Top 9 TSP Mistakes Made by Federal Employees

Short informative videos about the Federal Government Hiring and Employment Process, Building Federal Resumes, How to get promoted within the Government System, Gain Veterans Preference, How to maximize on the Government Thrift Savings Plans (TSP) Investiment Options , Federal Benefits, Federal Retirement System, Free Courses/Certification, Education Pay-Off Programs and more..

[jojowhite]

I retired at age 62 with 39 years of federal service and with my S.S. and FERS annuity, I make more than an individual in my career field with 41 years and 11 months. Plus, I was given 5% matching into my TSP account. The CSRS is great if you are planning to retire at 55 but to max out your CSRS payments, you have to have 41 years and 11 months. To max out your payments an individual will most likely be working until age 62. Now, where I live the cost of living is not that high (midwest) and I have no trouble with expenses and no need to tap into my TSP. If you look at it rationally, employees with S.S. and an IRA (no pension) would need to live by that 4%-6% rule. A retired federal employee with a nice TSP account could use this account for traveling, home improvements or buying that retirement property. I just don't get those that feel the need to leave the entire nest egg for their children.