TSP Millionaires

jpcavin · Mar 6, 2015

Frixxxx said:

I'm so screwed! :17::17::17:

jkenjohnson · Mar 6, 2015

jpcavin said:
I'm so screwed! :17::17::17:

But you are still in the 35 age range.

jpcavin · Mar 6, 2015

jkenjohnson said:
But you are still in the 35 age range.

I'll toast to that! :laugh:
:beerchug:

Birchtree · Mar 6, 2015

Women only get better with age.

wavecoder · Mar 20, 2015

So for those with big TSP accounts, what is the amount where it becomes the 'tipping point'? What I mean is around what point does it seem like the account starts to really increase in value? 100k? 200?

Lakebound · Mar 20, 2015

sniper said:
So for those with big TSP accounts, what is the amount where it becomes the 'tipping point'? What I mean is around what point does it seem like the account starts to really increase in value? 100k? 200?

300K in my experience.

Frank

wavecoder · Mar 20, 2015

Lakebound said:
300K in my experience.

Frank

Dang, i got a long way to go. I just recently passed 50k and was happy about that lol. But, I do have time on my side :smile:

Lakebound · Mar 20, 2015

sniper said:
Dang, i got a long way to go. I just recently passed 50k and was happy about that lol. But, I do have time on my side :smile:

Yes you do. I on the other hand do not with regard to time left in service. However, following the right advice and balancing prudence with some informed courage, I hope to improve my balance in a few years into retirement.

Frank

Maricar19 · Mar 20, 2015

sniper said:
Dang, i got a long way to go. I just recently passed 50k and was happy about that lol. But, I do have time on my side :smile:

You'll get there in no time..without realizing it...

Lakebound · Mar 20, 2015

Maricar19 said:
You'll get there in no time..without realizing it...

Correct!

Frank

Shamus13 · Mar 20, 2015

I hope the time goes by quick, I have 20+ years to go. Every year I increase the amount I contribute and am almost at the max. If I'm lucky I'll hit $100,000 around this time next year. Here's to retiring YOUNG, RICH & HAPPY!

Lakebound · Mar 20, 2015

Shamus13 said:
I hope the time goes by quick, I have 20+ years to go. Every year I increase the amount I contribute and am almost at the max. If I'm lucky I'll hit $100,000 around this time next year. Here's to retiring YOUNG, RICH & HAPPY!

As someone who will retire next April, I would like to say: "Don't wish your life away" like that. Enjoy your life, you family and your career. Keep an eye on your TSP account but don't let it be the focus of wanting time to move faster.

My 2 cents,

Frank

Shamus13 · Mar 20, 2015

I'm 33 with 5 yrs in service. I have to focus on retirement because I'm shown the door at 57. I hope to be in a spot that I can retire at 50. Or at least be financial prepared so I can consider that as an option. Time is already flying with my family. I caught my oldest daughter talking about boys with her friends. That freaked me out. :blink:

uscfanhawaii · Mar 21, 2015

Lakebound said:
300K in my experience.

Frank

When I started realizing it was when changes in market value was larger than my contributions!

Yeah, you start seeing that between 300-400K.

arty:

Frixxxx · Mar 21, 2015

uscfanhawaii said:
When I started realizing it was when changes in market value was larger than my contributions!

Yeah, you start seeing that between 300-400K. arty:

I think that is the same with me. When market days were 1% movements and that was more than my contribution for the pay period....WOW!
But when you get to market movements higher than your yearly....can be intimidating!

Patience and strategy!

Maricar19 · Mar 21, 2015

uscfanhawaii said:
When I started realizing it was when changes in market value was larger than my contributions!

Yeah, you start seeing that between 300-400K. arty:

I would say $200K for me - because a slightly aggressive/conservative 10% annual earnings of $200K is greater than the allowed max contributions.

Boghie · Mar 21, 2015

I first had to adjust to using percentages rather than actual growth numbers somewhere around a $100K. I realized it was dumb to freak out at a 1% loss meaning a cool grand and started looking at account changes as percentages. This site - and the AutoTracker - helped enormously with that...

As far as a true tipping point, I would say somewhere around $200K. That was when Quicken kinda told me that increasing my contributions by a point or two didn't really matter to my retirement.

By the way, $50K was a nice milestone. I liked it, and you should too. It is an area where a nice market boom really helps your account.

Lakebound · Mar 21, 2015

Boghie said:
I first had to adjust to using percentages rather than actual growth numbers somewhere around a $100K. I realized it was dumb to freak out at a 1% loss meaning a cool grand and started looking at account changes as percentages. This site - and the AutoTracker - helped enormously with that...

As far as a true tipping point, I would say somewhere around $200K. That was when Quicken kinda told me that increasing my contributions by a point or two didn't really matter to my retirement.

By the way, $50K was a nice milestone. I liked it, and you should too. It is an area where a nice market boom really helps your account.

If I may ask, was there a point in time when you actually backed your contributions down? Are you retired now? If so, did you taper your contributions at all?

Thank you,

Frank

Boghie · Mar 21, 2015

Lakebound said:
If I may ask, was there a point in time when you actually backed your contributions down? Are you retired now? If so, did you taper your contributions at all?

Thank you,

Frank

Not really. I backed off considerably in 2007 because the market seemed kinda toppy and the contributions were dwarfed by growth at the time. I wouldn't say I tapered contributions solely for the reason that my end result in retirement did not change much. By the way, I dramatically bumped my contributions in late 2008 and again in early 2009 to take advantage of the falling knife (thank you BT).

Right now is another inflection point. At my age and with my current balance an increase of a point only adds about a grand per year to retirement. However, if I zeroed out my contributions I would lose about $14K per year. Don't want that. So it does not really pay to bump my contributions but it would be rather dumb to dramatically dump them. If I just went to full match than the cut would be about $7K per year.

I like the tax break - it is the only one I get - and I like the $500/month so I think I will stick where I am...

Lakebound · Mar 21, 2015

Boghie said:
Not really. I backed off considerably in 2007 because the market seemed kinda toppy and the contributions were dwarfed by growth at the time. I wouldn't say I tapered contributions solely for the reason that my end result in retirement did not change much. By the way, I dramatically bumped my contributions in late 2008 and again in early 2009 to take advantage of the falling knife (thank you BT).

Right now is another inflection point. At my age and with my current balance an increase of a point only adds about a grand per year to retirement. However, if I zeroed out my contributions I would lose about $14K per year. Don't want that. So it does not really pay to bump my contributions but it would be rather dumb to dramatically dump them. If I just went to full match than the cut would be about $7K per year.

I like the tax break - it is the only one I get - and I like the $500/month so I think I will stick where I am...

Thanks for sharing that information.

Frank

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