for Retirement Advice

[bluntd]

Greetings everyone! I'm a 25 year old guy unsure of what to do for the future. I just started working for the federal government and contributing 5% of my salary to TSP to get the 5% matching, all in the G fund. After reading a few beginner's threads I am convinced to transfer and keep putting all my TSP savings into the L2050 Fund.

Now the thing is, I will wait 5 years after working for the federal government to decide wether to move back to where I live (Warm South Summer all year) and get a job in a private company because there are no federal engineering jobs (Willing to do it just to be live where I grew up and close to my family and friends) or keep working for the federal government and live in the cold North weather (4 seasons a year weather) far from family and friends.

Because of this 5 year span, I don't know if I should move and put all my money to the L2050 fund or what to do. I am seeking for honest advice.

Thanks to everyone who posts and shares their experience and wisdom!
Blunt!

 

[Birchtree]

Dump 100% into the C fund and walk away...you will not be sorry.

 

[nnuut]

Welcome to the Message Board Bluntd, stick around and join in then you can make your own decisions.
Best of luck
Norman

 

[WhoDey]

Dump 100% into the C fund and walk away...you will not be sorry.

I'm no expert, but this is exactly what I did 25 years ago when I began my Federal employment. I figured that the C fund would do well over the long haul and I had enough time in front of me to ride out any market fluctuations. Each year I added my pay raise to my contribution, so that my take home pay remained constant for several years, until I reached my contribution limit. I never really checked my account. I just kept contributing and figured that I had time on my side.

Fast forward 25 years. I have a nice account built up and with thoughts of eventual retirement beginning to take shape, I joined this community just last week to begin to learn how to more actively manage my account.

Good for you for having the foresight to begin saving at a young age!

 

[nasa1974]

bluntd, Welcome aboard. Great to see that you are taking charge and saving for retirement. Read a lot and ask questions. Bottom line is make the choice that feels right for you and not because someone said do this. We all have suggestions and you have to decide how much risk you want to take. Good luck.

 

[nasa1974]

WhoDey, great job and welcome aboard. Hope we can help into those final years before retirement.

 

[Dutchy]

Greetings everyone! I'm a 25 year old guy unsure of what to do for the future. I just started working for the federal government and contributing 5% of my salary to TSP to get the 5% matching, all in the G fund. After reading a few beginner's threads I am convinced to transfer and keep putting all my TSP savings into the L2050 Fund.

Now the thing is, I will wait 5 years after working for the federal government to decide wether to move back to where I live (Warm South Summer all year) and get a job in a private company because there are no federal engineering jobs (Willing to do it just to be live where I grew up and close to my family and friends) or keep working for the federal government and live in the cold North weather (4 seasons a year weather) far from family and friends.

Because of this 5 year span, I don't know if I should move and put all my money to the L2050 fund or what to do. I am seeking for honest advice.



If you sincerely want to maximize your return, follow the Message Board and those successful folks on the Auto Tracker and investgate the Premium Services. Intrepid Timer would get my endorsement. However, I'm not sure if he is accepting new enrollees. Good Luck!

 

[bluntd]

Thank you for all the advices. I will do my homework and be active.