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”
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”
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?”
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?”
In this video, I’ll cover whether you can have both a Roth TSP and Roth IRA and some of the differences between the two. If you want to learn more read this article on the TSP.
The Thrift Savings Plan (TSP) is a qualified retirement plan, which means the plan meets specific IRS requirements and, as such, receives additional tax benefits and protections. The tax benefits you’ll receive and how your withdrawals will be taxed depends on whether you have a traditional or a roth TSP. Traditional vs Roth Taxation TraditionalContinue reading “How Is Your TSP Taxed?”
In this video, I’ll cover 2 tips to help you invest your TSP the right way. And if you want to learn about aligning your money with your goals, read this article.
The Thrift Savings Plan (TSP) and the Individual Retirement Arrangement (IRA) share many similarities, such as the option to fund with pre-tax (traditional) or after-tax dollars (Roths); having penalties for early withdrawals and failing to take required minimum distributions beginning at age 72. However, there are some important distinctions between the two accounts, such asContinue reading “The TSP vs. the IRA: What’s the Difference?”
Having the choice of contributing to a Traditional TSP or a Roth TSP provides you with a significant tax planning option—but it does force you to make another financial planning decision. Many people find making this decision a challenge because there’s no one right answer for everyone, and it depends upon several factors. What’s NotContinue reading “Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional”
The Thrift Savings Plan (TSP) is designed to closely resemble the private sector’s 401(k). Although the TSP is similar to the 401(k), its additional features, including low fees, broad diversification, and a generous government match, make it superior to most 401(k)s and a perfect wealth-building vehicle for Federal Employees. Here’s a closer look the threeContinue reading “Three Advantages of the TSP”