Top 5 Mistakes Why Your TSP is NOT Growing | Thrift Savings Plan

Do you feel behind on your TSP retirement savings? Let's go over the top five common mistakes people make with their Thrift Savings Plan.

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⏰ Table of Contents ⏰
0:00 TSP Misallocation
5:12 TSP Fund Performances
9:44 TSP Savings Rate
12:36 TSP Catch-up Contributions
13:52 TSP Contribution Rate
15:17 TSP Calculator

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Disclaimer: I am not a financial advisor. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.

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[glasshalffull]

I increased my contribution rate by upping it every time I got a raise and this includes governments wide raises. After a couple of years I was maxed out and it didn’t feel like a big sacrifice as I always got some of the the raise in my paycheck. Of course if you’re saving to buy your first house, that might be a better investment than putting almost all excess funds in the TSP.

[fauxmixedhair]

Hey! Found your channel a couple of weeks ago. Great information.

[scottmijin]

Is there anyway for me to submit an email for inquiries? Just wondering why it’s best to max your ROTH IRA first before adding/maxing your TSP Roth. Thanks.

[wanderingcelle]

I have health issues so I have never looked at the HSA and use up all over my FSA money each year. Even with that, I STILL have health expenses I can write off on my taxes.

In that case is it still better to max out the Roth IRA over the TSP?

[glasshalffull]

If you have 10 or more years to retirement, I would be 100% in the C Fund. Just keep maxing out contributions and don’t try to time the market. (Timing almost never works out)

[jorgebautista]

Where is the tsp excel document to download?

[Novaximus]

I started my TSP at around age 38 (took me 10 years to get full time!) From then to current age 48 I've contributed 10% to the C fund. My salary has always been about the national average. My grand total is 130k. I don't feel like that's grown enough yet I feel like I made the best choices despite maybe that extra 5% to max it out. I'm not on track to that million dollar trophy. Where might I be going wrong?

BTW, I've taken to opening up a seperate brokerage account to invest in another sp500 etf fund and have been transferring most of my savings into that. Since at least I can access that money if I had to and move it around if I wanted to. Are these good moves?

[supermat]

Hey Psy, didn’t see that TSP spreadsheet you were showing off in this video on your website.

[Novaximus]

Question: After 10 years of contributing to a Traditional TSP, is it possible or even sensible to switch it over to a ROTH?