eyesowikkid
New member
Hello everyone! I'm hoping you all can give me some insight to TSP and what I need to do to get where I should be. First a little history...
As of 1/18/14, I will have 14 years of govt. service in a Law Enforcement field. I have contributed to TSP from the beginning, but didn't really know what I was doing. Currently, I contribute 12% and have almost $114,000 in my TSP. My PIP for the last 12 months is 15.47%. I guess not bad for not understanding what I'm doing. I am 47 and can retire in 6 years with 20 years in or I can work 9.5 more years with mandatory retirement at 57.
Now for the questions...Looking at my contribution allocation, I have75% in G and 25% in C. My account distribution is 37.61 in L2020, 33.75 in G, 17.5 in S and 11.14 in C. Now, I thought I had 100% in L2020. Is this just how L2020 has broken it down for me? I'm pretty sure I didn't set it up this way. Also, someone told me that I should put all of my allocations in G but my distribution in L2020 or however I feel it should be dispersed. I feel I need to catch up as retirement is bearing down on me and I know that I am not where I need to be financially. I am going to up my contribution but want to put it where it will do the most good. With 6 - 9 years to go, is the L2020 probably my best bet since it will adjust as I near retirement and I am not so secure in moving it myself? Or perhaps do 50% in L2020 and split the rest between C, S and I? I know opinions may differ but I'm open to hearing what more experienced investors have to say. Also, should I move all of my allocations to G?
Many thanks in advance for direction, opinions and/or expertise!
As of 1/18/14, I will have 14 years of govt. service in a Law Enforcement field. I have contributed to TSP from the beginning, but didn't really know what I was doing. Currently, I contribute 12% and have almost $114,000 in my TSP. My PIP for the last 12 months is 15.47%. I guess not bad for not understanding what I'm doing. I am 47 and can retire in 6 years with 20 years in or I can work 9.5 more years with mandatory retirement at 57.
Now for the questions...Looking at my contribution allocation, I have75% in G and 25% in C. My account distribution is 37.61 in L2020, 33.75 in G, 17.5 in S and 11.14 in C. Now, I thought I had 100% in L2020. Is this just how L2020 has broken it down for me? I'm pretty sure I didn't set it up this way. Also, someone told me that I should put all of my allocations in G but my distribution in L2020 or however I feel it should be dispersed. I feel I need to catch up as retirement is bearing down on me and I know that I am not where I need to be financially. I am going to up my contribution but want to put it where it will do the most good. With 6 - 9 years to go, is the L2020 probably my best bet since it will adjust as I near retirement and I am not so secure in moving it myself? Or perhaps do 50% in L2020 and split the rest between C, S and I? I know opinions may differ but I'm open to hearing what more experienced investors have to say. Also, should I move all of my allocations to G?
Many thanks in advance for direction, opinions and/or expertise!
