"Revealing the Top Three Errors Committed in the Thrift Savings Plan"

In this video I go over the top three mistakes people are making in their government retirement accounts and how to avoid them....(read more)

LEARN MORE ABOUT: Thrift Savings Plans
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The Thrift Savings Plan (TSP) is a retirement savings plan for Federal employees and members of the military. It is a valuable tool for retirement planning, but like any investment vehicle, mistakes can be made. Here are the top three mistakes made in the TSP: 1. Not Contributing Enough One of the biggest mistakes in the TSP is not contributing enough to the plan. The TSP offers several types of contributions, including traditional pre-tax, Roth after-tax, and catch-up contributions for those over 50. It is crucial to maximize these contributions to take full advantage of the plan's benefits. Many employees contribute only the minimum required to receive employer matches, missing out on potential tax savings and compounded growth over time. 2. Not Diversifying Investments Another common mistake is not diversifying investments in the TSP. The TSP offers five individual funds, including a government securities fund, bond fund, stock fund, international fund, and lifecycle funds. It is essential to diversify across different asset classes to minimize risk and maximize potential returns. Focusing on one or two funds leaves the portfolio vulnerable to market fluctuations and may limit future growth. 3. Ignoring Fees The TSP charges fees, including annual maintenance fees and expense ratios for each fund. While the fees are relatively low compared to other retirement plans, they can still add up over time. Ignoring fees can lead to lower returns, reduced growth, and a smaller nest egg in retirement. It is crucial to regularly review account statements and understand the fees charged to ensure the plan remains cost-effective. In conclusion, the TSP is an excellent retirement plan that provides generous benefits to Federal employees and members of the military. However, it is essential to avoid these common mistakes to make the most of the plan's potential. By maximizing contributions, diversifying investments, and monitoring fees, employees can build a robust retirement portfolio for their golden years. https://inflationprotection.org/revealing-the-top-three-errors-committed-in-the-thrift-savings-plan/?feed_id=87417&_unique_id=64382b32b801d #Inflation #Retirement #GoldIRA #Wealth #Investing #militaryretirement #retirementaccount #thriftsavingsplan #tsp #tspaccount #ThriftSavingsPlan #militaryretirement #retirementaccount #thriftsavingsplan #tsp #tspaccount

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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