unknowneinstein Introduction

[uscfanhawaii]

Welcome to the boards, unknowneinstein!! Just starting out? Put in as much as you can, put it in the stock funds, and dollar cost averaging will take you a long way. Don't forget to join the autotracker and link that to your Account Talk forum thread.
Good Luck!!

 

[unknowneinstein]

Thanks everyone for all the replies! It looks like I really need to just start out reading a bunch, and thats what I'll try to do.

 

[nasa1974]

Ben, Welcome aboard. There are many good ideas and lot's of opinions to go around here. Just remember that even though we have opinions or suggestions, you are the one that needs to make the decision that will affect your TSP. The decisions you make will be determined on how comfortable you are on the risk at hand. Sure wish I had a class back when I got started in TSP (mid 80's). This is a great place to learn and share. Good luck. P.S. Make sure you start up your own account talk thread.

 

[Kaufmanrider]

Ben, welcome. Get yourself a few books on technical analysis, market timers, etc., and start reading. Amazon has many. And read posts on this site for ideas.

I started in TSP at 23, 25 years ago, however, I didn't really start tracking my money until this past year, I have a good size balance, but if I had started at 23 I am sure it would be a lot larger. I use a premium service to help me make my moves and learn until I feel comfortable/educated enough to make my own.

Contribute all you can, hopefully 15%, and when you can get to the max allowed yearly 16,500. I started at 5% to get the 5% match, and then each time I got a step increase, COLA, or promotion, I upped the amount. COLA's don't look good the next few year, but at 22 you will have many step increases and promotions coming. You'll get to 15% in no time.

 

[tsptalk]

Welcome, Ben! I think just reading the daily posts will give you a feel for how many of us approach the market and IFT's. As far as basics go, you are doing the right thing by starting early and educating yourself. Digging into old posts, perhaps usung the search feature, might help you with specifs, or of ciurse you can ask us any time.

You can also see what many of our member are doing by watching the AutoTracker moves: http://www.tsptalk.com/tracker/tsp-tracker.php

Good luck!
Tom

 

[RealMoneyIssues]

Congrats on starting so early, I really wish I had. Welcome to the board !!

There is a ton to learn. I would point you to the other member's account talk (http://www.tsptalk.com/mb/forumdisplay.php?12-Members-Account-Talk) and read up on what others are doing and start formulating your own plan. Or, you can use others' (https://www.tsptalk.com/members)

Good Luck !!

 

[nnuut]

Welcome to the Message Board Ben. With 30 to 40 years to invest it's a great opportunity for you to assure yourself a prosperous retirement, invest all you can afford. A good place to start on the message Board is to know the rules and learn about our Auto Tracker, follow the below link. I'm sure you will get plenty of advise and it would help if you would read and read and read, lots to learn
Best of luck
Norman
http://www.tsptalk.com/mb/faq.php

 

[unknowneinstein]

Hey all,
My name is Ben. I am 22 years old and love money (who doesnt right?). I just started working, and thus contributing to tsp, about 3 months ago. I had it in the G-fund till I learned a little bit about it but now I have it allocated at 80% (S) and 20% (C). I attended a tsp class last week that taught me a lot of basic information I did not know about tsp, such as how G fund really isnt that safe because you risk losing money against inflation and how I-fund is a lot riskier than at first glance because you not only have to pay attention to the stock value but the currency value as well.

Anyway before this class I knew absolutely nothing and the class inspired me to really try to learn as much as I can, not just about TSP but about general investing, taxes, etc. I hope to become a regular participator on these boards. I know I am young but as most people say its better to start when you're young than to wait 10 years. I figure I have atleast 30 years to invest, probably closer to 40.

It would be much appreciated if someone could point me in the correct direction to learn about the 'basics'. I would like to know how people try to predict when to do IFTs and which funds to transfer it to. I know theres no sure way to predict it but there are probabilities associated with it. Also I know essentially nothing about the tax system other than I pay too much of it lol (I'm in the 25% bracket). So if someone could point me in the direction of learning about taxes, how to get around them and what I may be able to claim/deduct.

As far as investing in the tsp goes I don't care so much about risk. I played professional poker for 2 years so I can deal with days where I lose/make a large sum of money.

Any guidance is appreciated.

Thank you,
Ben