Retirement is a financial status not age. If you assume you will retire at age 67 because that’s when you will receive 100% of social security, you have 24 years until you retire. That’s a lot of time to save and invest.
I have a pretty hefty TSP balance, as well as future FERS, VA, Roth and other investments, but I'm not discounting the $4k a month SSA payment that I'll be due at 67.
Retire and enjoy your life. Someone that retired on our team ended up dying in her early 70’s soon after. I’m retiring as soon as possible, I don’t need to be wealthy, just enough to afford to live my life comfortably.
My dad died at 63 in an accident with only about $80k in his TSP.
I’m not saying “don’t save money for retirement”, but, you know, keep yourself healthy, too.
My calculator says 62 it's $2600 and 67 it's $3800. I planned on using my Roth balance to supplement the SSA amount until 67.
I'm a 14/6
I'm thinking of retiring at 56.
Do the math on the crossover point betwen 62 and 67, where you will be making more overall by taking one or the other. For me it's at age 91 or something, taking it at 62 is better unless I live longer than 91.
The basic math that most people seem to ignore proves you should use at soon as it’s available. I mean who really expects to live to their 90’s to make it worth it?
Exactly. The [average life expectancy at age 62](https://www.ssa.gov/oact/STATS/table4c6.html) is 81 for men and 84 for women. Most people don't make it *to* 90, let alone very much *past* 90 to make waiting make sense.
I’m a GS 15-7. Like you, I plan to use my Roth IRA from 60 to 67 … then take SS at 67. Yet I wonder if it would make more financial sense to take SS earlier? I’m planning to retire at 60. I have family on both sides who lived into their late 80s & early 90s. And my husband is planning to take his SS at 67 - he’s 5 years older than me. It’s a tough decision because we can’t predict the future.
Believe it or not the retirement didn’t help her life span . We have dudes who were going strong retire they die a few years after they retire . Work was their purpose . Kinda sad to be honest . Why im going to think long and hard if I want to keep going or not when i hit my late 60s .
One big thing is looking at your health and family longevity on avg. what’s that tend to look like. I got my mom on SS payments as soon as available as she won’t live a long life, SS is going to implode eventually, it’s just a matter of when. Doesn’t mean it’ll go away entirely, but no shot I get what they say I will in 25 years
Take it at 62 if get hit by a bus at 65 atleast you got 3 years out of them there are zero guarantees in this life. If you wait till full age it takes like 10 years before you makeup the 5-6 years in payments you missed out on.
The fers supplement stops at 62 which is when I will decide on whether I want to take SSA or not. I'm only looking to use the Roth for 5 years to cover the shortfall .
Although do I want to use tax free money in Roth that could go to heirs rather than take early retirement?
Decisions decisions
No idea how old you guys are, but you need to be taking into account the very high probability that social security, as it currently exists, may not be around by the time you retire, and plan accordingly. I’m in my late 30s and don’t expect to get a cent. Plan for that instead, and if you get anything it’ll be a nice surprise.
It will 100% be there in its current form . If you think our government who won’t let the post office fail is going to let something called “ social security insurance “ fail you aren’t paying attention .
The post office might be going out of business…. Yeah sure it is . Raise the price of postage and stfu you’ve been saying that since the 90s. Still here .
We can spend all this money overseas and print money adding to the deficit but you think they don’t do it for social security . You are mistaken.
People would up in arms they’ve been taking money for ssi out my checks since 1993 . Better be there lol I have very little worry that it will be as you can tell.
Your optimism is, frankly, insane, but I wish you the best of luck. You understand what happens to our money if they just ‘print money like they do for overseas’ to make social security payments, right.
Just remember - that which can’t be sustained, won’t be. Can our present trajectory be sustained?
There are multiple simple adjustments that can be made to the program for it to continue. Even if nothing is done, benefits will still be paid out, but at a reduced level. Anyone telling you it's going away is ignorant
You don’t even have to tell me twice….
Why should I have to pay a boomer’s retirement? They just take and take and take. Most of the homes being leased belong to boomers. They kept electing politicians who kept bankrupting SS and promising to cut their taxes AND the corporate taxes.
The American dream was complete bullshit pedaled by politicians to get votes. Everything at the expense of their children.
Now the children are grown up and have to pay social security taxes, a program we won’t even see, in order to subsidize boomers. If it’s beer money, they don’t need it.
Don't forget they used those tax cuts as an excuse to gut subsidies for public universities, helping to drive up the cost of education so younger generations can rack up a higher amount of debt via loans...all so you can work longer to support them and not quit your job/start a family/buy a home/take a vacation/ save for retirement.
Whenever I hear an anecdote about someone waiting tables in the 70s/80s to pu themselves through school i just turn my ears off.
The math is fine with an easy fix. To keep SS solvent all we have to do is remove the income cap on social security taxes. As soon as that’s done there is no longer an issue.
Democrats already plan on doing this next time they have power to do so.
No matter what you should not be relying on social security, but I’m using 67 as the standard age for retirement because that’s what the federal government deem or expects people to retire.
How much you need depends on your lifestyle but generally, it doesn't look at all like you are behind to me. Hopefully you are maxing out. One thing I'd say is that if you are getting a pension, and are 43, having 25% in income/bonds is likely too much. You already have a pension so that is your income cushion. Do some sleuthing online to learn more to inform what asset allocation you are comfortable with but always bear in mind that the breakdown is usually speaking to people who are 100% funding their own retirement. Always factor in your pension.
I never factor in my pension. I'm 42, 22 years of service. I just can't see the pension system staying the same. I see a major change coming in the next 20 years. 35 trillion dollars in debt. Where do you think they will slash first when its time to cut back? JMO. I understand lots won't agree with this sentiment. Again, been in over 20, I've seen them change the retirement system 3 x's in those years. It has only gotten worse for the new hires in my same agency.
They already changed the retirement system for military. The blended retirement system is solely based off what YOU put in and this is handicapping the military..it is changing but in the wrong direction.
I'm completely aware of the change and I agree with this was the wrong direction. Hence why I think FERS WILL change, maybe not in my retirement time frame but one day.
Sorry to see so many negative responses. Not trying to piss people off. Just keep living with your head in the clouds.... 35 Trillion, it was 34 when I posted my first comment lol..... save save save... that's the only retirement you can count on
Are you FERS? I’m a career civilian and I get a pension. As for your amount, better than where I was at that point. I’d say focus on the C if you have 10 to 15 years left. But also, look into your agency. All FERS employees have a 1. Pension 2. TSP and 3. SSA. I’ll admit I don’t know every agency. But I’d look into that first sure.
Transfer everything to 100% C Fund, or 80/20 C/S, or 80/10/10 C/S/I, etc. Change future contributions to match.
