TSP Overview: A Guide for Early to Mid-Career Professionals

Presented by TSP Agency Liaison Specialist Arvella Collins, Federal Retirement Thrift Investment Board. -- U.S. Department of Health and Human Services (HHS) We accept comments in the spirit of our comment policy: HHS Privacy Policy ...(read more)

LEARN MORE ABOUT: Thrift Savings Plans
REVEALED: Best Investment During Inflation
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As a young professional, it's never too early to start planning for your retirement. One tool that is available to federal employees and members of the military is the Thrift Savings Plan (TSP). The TSP is a defined contribution plan, similar to a 401(k), that allows participants to save for their retirement through pre-tax or after-tax contributions, which can be invested in various funds. If you are a federal employee or member of the military, you are automatically enrolled in the TSP with a 3% contribution from your paycheck. However, it is important to consider increasing your contributions, especially if you are early to mid-career, as increasing the amount you save can provide significant benefits in the long run. One aspect to consider when deciding how much to contribute is the TSP's matching contributions. Currently, the TSP matches up to 5% of your contributions dollar for dollar, meaning that if you contribute 5%, the TSP will contribute an additional 5%. Taking advantage of this matching contribution is a great way to boost your retirement savings. Another important factor to consider when investing in the TSP is the funds available. There are five main funds to choose from, ranging from the safest (G Fund) to the riskiest (C Fund). It is recommended to diversify your investments among the funds to spread out risk and balance potential returns. It is also important to review your TSP account regularly and make changes as necessary. As you progress in your career and your retirement goals change, you may want to adjust how much you contribute or how you invest. It is also important to review your TSP account to ensure you are not paying higher fees than necessary. Overall, the TSP can be a valuable tool for building your retirement savings. However, it is important to understand how the plan works and make smart decisions when it comes to contributing and investing. By taking advantage of matching contributions, diversifying your investments, and reviewing your account regularly, you can set yourself up for a comfortable retirement. https://inflationprotection.org/tsp-overview-a-guide-for-early-to-mid-career-professionals/?feed_id=96398&_unique_id=645c7995bf450 #Inflation #Retirement #GoldIRA #Wealth #Investing #federalbenefits #federalretirement #HHS #HHS.gov #HHSgov #MidCareerRetirementCounseling #ThriftSavingsPlanBriefing #tsp #USGovHHS #ThriftSavingsPlan #federalbenefits #federalretirement #HHS #HHS.gov #HHSgov #MidCareerRetirementCounseling #ThriftSavingsPlanBriefing #tsp #USGovHHS

"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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