jkenjohnson
Active member
It's Thurston Howell III, from Gilligan's Island.
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Or you can now use TapaTalk again!TSP Millionaires
- Thread starter Frixxxx
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Frixxxx
Moderator
Take the performance over the last 20 years and input the investment strategy to "estimate" what a run would look like. With the bubble pops of the last 15 years it will surprise you. Backtesting is fun, but you can only maneuver in the future against current state, goals, market performance.
So, averaging would be an interesting exercise.
k0nkuzh0n
Well-known member
I would also like to add that I am pleasantly socking more away for my retirement than I did as a civil servant.
Why? Matching.
I negotiated a $55K annual pay increase and they match 4%.
Since I was @max contribution, this is almost 3K more a year!!!!!!!!!
Nice boost! I'm in a similar situation. About half that increase, but they match 9% . Although can't forget about the agency pension contributions of around 12% for feds
Frixxxx
Moderator
Nice boost! I'm in a similar situation. About half that increase, but they match 9% . Although can't forget about the agency pension contributions of around 12% for feds
Yeah, hear you.....I was getting the shaft on reviews because of "politics" I actually will make out on the deal though. I'll manage my money into a nest egg that will be harvestable for many years to come!
Cactus
Well-known member
The number of TSP Millionaires is down 20% this year.
Number of TSP Millionaires Drops Below 2015 Level : FedSmith.com
FogSailing
Well-known member
OH NO! ANOTHER ENDANGERED SPECIES!!!
FS
uscfanhawaii
Active member
A very interesting thing about the stats in this article is that only about 10% of all the participants (at any age) have a balance > $250,000.
I would hazard a guess that a good portion of that 10% are members of TSPtalk!
So, Tom, why not run one of your 'informal polls' asking people to check off what their TSP balance is? I would suggest a simplified grouping. Say, <$250K, $250-500K, $500K-1MM, and >$1MM. I bet that TSPtalk stats will show much greater than 10% over $250K. Waddya think?! :beerchug: :feedback:
Boghie
Well-known member
Hopefully we can keep that poll up and promote it.
By the way 'Time is Money'. You will not have much money in your account without time of investment. Unless, of course, you are a trust funder - and then it really would not be in your TSP account...
DCRanger
Member
That seems to make the most sense. I can't see how anyone on active duty, and starting in late 2001, even with perfect timing of the markets and max contributions every year ( there's no matching for military) could even get close to a million. I started my TSP in early 2002 and maxed out most years until I retired from the AF in 2012. With no contributions since 2012, I'm just north of $210K.These #'s don't account for the people that transferred out of the TSP at retirement. I started my TSP acct when the max was 10% & increased to 15% when it was available. I'll have 27 yrs in TSP at retirement & if I can finish next 10 yrs with 9% average will push over 1 million. Non-supervision started as GS-11 not doing catch up contributions. I believe if people that transferred out of TSP were included the # is higher.
burrocrat
Well-known member
the no matching tsp funds for military is a pretty tough sell for the civilian population. military enjoys a range of tax free and subsidized benefits like housing allowances, can retire with an annuity for life after 20 years, free lifetime tri-care, and with veteran's hiring preferences can go on to serve in the civilian federal service and put in another twenty years or more while earning the 5% match and another annuity. a horse apiece if you ask me.
PessOptimist
Well-known member
Won't argue with you, just a clarification of something people state over and over which is not true. "free lifetime tri-care". NOT. Tri-care costs me $565.20 per year and Delta dental plan cost me $721.80 per year. Cheap but not free. When I turn 65 Tri-care converts to Tri-care for life which is free IF you pay $1461.80 per year for medicare part B.So let's just leave that free medical care for life bs out of it.
PO
k0nkuzh0n
Well-known member
Are those costs for JUST you, or you + family?
uscfanhawaii
Active member
Thanks, Tom!!
already entered my poll selection!
PessOptimist
Well-known member
Family. A small twist in it is that when I turn 65 my wife is 62 so I must pay tri-care premiums for her and medicare part B for me until she turns 65. Something I never thought of until tonight is do I have to pay part B for her to get TFL? Guess I better look at that. That would make the "free for life" medical care around $3k per year. Dental plan carries on as is with about $10 increase per year.
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