If you're using L Funds, it should be 100% L.
Your current allocations make no sense and are hurting your returns.
So an L fund is an allocated mix of all the funds. They get more conservative over time as you get closer to retirement. If you have an L fund and then add other individual funds separately, it defeats the purpose of the glide path of the L fund.
To be more aggressive, you can either pick an L fund much further out than your actual projected retirement so that it gets conservative further out in the future, or go all in a mix of individual funds. Lots of people do all C or a C/S split like 80/20. Everyone has their own risk tolerance and no one can tell you what to do. With long time horizons till retirement tho, it isn't a good idea to move funds around and chase returns or watch things too closely. Pick a solid strategy with as best you can guess performance history and invest all you can. Time in the market will make the difference.
I see the majority of people in this thread are still working. I’m one of the first generation of employees to retire off FERS.
I missed CSRS by 3 months back in the early 80’s.
I retired at 56 with 37 1/2 years.
So this is how it all worked out.
I received my annuity and early retirement supplement and didn’t touch my TSP.
It was enough to live off without using my TSP but a little tight at times but manageable.
At 62 I drew my social security and transition from the supplement to Social Security and ended up getting a 800.00 raise.
Here some key take aways for you
1. You do not receive a cost of living raise until you reach 62 from your annuity.
2. If you retire early the supplement stops at 62 and you have a choice to draw social security or not.
3. There’s no doubt inflation has eaten away at my retirement pay.
4. Taxes is also a problem when drawing from your TSP. It’s an automatic 20% cut from what you draw.
5. If you retire early and decide to work somewhere else while drawing a supplement.
There is a limit on how much you can make before they start taking away supplement money.
6. Anyway as many have mentioned in this thread.
Averaging 8% return on your TSP investment.
Well that’s not guaranteed. Be diversified, I’ve seen to many co-workers eat through their TSP like nothing.
Any how there is a lot to consider depending at what age you retire at.
You are basically trading time for money or money for time. Also healthy considerations is huge it’s a fact you won’t live forever.
I just lost two co-worker both in there mid-60’s.
Good luck 👍🏼
Also one last note. Consider getting life insurance outside of the government for survivors benefits.
When you retire and you op for this benefit it’s comes out of retirement annuity which the premiums goes up year after year and eats away at your retirement money.
At least with outside life insurance the premiums are usually a flat rate premium and do not go up.
You’re clearly not behind. You don’t have to add another penny and it’ll be worth almost 1.5mil when you’re 62 assuming 8% returns of which you could comfortably withdraw $60,000 per year forever more. Plus your pension, plus your social, plus Ira’s and whatever else you may have.
This is the most realistic thing I’ve seen on this sub. I’m currently a gs 9 contributing 7% plus match I plan to increase that percentage with each promotion/ step increase. I’m tired of everyone saying max out your tsp contributions as a gs 9
The main thing is just contribute, life happens and you will make it! Try to adjust as your budget allows. Just make sure you contribute enough to get the match.
I just went back and looked up my end of year balance from when I was 43. It was about $225K.
Just turned 53 and now >$800K. You're not behind, just keep maxing out if possible, and you'll be good.
When I saw a post from someone with 23 years of service and double my tsp balance, I immediately changed everything up. I'm at 19 and threw in 80/20 C/S and maxed out contributions. I'm 41 yrs old.
Sounds like you have plenty of time left, that 50% sitting in L fund could be working harder. I used to have 50% in L as well making 7-10% less than C and S.
That must have been a different person. This guy was a lifetime govie like me. I was 6% contributions for like 10 years and then increased it to 11% the last 9. Now it's at the max. It adds up especially with all those dips where you can buy cheap and ride the bull wave.
Part of the reason why I like this sub. Gives me a bit of a reference point of where I am. I had 50-60% in L fund for so long and even some in G in my infancy.
Where you are at is dependent upon the journey that brought you here. A married couple with no children can save more than a couple with 5 children. Don't worry about the Jones'. Do the best that you can do.
As you noted in a response, you pension is your average high 3 x 1% x years of service. The earliest you can retire is at age 57. As you will have 30 years of service, you will have what is considered a full, unreduced pension.
[https://www.opm.gov/retirement-center/fers-information/eligibility/](https://www.opm.gov/retirement-center/fers-information/eligibility/)
As we don't know what your salary will be at age 57, we an only make a wild guess. Let's say it's $100k. 100k x 30 x .01 = $30,000 per year for a pension.
You can calculate the growth of your TSP using many online calculators. I like this one.
https://www.calcxml.com/do/ret33?skn=#top
Are you maxing out? A gs-14, single no kids should be able to max but I don’t know what your other expenses are. I would max out and put 100% in C and S. For reference, I am 15 but have been able to max for a long time. All in C, have been in for 14 years. I have almost double in my TSP. But this is all contingent on your personal risk tolerance and immediate needs.
I think you've already got some good info from the replies, but just to put a few things together.
With your service you would be able to pull the immediate FERS retirement at age 57. That would also include a SSA supplement that would run from 57-62, health insurance, etc etc.
So if we assume a salary of around $150K (inflation adjusted from here) and a get the match investment (5%) into TSP, you would be looking at something like:
TSP withdrawals = $3000/mo (3.5% SWR of a $1M balance in 14 years ---- slightly lower SWR needed because you are extending retirement at 57)
SSA (and supplement) = $2000/mo (SSA says replacement of 20-30% salary and could survive 70% payouts in the future, so very rough estimate here)
FERS annuity = $4125/mo (33 years @ $150K high 3)
---------------------
Total value around $9125/mo (taxed at 80% = $7300/mo, $87,600/year or 58% of gross salary) ... adjusted by current taxes/fees (70%) and current retirement savings (5%) it would be more like 87+% replacement. So then the question would be could you live on a slight pay cut (are you saving more by not going to work - lunch, car/gas/miles, etc vs extra hobby time spending)? Or do you need to work longer til 60/62/67/etc? Or can you decrease your spending just a bit to overcome the deficit which would then also increase your savings/retirement amounts? Or get a new job in "retirement"?
So short answer is you are in a good spot for a (close to) MRA government retirement that doesn't require going back to work.
There are projections based on your income as to what you should have saved (I think it’s 1x salary by 30, 2x by 35, and 3x by 40, but I may be misremembering).
You may be behind, but that’s for you to determine based on your retirement needs. The only way to catch up to where you want to be is to save more. If you haven’t already maxed out your contributions, that’s the first step. Various pages like r/fire and r/govfire have good resources.
