Although many federal employees believe that they must wait until age 59 ½ before taking penalty-free withdrawals from their TSP, that isn’t the case. In fact, there are a few different ways that federal employees can take withdrawals before 59 ½ and avoid the 10 percent penalty usually applied to early distributions. In this article,Continue reading “Withdrawing From Your TSP Early”
Author Archives: Jose Armenta, MsBA, CFP®, ChFC®, CLU®, EA
Are You Contributing Enough To Your TSP? (VIDEO)
In this video, I’ll cover a few rules of thumb for contributing to your TSP. If you want to learn more about your TSP, read this article.
Understanding Your TSP’s Investment Options
Among the many benefits of working in the Federal government is the Thrift Savings Plan (TSP). The TSP boasts fifteen broad-based investment options, including five individual funds (C, S, I, F, and G) and ten lifecycle funds. Although there is plenty of information available on the TSP’s funds, many Federal employees don’t understand the fundContinue reading “Understanding Your TSP’s Investment Options”
8 Ways Veterans Can Cut Their Child’s College Costs
As college costs continue to rise, funding what could be a substantial education expense remains a common concern for many parents. And although there are several great ways to save for your child’s education, from 529 plans to Coverdell accounts, the best way to reduce the overall financial burden of higher education is to cutContinue reading “8 Ways Veterans Can Cut Their Child’s College Costs”
5 Ways Your Federal LEO Retirement Benefits Are Different
For the most part, all Federal employees enjoy the same robust benefits, such as the Thrift Savings Plan (TSP), various insurance programs, and of course, the FERS pension. However, special category employees, namely law enforcement officers (LEOs), are eligible for enhanced retirement benefits and are governed by different retirement rules. Because these enhanced benefits andContinue reading “5 Ways Your Federal LEO Retirement Benefits Are Different”
Numbers Every Landlord Should Know
Everyone’s journey into the world of rental properties is a little different. Some made the deliberate decision to become a landlord, while others took a less intentional path and one day found out they were an accidental landlord. Regardless of which route you took, there are two metrics you need to know to understand theContinue reading “Numbers Every Landlord Should Know”
5 Things You Should Know About Withdrawing From Your TSP
Whether you are nearing retirement or still building up your nest egg, it’s important that you take the time to understand some of the complexities that are involved with taking TSP withdrawals. Understanding these complexities will help ensure you are not missing critical elements in the multistep retirement planning process. Read on to learn theContinue reading “5 Things You Should Know About Withdrawing From Your TSP”
The TSP Loan At A Glance
Like many 401(K)s, the Thrift Savings Plan (TSP) allows active participants to borrow from their accounts. However, before you can determine whether taking out a TSP loan is the right choice, you must understand how the TSP loan works. Read on for a quick review of the TSP loan nuts and bolts. How A TSPContinue reading “The TSP Loan At A Glance”
Does Your Agency Match Count Toward Your TSP Contribution Limit?
One of the biggest perks of the Thrift Savings Plan (TSP) is the generous government match. Yet, there is some confusion around whether the agency’s match counts toward the annual employee contribution limit set by the IRS. This confusion probably stems from the fact that there are two limits imposed on qualified defined contribution plans,Continue reading “Does Your Agency Match Count Toward Your TSP Contribution Limit?”
How Much Should You Contribute To Your TSP?
When you consider the Thrift Savings Plan’s (TSP) low fees, diversified funds, and generous government match, contributing is a no-brainer for most Federal employees. However, the question of “how much” to contribute is far more complicated. This question is difficult to answer because it depends on many variables, such as what age you begin toContinue reading “How Much Should You Contribute To Your TSP?”