The management of your Thrift Savings Plan is not something you should take lightly. Mistakes could cost you hundreds of thousands of dollars if you don’t know what you are doing. In this episode we: • Discuss what is required to manage any investment account • Evaluate your options if you are looking for help • Provide resources to help you get more knowledgeable with investing and your TSP Welcome to Financial Planning 4 Feds. We are dedicated to educating federal employees on how to maximize value from their government benefits by developing and executing a financial plan. 0:00 Intro 0:40 Why Is This Important? 2:39 3 Requirements to Manage any Investment Account 5:44 Where Can You Get Help? 11:41 Build Your Investment and TSP Knowledge Referenced Links Vanguard Report on “Quantifying Advisor’s Alpha”: Envestnet Report on “Capital Sigma: The Advisor Advantage”: Russell Investments report on “How advisors deliver value in challenging times”: LIST OF BOOKS Simple Wealth, Inevitable Wealth by Nick Murray The Intelligent Investor by Benjamin Graham A Random Walk Down Wall Street by Burton G. Malkiel One Up on Wall Street by Peter Lynch Rich Dad Poor Dad by Robert Kiyosaki Federal employees and their spouses are invited to complimentary educational workshops covering their federal benefits. For details, visit: Federal Benefit Resources: Would you like to know more? ...(read more)
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When it comes to your thrift savings plan (TSP), it's easy to feel like you're on your own. After all, the TSP is designed to allow federal employees and members of the uniformed services to save for retirement on their own terms. However, there are times when it's important to seek professional help to maximize the benefits of your TSP. One of the most important times to get help with your TSP is when you're just starting out. For many people, investing in retirement can be intimidating, especially if they've never done it before. A financial advisor can help you understand the ins and outs of the TSP, and help you create a strategy that aligns with your retirement goals. Another important time to get help with your TSP is when you're considering a change in investments. The TSP offers a variety of investment options, and it can be difficult to know which ones are right for you. A financial advisor can help you assess the risks and rewards of different investment options, and help you create a diversified portfolio that will help you meet your retirement goals. You may also want to seek professional help if you're unsure about the tax implications of your TSP. The TSP is tax-deferred, which means that you won't pay taxes on your contributions until you withdraw them in retirement. However, there are some exceptions to this rule, and it's important to understand how your TSP will affect your taxes in the long run. A tax advisor can help you understand the tax implications of your TSP, and help you make informed decisions about your retirement savings. Finally, if you're approaching retirement age, it's important to seek professional help to ensure that you're making the most of your TSP. A financial advisor can help you create a withdrawal strategy that will provide you with a steady income stream throughout your retirement, while also minimizing your tax burden. In conclusion, while the TSP is designed to allow federal employees and members of the uniformed services to save for retirement on their own terms, there are times when it's important to seek professional help. Whether you're just starting out, considering a change in investments, unsure about the tax implications of your TSP, or approaching retirement age, a financial advisor or tax advisor can help you maximize the benefits of your TSP and ensure a comfortable retirement. https://inflationprotection.org/optimal-times-for-seeking-assistance-with-your-thrift-savings-plan-tsp/?feed_id=83035&_unique_id=64265774d9634 #Inflation #Retirement #GoldIRA #Wealth #Investing #Boston #CertifiedFinancialPlanner #CFP #federalemployees #feeonly #Fiduciary #FinancialPlanning #theThriftSavingsPlanforBeginners #thriftsavingsplan #thriftsavingsplanexplained #thriftsavingsplanforbeginners #thriftsavingsplanfordummies #thriftsavingsplanhelp #thriftsavingsplaninvestment #tsp #tsphelp #tspinvesting #tspstrategy #tsptips #ValorWealthPartners #washingtonDC #ThriftSavingsPlan #Boston #CertifiedFinancialPlanner #CFP #federalemployees #feeonly #Fiduciary #FinancialPlanning #theThriftSavingsPlanforBeginners #thriftsavingsplan #thriftsavingsplanexplained #thriftsavingsplanforbeginners #thriftsavingsplanfordummies #thriftsavingsplanhelp #thriftsavingsplaninvestment #tsp #tsphelp #tspinvesting #tspstrategy #tsptips #ValorWealthPartners #washingtonDC
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