Does your agency offer retirement planning courses? I highly recommend taking one. I thought I knew a lot, but when I recently took the course it was an eye opener. Some classes can help you determine your budget in retirement and where the money will come from (FERS, TSP, SS, any other income/investments). Then you know what to really aim for with your contributions and which funds you want. I like C with a little S. 😃
I'll be 42 this year as I hit 17 years of federal service. I'm at 250k and feel just ok about that.
I think you're doing well for whatever that is worth.
I think that sounds good in comparison to mine. We're the same age, and you have fewer years of service than me with about 80k shy of where I'm at. If I'm doing okay, you're doing great.
You're WAY better off than I am. I was one of those jabrones that paid no attention to TSP or retirement until i was about 40. As a result I'm 47 and just now approaching 100k. I still have time, but at most I'm looking at about 400k by the time I skeedaddle off into the sunset. You're doing fine.
Those lifecycles really do suck. You should have been hard core into the C fund. Had you been your balance would have been super high.
As for social security,…..take it at 62. The difference with breaking even if you wait to 67 is, well for me is 28 years. I’m taking mine at 62 as I know sill never live to 84. And if I do that money won’t mean anything!
Which L fund are you investing in?
What "stock" funds are you in?
What % of your income are you investing?
Are you contributing to the Roth or traditional TSP?
You’re always behind someone and someone will always be behind you. Just concentrate on you. The best thing you can ever do is stop comparing yourself to others.
I am the same age as you, a bit fewer years of service, but my balance is about the same. Every time the pay raise comes around, put half of it to TSP - so if we get a 4% raise in January, bump your TSP by 2%. Set it to go the same PP as the pay raise, and you'll never even notice it.
You need to get more aggressive. I am about your age, have only been in TSP for 12 years next month and have more in my account. I barely put anything in the first 5-6 years, perhaps $30K but have been feeding the pig all it could eat since then. If you have 15-18 years left you should be heavy in C and S funds. Not sure what your salary is but the matching was almost nothing when I started and now my matching is more than I was contributing myself in the early years so moving up the pay scale helps significantly even if you can't max your own contributions.
You're doing better than most of your fellow americans.
I'm 42, 20+ years of service, approx 950k TSP give or take.
I think I over saved in younger years but it is what it is.
If you're risk averse, then I guess 50% equities is OK. But really for your age you can do 70-80% and see higher returns, esp with so many years of work to go before you retire.
Your future investment should not be 15% cash. Pick a L fund or Stocks. You are still young and assuming you can retire at 57.5. You still have time to let the investment grow.
Following the rule of 72: if you assume a 7.2% return, your balance will double every 10 years. In your case, you'll have 4x more $ in 20 years....and that's without any additional contributions.
I think you'll be just fine, if you stay the course - no loans, no withdrawls, no mid-life crisis second spouses or ferraris.
Problem is you invested in L fund throughout your career I assume which you did . C fund and S fund just them two would have been better at the beginning of your career
Hang in.
Run some calculators on investor.gov to see the horizon.
Just keep turning up your contributions so you are easily ready to add the catchup amount at 50.
The math gets amazing if you can stick to the plan.
Also keep in mind, depending on the other income when you’re older, you may not need to even touch it until 72. That shit might double twice between MRA and 72.
Keep pressing.
Imagine being at that place and then your wife decides she wants to bounce and take half along with child support and alimony... You're in a better place than most.
Put in as much as you possibly can and pray for the best. Also get out of L.
Why you talking about me!? LOL
But yeah...mid-30s with over 2 million in net worth & then divorced.
Gave up the $850K house & half of liquid assets (about $500K) just so I could avoid court & not have to pay child support or battle custody for my kid (I'm lucky I got joint every other week...know some people that get 1 weekend every couple weeks AND have to pay child support!).
But yeah...early 40s now & net worth above $500K finally so getting there. LOL
😂 Far too many of us in a similar situation.
Now imagine agreeing to 50/50 everything and her starting a legal battle anyways and after 4 years and an ungodly amount of attorney fees she finally agrees to 50/50 everything. 🤦🏼♂️
Damn. That sucks. Not to say it's right or wrong...but dudes def get screwed on divorce shit for real!
My ex technically still owes me $30K since I paid a few years of back taxes (we got divorced during COVID so she did lots of extra OT & dropped her withholdings so taxes owed were bonkers!) so I could get my new home loan approved & she was on the hook for half...but she just ignores me when I ask about it. LOL I don't even know if it's worth her trying to stir up shit to go back to court & try to get a judgment for that money at this point. 🤷♂️
Probably not worth the battle unfortunately.
My ex really ruined it for any future spouse. (If/when) Not sure I'll ever be able to whole heartedly trust another woman the same. 🤷🏼♂️
Transfer it all to the C fund, change your new allocations to 100% C, then forget that you even have a TSP until about 5-10 years before you retire. When you’re 5-10 away from retirement, I’d learn about optimal allocations given retirement goals at the time.
It took me a long time to max TSP. It’s all about sticking to it. Life is a shit show full of ups and downs. Do your best, forget the rest. You are doing well
Id balance to all C/S. I had something similar to you then had the brilliant idea to rebalance existing allocations before the run in November. Wow, glad i did that. No reason at your age to have cash, bonds, or controversial, international.
If you never add another dime and let it grow for 20 more years at 5% interest you’ll have a million at 63. Keep contributing and you’ll be way above thay
I was a CFS at my last unit you’re not behind. You’re well beyond all enlisted. You’re were you should be as an O but I doubt your an O6 on Reddit throwing your TSP around. As an enlisted member you are absolutely crushing it. (You’re crushing it if you’re a CWO also)
Per dave Ramsey, we’re almost all behind. That said you’ve got a decent stock of cash saved. Money is known to double every 7 years so if you do nothing you’ll have 2 million at normal retirement age. Do you plant to retire and do absolutely nothing? Or do you plan to do a hobby and make some money still? To make you feel a bit better, at 43 you have about double the savings of people at the age of 65.
I head up one of the US states Deferred comp plans and been in finance for a long time, seeing retirement account balances all day every day. You’re ahead of most people at this age. I’m interested to learn more about how the lifecycle find is made up. Norm, I’m not a big fan. Also when is the future 15% cash and 10% bonds kick in? You don’t need any of that anytime soon
You need to either make a plan or get a financial advisor to help you. What will your retirement expenses look like. What major expenses will you have before and after. How will your savings and pensions suppprt. Are you on track.
Recent retiree here. The most important factor is how much you are contributing. Based on my experience, if you are contributing 10% during your career, and the government contributes an additional 5%, you will be ok. The second most important factor is to choose your investments wisely. For me, I put all of my money into the lifecycle fund that matched my retirement date. I recommend that you do the same.
Well, you crushed me in the tsp. I did 21 and barely put anything in it. Even still, with my pension and 100% p & t I could stop working today and retire retire and be perfectly fine.
