3 Ways to Maximize Your TSP in 3 Minutes, where we will discuss: - How Can Colas or Step Increases Increase TSP? - Max Fund Amounts Ever Increasing! - Careful Being Too Conservative Find us on Facebook! Our Site: CD Financial is a registered investment adviser. Lic #0G46793 Investing involves risk, including the potential loss of principal. Any references to protection benefits generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Our firm is not affiliated with the U.S. government or any governmental agency....(read more)
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The Thrift Savings Plan (TSP) is a retirement savings plan for civilian employees of the United States government and members of the military. It is a great way to save for retirement, offering low fees and various investment options. But how can you maximize your TSP in just 3 minutes? Here are three quick tips: 1. Contribute as much as you can afford: The more you contribute to your TSP, the more you will have in retirement. If you can afford to, aim to max out your TSP contributions each year ($19,500 in 2021, or $26,000 if you are 50 or older). If you can't afford to max out, at least consider contributing enough to take advantage of any employer matching contributions. 2. Choose the right investment mix: Your TSP offers several investment options, including various stock and bond funds. The key is to choose a mix of investments that matches your risk tolerance and time horizon. Younger investors with a longer time horizon may want to consider a more aggressive mix of stocks, while older investors may want to shift more toward bonds. You can use the TSP's online tools to help you pick the right mix for you. 3. Consider a Roth option: The TSP also offers a Roth option, where you contribute after-tax dollars but can withdraw tax-free in retirement. If you expect to be in a higher tax bracket in retirement or want to diversify your tax treatment, consider the Roth option. You can even split your contributions between traditional and Roth if you are unsure. In just three minutes, you can take these steps to maximize your TSP and set yourself up for a more comfortable retirement. Don't let the simplicity fool you – the TSP is a powerful tool for retirement savings, and every little bit can help. Start investing in your future today! https://inflationprotection.org/3-simple-techniques-to-optimize-your-tsp-in-just-3-minutes-dzamatalk-episode-18/?feed_id=92156&_unique_id=644b4ffe8f127 #Inflation #Retirement #GoldIRA #Wealth #Investing #CharlesDzama #DzamaTalk #FederalBenefit #federalemployee #federalemployeeretirement #federalemployeeretirementsystem #federalgovernment #federalgovernmentretirement #federalpension #federalretirement #financialadvisor #financialplan #financialstrategy #governmentretirement #maxtsp #Retirement #retirementplan #retirementstrategy #retiringfromfederalgovernment #thriftsavingplan #thriftsavingsplan #tsp #unitedstatesfederalemployee #ThriftSavingsPlan #CharlesDzama #DzamaTalk #FederalBenefit #federalemployee #federalemployeeretirement #federalemployeeretirementsystem #federalgovernment #federalgovernmentretirement #federalpension #federalretirement #financialadvisor #financialplan #financialstrategy #governmentretirement #maxtsp #Retirement #retirementplan #retirementstrategy #retiringfromfederalgovernment #thriftsavingplan #thriftsavingsplan #tsp #unitedstatesfederalemployee
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