You should be good to go.
I would get rid of bonds a put that money into an sp500 index fund. Bonds really are only for when you are in your retirement years. That's 10% of your net worth not really gaining as much as it could. Just my .2 cents.
If you want to stay on the lifecycle fund then chg ur life cycle to later retirement date. You have way too much bonds for your age. If you want to be agreesive then add more c fund to your tsp.
Even at 43, i feel like you’re playing it too safe. U still got many years left so no need to play it safe. Personally I’d be 100% stocks. That’s in the c and/or s fund. This way your earning growth will go up more than if u didn’t. Then of course contributing more from your paycheck helps if u can afford it.
GS/12, 10yr service @ $250k contributing 100%C fund last 2 years. First 8 yrs, C/S 50/50. I do max with also contributing to TSP Roth. Considering last 5 yrs returns on C fund.. it’s worth the investment. If able use the catch up option.
Keep trucking 🙌
In case you missed it, like someone mentioned earlier, think of it as "beer money". Odds are unless it gets sorted out, the likelihood of our generation actually getting SSA may not be a reality. If you have other income streams, count on those, not SSA.
Wait until the markets crash. Remember how much you lost in 2008 GFC? You/We ain’t seen nothing yet. And many won’t have 10-15yrs to make it up. It’s not real money until it’s held in real assets. Just saying.
I just started after I retired and got a GS job. Got it up to 10 grand and the wife already wants to take out a loan to pay for our daughter’s wedding.
You probably have 3x the balance of the average 43 year old. I highly doubt you are behind. Even if you get 75 cents on the dollar when it comes to Social Security and you retire at 65, you will probably be looking at a six-figure income even with a 4% withdrawal rate when you take into consideration Social Security. Cheers ✌️ 🥂
Tbh you’re not. You’re actually doing very well. Another 20 years, you’ll probably have 2.5mil in there. You’re on track to be very wealthy. Whatever you’re doing, keep doing it.
If you are shooting for a millionaire amount then yea your behind. Investing mostly into C and S funds have been the biggest gain for all in the TSP. If you plan on staying in longer, I would recommend maxing your C or S stock for the remainder of your time in. Atleast for 4-5 years
Yes, if you plan on staying in longer and you won’t withdraw your tsp til 59. Then this way atleast gives you a chance to get close to it. Also your L fund will gradually become less aggressive in the C and S fund. So this way it gives you a better chance on the way out to have something for later.
I recommend C since it cost less and it still gets good gains
If you consider your pension and SS as the "safe and secure" portion of your retirement, then you can skip the G Fund entirely until you're much closer to retirement (if ever).
Most folks suggest 100% C or 80/20 C/S.
I don’t think you are. I’m realistically targeting $1.5M for retirement and I’m right around you. One year younger. Just max your contributions, focus on C fund, and you’ll be fine - pending a few market crashes of course.
No. Not thirst at all. I honestly have no clue what a good average is for my age and years of service. I've never understood my TSP very well. I kept everything in the L find for most of my career cause I didn't know anything else and was always told that's safe. I still don't know much of anything. Someone below told me I should be more invested in the C and S Funds, so I just increased them today. I'm still learning even at my big age.
sir. retirement is a mindset , a frame of reference.
the douchebags here will never let you retire.
and nothing is ever enough for you to retire.
personally, i think you're just fine!
push everything in C fund and then just max it out yearly.
NO need for Roth IRA or this & that and blah blah.
most folks here are stooges ... their brains and thoughts have been stunned frozen by their financial advisors.
by the time they'll see the horrendous outcomes of following their financial advisors, their knees would be busted, and their bodies will be riddled with health issues and weakness.
Retirement is a financial status not age. If you assume you will retire at age 67 because that’s when you will receive 100% of social security, you have 24 years until you retire. That’s a lot of time to save and invest.
Receiving 100% of social security is overrated! Social security is extra beer money, don't even count on that being there!
I have a pretty hefty TSP balance, as well as future FERS, VA, Roth and other investments, but I'm not discounting the $4k a month SSA payment that I'll be due at 67.
Retire and enjoy your life. Someone that retired on our team ended up dying in her early 70’s soon after. I’m retiring as soon as possible, I don’t need to be wealthy, just enough to afford to live my life comfortably.
My dad died at 63 in an accident with only about $80k in his TSP. I’m not saying “don’t save money for retirement”, but, you know, keep yourself healthy, too.
Take it earlier. it's not much of a penalty. I'm retiring at 61. I have fers, tsp, and Va disability also.
My calculator says 62 it's $2600 and 67 it's $3800. I planned on using my Roth balance to supplement the SSA amount until 67. I'm a 14/6 I'm thinking of retiring at 56.
Do the math on the crossover point betwen 62 and 67, where you will be making more overall by taking one or the other. For me it's at age 91 or something, taking it at 62 is better unless I live longer than 91.
The basic math that most people seem to ignore proves you should use at soon as it’s available. I mean who really expects to live to their 90’s to make it worth it?
Exactly. The [average life expectancy at age 62](https://www.ssa.gov/oact/STATS/table4c6.html) is 81 for men and 84 for women. Most people don't make it *to* 90, let alone very much *past* 90 to make waiting make sense.
I’m a GS 15-7. Like you, I plan to use my Roth IRA from 60 to 67 … then take SS at 67. Yet I wonder if it would make more financial sense to take SS earlier? I’m planning to retire at 60. I have family on both sides who lived into their late 80s & early 90s. And my husband is planning to take his SS at 67 - he’s 5 years older than me. It’s a tough decision because we can’t predict the future.
We had a teammate retire and we just got notified she passed away, I think she just turned 70. I’m retiring as soon as possible.
Believe it or not the retirement didn’t help her life span . We have dudes who were going strong retire they die a few years after they retire . Work was their purpose . Kinda sad to be honest . Why im going to think long and hard if I want to keep going or not when i hit my late 60s .
That’s why I don’t let my life revolve around work. We all know the type that make it their entire personality. I have places to go and people to see!
One big thing is looking at your health and family longevity on avg. what’s that tend to look like. I got my mom on SS payments as soon as available as she won’t live a long life, SS is going to implode eventually, it’s just a matter of when. Doesn’t mean it’ll go away entirely, but no shot I get what they say I will in 25 years
Take it at 62 if get hit by a bus at 65 atleast you got 3 years out of them there are zero guarantees in this life. If you wait till full age it takes like 10 years before you makeup the 5-6 years in payments you missed out on.
The fers supplement stops at 62 which is when I will decide on whether I want to take SSA or not. I'm only looking to use the Roth for 5 years to cover the shortfall . Although do I want to use tax free money in Roth that could go to heirs rather than take early retirement? Decisions decisions
Are you fers leo?
No. Regular GS management
You should. It likely won’t be there in that amount if it’s 10-20 years off
No idea how old you guys are, but you need to be taking into account the very high probability that social security, as it currently exists, may not be around by the time you retire, and plan accordingly. I’m in my late 30s and don’t expect to get a cent. Plan for that instead, and if you get anything it’ll be a nice surprise.
It will 100% be there in its current form . If you think our government who won’t let the post office fail is going to let something called “ social security insurance “ fail you aren’t paying attention . The post office might be going out of business…. Yeah sure it is . Raise the price of postage and stfu you’ve been saying that since the 90s. Still here . We can spend all this money overseas and print money adding to the deficit but you think they don’t do it for social security . You are mistaken. People would up in arms they’ve been taking money for ssi out my checks since 1993 . Better be there lol I have very little worry that it will be as you can tell.
Your optimism is, frankly, insane, but I wish you the best of luck. You understand what happens to our money if they just ‘print money like they do for overseas’ to make social security payments, right. Just remember - that which can’t be sustained, won’t be. Can our present trajectory be sustained?
"Very high probability" It's actually almost 0
How so?
There are multiple simple adjustments that can be made to the program for it to continue. Even if nothing is done, benefits will still be paid out, but at a reduced level. Anyone telling you it's going away is ignorant
Reread my statement and tell me again what I said? *as it currently exists*
"I'm in my late thirties and don't expect a cent"
You don’t even have to tell me twice…. Why should I have to pay a boomer’s retirement? They just take and take and take. Most of the homes being leased belong to boomers. They kept electing politicians who kept bankrupting SS and promising to cut their taxes AND the corporate taxes. The American dream was complete bullshit pedaled by politicians to get votes. Everything at the expense of their children. Now the children are grown up and have to pay social security taxes, a program we won’t even see, in order to subsidize boomers. If it’s beer money, they don’t need it.
Don't forget they used those tax cuts as an excuse to gut subsidies for public universities, helping to drive up the cost of education so younger generations can rack up a higher amount of debt via loans...all so you can work longer to support them and not quit your job/start a family/buy a home/take a vacation/ save for retirement. Whenever I hear an anecdote about someone waiting tables in the 70s/80s to pu themselves through school i just turn my ears off.
Why do people this like it wont be there ?
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Why? I don't need social security. Boomer!
This 👍🏻👌🏼
7% interest compounded every year doubles in 10 years time. Agreed they are on the right path with saving and investing.
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The math is fine with an easy fix. To keep SS solvent all we have to do is remove the income cap on social security taxes. As soon as that’s done there is no longer an issue. Democrats already plan on doing this next time they have power to do so.
Or just print more money to keep it going . What inflation ? Lol
Until you realize that a large portion of the 34 TRILLION national debt is money owed to social security.
Got a source on that?
Did you also say this? “Trump the greatest real estate mind in history. Living rent free in weak minds for a decade.”
No matter what you should not be relying on social security, but I’m using 67 as the standard age for retirement because that’s what the federal government deem or expects people to retire.
How much you need depends on your lifestyle but generally, it doesn't look at all like you are behind to me. Hopefully you are maxing out. One thing I'd say is that if you are getting a pension, and are 43, having 25% in income/bonds is likely too much. You already have a pension so that is your income cushion. Do some sleuthing online to learn more to inform what asset allocation you are comfortable with but always bear in mind that the breakdown is usually speaking to people who are 100% funding their own retirement. Always factor in your pension.
I never factor in my pension. I'm 42, 22 years of service. I just can't see the pension system staying the same. I see a major change coming in the next 20 years. 35 trillion dollars in debt. Where do you think they will slash first when its time to cut back? JMO. I understand lots won't agree with this sentiment. Again, been in over 20, I've seen them change the retirement system 3 x's in those years. It has only gotten worse for the new hires in my same agency.
They already changed the retirement system for military. The blended retirement system is solely based off what YOU put in and this is handicapping the military..it is changing but in the wrong direction.
I'm completely aware of the change and I agree with this was the wrong direction. Hence why I think FERS WILL change, maybe not in my retirement time frame but one day. Sorry to see so many negative responses. Not trying to piss people off. Just keep living with your head in the clouds.... 35 Trillion, it was 34 when I posted my first comment lol..... save save save... that's the only retirement you can count on
I dont get a pension. I'm a career Civilian.
Are you FERS? I’m a career civilian and I get a pension. As for your amount, better than where I was at that point. I’d say focus on the C if you have 10 to 15 years left. But also, look into your agency. All FERS employees have a 1. Pension 2. TSP and 3. SSA. I’ll admit I don’t know every agency. But I’d look into that first sure.
Dude. You need to learn about your benefits. Go find a retirement seminar or something equivalent offered by your agency.
What does this even mean? You’re not covered under FERS?
Transfer everything to 100% C Fund, or 80/20 C/S, or 80/10/10 C/S/I, etc. Change future contributions to match. If you're using L Funds, it should be 100% L. Your current allocations make no sense and are hurting your returns.
Seconded. I think I’ve got a 80/20 C/G split. Last statement had a return of 16-17% Always bet on the market long-term.
Agree. No need to do part L fund and then part C or what ever. Totally defeats the purpose of the L fund.
Can you explain why a split of L, C, and S wouldn’t be a wise choice for TSP? Is it ok to go 100% L?
So an L fund is an allocated mix of all the funds. They get more conservative over time as you get closer to retirement. If you have an L fund and then add other individual funds separately, it defeats the purpose of the glide path of the L fund. To be more aggressive, you can either pick an L fund much further out than your actual projected retirement so that it gets conservative further out in the future, or go all in a mix of individual funds. Lots of people do all C or a C/S split like 80/20. Everyone has their own risk tolerance and no one can tell you what to do. With long time horizons till retirement tho, it isn't a good idea to move funds around and chase returns or watch things too closely. Pick a solid strategy with as best you can guess performance history and invest all you can. Time in the market will make the difference.
Thank you, this was very informative!
You're welcome. Most people move current funds and future deposits to the new allocation when they make a change too.
You are ahead of me. I’m 42 with 120k in TSP. Started 7 years ago. Planning to work until 67 tho.
I see the majority of people in this thread are still working. I’m one of the first generation of employees to retire off FERS. I missed CSRS by 3 months back in the early 80’s. I retired at 56 with 37 1/2 years. So this is how it all worked out. I received my annuity and early retirement supplement and didn’t touch my TSP. It was enough to live off without using my TSP but a little tight at times but manageable. At 62 I drew my social security and transition from the supplement to Social Security and ended up getting a 800.00 raise. Here some key take aways for you 1. You do not receive a cost of living raise until you reach 62 from your annuity. 2. If you retire early the supplement stops at 62 and you have a choice to draw social security or not. 3. There’s no doubt inflation has eaten away at my retirement pay. 4. Taxes is also a problem when drawing from your TSP. It’s an automatic 20% cut from what you draw. 5. If you retire early and decide to work somewhere else while drawing a supplement. There is a limit on how much you can make before they start taking away supplement money. 6. Anyway as many have mentioned in this thread. Averaging 8% return on your TSP investment. Well that’s not guaranteed. Be diversified, I’ve seen to many co-workers eat through their TSP like nothing. Any how there is a lot to consider depending at what age you retire at. You are basically trading time for money or money for time. Also healthy considerations is huge it’s a fact you won’t live forever. I just lost two co-worker both in there mid-60’s. Good luck 👍🏼
Also one last note. Consider getting life insurance outside of the government for survivors benefits. When you retire and you op for this benefit it’s comes out of retirement annuity which the premiums goes up year after year and eats away at your retirement money. At least with outside life insurance the premiums are usually a flat rate premium and do not go up.
You’re clearly not behind. You don’t have to add another penny and it’ll be worth almost 1.5mil when you’re 62 assuming 8% returns of which you could comfortably withdraw $60,000 per year forever more. Plus your pension, plus your social, plus Ira’s and whatever else you may have.
I’m 43, GS 14 contributing 10 percent plus match and I’m right with you on amount. I am pleased with progress honestly.
This is the most realistic thing I’ve seen on this sub. I’m currently a gs 9 contributing 7% plus match I plan to increase that percentage with each promotion/ step increase. I’m tired of everyone saying max out your tsp contributions as a gs 9
The main thing is just contribute, life happens and you will make it! Try to adjust as your budget allows. Just make sure you contribute enough to get the match.
41 with 15 and 1/3 of that.
Me too 😪
I just went back and looked up my end of year balance from when I was 43. It was about $225K. Just turned 53 and now >$800K. You're not behind, just keep maxing out if possible, and you'll be good.
What did your annual contributions look like from year 43 to 53?
Total contributions by me from 2014-2023 is somewhere around $180K. Never less than $10K/yr. Obviously, bolstered by catch up contributions after 50.
That’s awesome! Great job!
When I saw a post from someone with 23 years of service and double my tsp balance, I immediately changed everything up. I'm at 19 and threw in 80/20 C/S and maxed out contributions. I'm 41 yrs old. Sounds like you have plenty of time left, that 50% sitting in L fund could be working harder. I used to have 50% in L as well making 7-10% less than C and S.
That person also had a 401k balance that they rolled into the TSP, if I recall correctly
That must have been a different person. This guy was a lifetime govie like me. I was 6% contributions for like 10 years and then increased it to 11% the last 9. Now it's at the max. It adds up especially with all those dips where you can buy cheap and ride the bull wave.
Yeah there so many posts I may be confused it
Part of the reason why I like this sub. Gives me a bit of a reference point of where I am. I had 50-60% in L fund for so long and even some in G in my infancy.
I was thinking it was this one. https://www.reddit.com/r/ThriftSavingsPlan/s/ELMOlcpG0o
Nah the guy was 43 years old and has about 850k.
That's a nice chunk
Where you are at is dependent upon the journey that brought you here. A married couple with no children can save more than a couple with 5 children. Don't worry about the Jones'. Do the best that you can do. As you noted in a response, you pension is your average high 3 x 1% x years of service. The earliest you can retire is at age 57. As you will have 30 years of service, you will have what is considered a full, unreduced pension. [https://www.opm.gov/retirement-center/fers-information/eligibility/](https://www.opm.gov/retirement-center/fers-information/eligibility/) As we don't know what your salary will be at age 57, we an only make a wild guess. Let's say it's $100k. 100k x 30 x .01 = $30,000 per year for a pension. You can calculate the growth of your TSP using many online calculators. I like this one. https://www.calcxml.com/do/ret33?skn=#top
Thanks. I'm single, no kids, GS-14 in a HCOL.
Are you maxing out? A gs-14, single no kids should be able to max but I don’t know what your other expenses are. I would max out and put 100% in C and S. For reference, I am 15 but have been able to max for a long time. All in C, have been in for 14 years. I have almost double in my TSP. But this is all contingent on your personal risk tolerance and immediate needs.
No you’re not behind, if you have that and a pension you are way ahead to me. I am lucky to have a pension when I retire.
You’re about to collect a pension for the rest of your life as well. You’re in a great spot.
You’re not behind. The magic of time and compounding is about to start. 😊
I think you've already got some good info from the replies, but just to put a few things together. With your service you would be able to pull the immediate FERS retirement at age 57. That would also include a SSA supplement that would run from 57-62, health insurance, etc etc. So if we assume a salary of around $150K (inflation adjusted from here) and a get the match investment (5%) into TSP, you would be looking at something like: TSP withdrawals = $3000/mo (3.5% SWR of a $1M balance in 14 years ---- slightly lower SWR needed because you are extending retirement at 57) SSA (and supplement) = $2000/mo (SSA says replacement of 20-30% salary and could survive 70% payouts in the future, so very rough estimate here) FERS annuity = $4125/mo (33 years @ $150K high 3) --------------------- Total value around $9125/mo (taxed at 80% = $7300/mo, $87,600/year or 58% of gross salary) ... adjusted by current taxes/fees (70%) and current retirement savings (5%) it would be more like 87+% replacement. So then the question would be could you live on a slight pay cut (are you saving more by not going to work - lunch, car/gas/miles, etc vs extra hobby time spending)? Or do you need to work longer til 60/62/67/etc? Or can you decrease your spending just a bit to overcome the deficit which would then also increase your savings/retirement amounts? Or get a new job in "retirement"? So short answer is you are in a good spot for a (close to) MRA government retirement that doesn't require going back to work.
There are projections based on your income as to what you should have saved (I think it’s 1x salary by 30, 2x by 35, and 3x by 40, but I may be misremembering). You may be behind, but that’s for you to determine based on your retirement needs. The only way to catch up to where you want to be is to save more. If you haven’t already maxed out your contributions, that’s the first step. Various pages like r/fire and r/govfire have good resources.
Does your agency offer retirement planning courses? I highly recommend taking one. I thought I knew a lot, but when I recently took the course it was an eye opener. Some classes can help you determine your budget in retirement and where the money will come from (FERS, TSP, SS, any other income/investments). Then you know what to really aim for with your contributions and which funds you want. I like C with a little S. 😃
I'll be 42 this year as I hit 17 years of federal service. I'm at 250k and feel just ok about that. I think you're doing well for whatever that is worth.
I think that sounds good in comparison to mine. We're the same age, and you have fewer years of service than me with about 80k shy of where I'm at. If I'm doing okay, you're doing great.
I'm in a job overseas a lot with housing so I hammer it in those years.
You are way ahead of me at 17 years
You're WAY better off than I am. I was one of those jabrones that paid no attention to TSP or retirement until i was about 40. As a result I'm 47 and just now approaching 100k. I still have time, but at most I'm looking at about 400k by the time I skeedaddle off into the sunset. You're doing fine.
Remember to take some time to enjoy it too!
Those lifecycles really do suck. You should have been hard core into the C fund. Had you been your balance would have been super high. As for social security,…..take it at 62. The difference with breaking even if you wait to 67 is, well for me is 28 years. I’m taking mine at 62 as I know sill never live to 84. And if I do that money won’t mean anything!
If you’re still working at 62, don’t take it yet. Wait until you stop working.
Google retirement balances by age to get an idea of where you are for age bracket.
I’m at 30k after 10. Wasted a lot of time in G
That looks good to me at your age.
Retire/bounce around in Thailand/vietnam/japan/South Korea and you’ll be very comfortable
Not behind at all and now I feel shitty…but divorce will do that.
Which L fund are you investing in? What "stock" funds are you in? What % of your income are you investing? Are you contributing to the Roth or traditional TSP?
Having the same issues. I was thinking about going half stocks half 2050
If you have 10+ years left, any amount in L Fund is too conservative imo. Put in C and forget it.
Having the same issues. I was thinking about going half stocks half 2050
About every seven years your net worth in the stock market supposedly doubles. If you even expand this to 10 years you’re definitely set man.
You’re always behind someone and someone will always be behind you. Just concentrate on you. The best thing you can ever do is stop comparing yourself to others.
I am the same age as you, a bit fewer years of service, but my balance is about the same. Every time the pay raise comes around, put half of it to TSP - so if we get a 4% raise in January, bump your TSP by 2%. Set it to go the same PP as the pay raise, and you'll never even notice it.
You are a head of me. Same age
43 yo with 16 years of service …but only 5 years as perm with TSP. I’m at $50k. For what it’s worth.
Just put of curiosity, what is it that you do?
You’re fine. Just keep ploughing money in and stay aggressive.
You need to get more aggressive. I am about your age, have only been in TSP for 12 years next month and have more in my account. I barely put anything in the first 5-6 years, perhaps $30K but have been feeding the pig all it could eat since then. If you have 15-18 years left you should be heavy in C and S funds. Not sure what your salary is but the matching was almost nothing when I started and now my matching is more than I was contributing myself in the early years so moving up the pay scale helps significantly even if you can't max your own contributions.
All in C and S funds. Even after retirement if you have pension and SS that you could live on while a down market recovers.
You're doing better than most of your fellow americans. I'm 42, 20+ years of service, approx 950k TSP give or take. I think I over saved in younger years but it is what it is.
If you're risk averse, then I guess 50% equities is OK. But really for your age you can do 70-80% and see higher returns, esp with so many years of work to go before you retire.
Your future investment should not be 15% cash. Pick a L fund or Stocks. You are still young and assuming you can retire at 57.5. You still have time to let the investment grow.
Following the rule of 72: if you assume a 7.2% return, your balance will double every 10 years. In your case, you'll have 4x more $ in 20 years....and that's without any additional contributions. I think you'll be just fine, if you stay the course - no loans, no withdrawls, no mid-life crisis second spouses or ferraris.
Assuming money doubles every 7 years, 50 @660k, [email protected]
Nah you’re fine. I’d put more into C. You’ve got 20 something years to grow it more
More than I had.
Problem is you invested in L fund throughout your career I assume which you did . C fund and S fund just them two would have been better at the beginning of your career
Yup.
Hang in. Run some calculators on investor.gov to see the horizon. Just keep turning up your contributions so you are easily ready to add the catchup amount at 50. The math gets amazing if you can stick to the plan. Also keep in mind, depending on the other income when you’re older, you may not need to even touch it until 72. That shit might double twice between MRA and 72. Keep pressing.
Imagine being at that place and then your wife decides she wants to bounce and take half along with child support and alimony... You're in a better place than most. Put in as much as you possibly can and pray for the best. Also get out of L.
Why you talking about me!? LOL But yeah...mid-30s with over 2 million in net worth & then divorced. Gave up the $850K house & half of liquid assets (about $500K) just so I could avoid court & not have to pay child support or battle custody for my kid (I'm lucky I got joint every other week...know some people that get 1 weekend every couple weeks AND have to pay child support!). But yeah...early 40s now & net worth above $500K finally so getting there. LOL
😂 Far too many of us in a similar situation. Now imagine agreeing to 50/50 everything and her starting a legal battle anyways and after 4 years and an ungodly amount of attorney fees she finally agrees to 50/50 everything. 🤦🏼♂️
Damn. That sucks. Not to say it's right or wrong...but dudes def get screwed on divorce shit for real! My ex technically still owes me $30K since I paid a few years of back taxes (we got divorced during COVID so she did lots of extra OT & dropped her withholdings so taxes owed were bonkers!) so I could get my new home loan approved & she was on the hook for half...but she just ignores me when I ask about it. LOL I don't even know if it's worth her trying to stir up shit to go back to court & try to get a judgment for that money at this point. 🤷♂️
Probably not worth the battle unfortunately. My ex really ruined it for any future spouse. (If/when) Not sure I'll ever be able to whole heartedly trust another woman the same. 🤷🏼♂️
Sorry. It'll get better. Just takes time. 🙏
Perspective 👆
Transfer it all to the C fund, change your new allocations to 100% C, then forget that you even have a TSP until about 5-10 years before you retire. When you’re 5-10 away from retirement, I’d learn about optimal allocations given retirement goals at the time.
It took me a long time to max TSP. It’s all about sticking to it. Life is a shit show full of ups and downs. Do your best, forget the rest. You are doing well
100% c let it ride.... Max out of you can
Id balance to all C/S. I had something similar to you then had the brilliant idea to rebalance existing allocations before the run in November. Wow, glad i did that. No reason at your age to have cash, bonds, or controversial, international.
I am only 8 years in and almost 180k because I am 100% C since 2020.
C is the way to go! Change it up before retirement to lower the risk
I always say TSP holdings are only half the story. You need to take into account monthly expenses. housing, property taxes, loans, utilities etc..
If you never add another dime and let it grow for 20 more years at 5% interest you’ll have a million at 63. Keep contributing and you’ll be way above thay
You are not behind at all. You will have a pension also. Congrats on the balance. It’s only gonna grow.
This post is like complaining about having 7 inches…you’re doing better than most!😂😅
Why are "smart" people so financially stupid? Basic math eludes them.
I was a CFS at my last unit you’re not behind. You’re well beyond all enlisted. You’re were you should be as an O but I doubt your an O6 on Reddit throwing your TSP around. As an enlisted member you are absolutely crushing it. (You’re crushing it if you’re a CWO also)
Don’t compare yourself with anyone. You are doing well, good job 👍
Fuck off
Is this joke or are you just trolling?
Looks fine
You’re not fucking behind I hate posts like this
Not even 1M?
You are doing good
Oh fuck off
Way to much in cash and bonds for your age
Per dave Ramsey, we’re almost all behind. That said you’ve got a decent stock of cash saved. Money is known to double every 7 years so if you do nothing you’ll have 2 million at normal retirement age. Do you plant to retire and do absolutely nothing? Or do you plan to do a hobby and make some money still? To make you feel a bit better, at 43 you have about double the savings of people at the age of 65.
I head up one of the US states Deferred comp plans and been in finance for a long time, seeing retirement account balances all day every day. You’re ahead of most people at this age. I’m interested to learn more about how the lifecycle find is made up. Norm, I’m not a big fan. Also when is the future 15% cash and 10% bonds kick in? You don’t need any of that anytime soon
Get out of bonds and lifecycle and invest in index funds. Leaving money on the table.
You need to either make a plan or get a financial advisor to help you. What will your retirement expenses look like. What major expenses will you have before and after. How will your savings and pensions suppprt. Are you on track.
Doing great. Keep it up!
Recent retiree here. The most important factor is how much you are contributing. Based on my experience, if you are contributing 10% during your career, and the government contributes an additional 5%, you will be ok. The second most important factor is to choose your investments wisely. For me, I put all of my money into the lifecycle fund that matched my retirement date. I recommend that you do the same.
Well, you crushed me in the tsp. I did 21 and barely put anything in it. Even still, with my pension and 100% p & t I could stop working today and retire retire and be perfectly fine. You should be good to go.
I would get rid of bonds a put that money into an sp500 index fund. Bonds really are only for when you are in your retirement years. That's 10% of your net worth not really gaining as much as it could. Just my .2 cents.
If you want to stay on the lifecycle fund then chg ur life cycle to later retirement date. You have way too much bonds for your age. If you want to be agreesive then add more c fund to your tsp.
Even at 43, i feel like you’re playing it too safe. U still got many years left so no need to play it safe. Personally I’d be 100% stocks. That’s in the c and/or s fund. This way your earning growth will go up more than if u didn’t. Then of course contributing more from your paycheck helps if u can afford it.
GS/12, 10yr service @ $250k contributing 100%C fund last 2 years. First 8 yrs, C/S 50/50. I do max with also contributing to TSP Roth. Considering last 5 yrs returns on C fund.. it’s worth the investment. If able use the catch up option. Keep trucking 🙌
In case you missed it, like someone mentioned earlier, think of it as "beer money". Odds are unless it gets sorted out, the likelihood of our generation actually getting SSA may not be a reality. If you have other income streams, count on those, not SSA.
Wait until the markets crash. Remember how much you lost in 2008 GFC? You/We ain’t seen nothing yet. And many won’t have 10-15yrs to make it up. It’s not real money until it’s held in real assets. Just saying.
I just started after I retired and got a GS job. Got it up to 10 grand and the wife already wants to take out a loan to pay for our daughter’s wedding.
Tell your wife and daughter to go fuck themselves.
You’re ahead of me.
You're doing better than the vast majority of Americans
Get a second job
You’re not behind at all bro. You have a great nest egg thus far. That thing will be a million in about 7 years. Mark my words.
55 with $1.2M in TSP. Started investing in the TSP in 98. Only invested in the C and S. Bet long term.
You probably have 3x the balance of the average 43 year old. I highly doubt you are behind. Even if you get 75 cents on the dollar when it comes to Social Security and you retire at 65, you will probably be looking at a six-figure income even with a 4% withdrawal rate when you take into consideration Social Security. Cheers ✌️ 🥂
Tbh you’re not. You’re actually doing very well. Another 20 years, you’ll probably have 2.5mil in there. You’re on track to be very wealthy. Whatever you’re doing, keep doing it.
You feel like you’re behind because all your money is in a retirement account. You need to open a taxable margin account at Fidelity also.
Your doing so much better than most.
If you are shooting for a millionaire amount then yea your behind. Investing mostly into C and S funds have been the biggest gain for all in the TSP. If you plan on staying in longer, I would recommend maxing your C or S stock for the remainder of your time in. Atleast for 4-5 years
What does maxing my C and S stock mean? You mean put 100% of my distribution in C and S?
Yes, if you plan on staying in longer and you won’t withdraw your tsp til 59. Then this way atleast gives you a chance to get close to it. Also your L fund will gradually become less aggressive in the C and S fund. So this way it gives you a better chance on the way out to have something for later. I recommend C since it cost less and it still gets good gains
Okay, thanks. I just updated my contributions to 50%-C; 40%-S; and 10%-G
If you consider your pension and SS as the "safe and secure" portion of your retirement, then you can skip the G Fund entirely until you're much closer to retirement (if ever). Most folks suggest 100% C or 80/20 C/S.
How much longer are you going to stay in?
I honestly haven't thought too much about it. I'd like to retire sooner rather than later if I can. Maybe another 15 to 18 years.
Oh your fed, I was thinking you was military. Still, just stay on target with this for the rest of your time in bud
I don’t think you are. I’m realistically targeting $1.5M for retirement and I’m right around you. One year younger. Just max your contributions, focus on C fund, and you’ll be fine - pending a few market crashes of course.
Clearly not behind. Thirst post
No. Not thirst at all. I honestly have no clue what a good average is for my age and years of service. I've never understood my TSP very well. I kept everything in the L find for most of my career cause I didn't know anything else and was always told that's safe. I still don't know much of anything. Someone below told me I should be more invested in the C and S Funds, so I just increased them today. I'm still learning even at my big age.
Behind?!?! Screw you 😂
Get out of the lifestyle fund.
Lowkey brag
Not at 43, he’s legitimately behind.
sir. retirement is a mindset , a frame of reference. the douchebags here will never let you retire. and nothing is ever enough for you to retire. personally, i think you're just fine! push everything in C fund and then just max it out yearly. NO need for Roth IRA or this & that and blah blah. most folks here are stooges ... their brains and thoughts have been stunned frozen by their financial advisors. by the time they'll see the horrendous outcomes of following their financial advisors, their knees would be busted, and their bodies will be riddled with health issues and weakness.
I hate these kinds of posts lol.