In this episode of theSITREP, Paul covers how to change which fund or funds your contributions go into with Thrift Savings Plan. Paul is joined by U.S. Air Force Veteran, Mike Jerue, who serves as the Deputy Chief Investment Officer at Thrift Savings Plan.
Listen to the complete Thrift Savings Plan Podcast here:
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ADDITIONAL THRIFT SAVINGS PLAN VIDEOS
What is Thrift Savings Plan
Pension vs. Thrift Savings Plan
Contributions with Thrift Savings Plan
Thrift Savings Plan After Government Service
How to Set-Up Your Thrift Savings Plan
IRA & Thrift Savings Plan Contributions
Thrift Savings Plan Beneficiaries
Thrift Savings Plan Contributions After Service
Roth vs. Traditional Thrift Savings Plan
IRA vs. Thrift Savings Plan
403b vs. Thrift Savings Plan
Thrift Savings Plan Rollovers
Are TSP Contributions Tax Deductible
401k, 457 & 403b vs. Thrift Savings Plan
TSP Maximum Contributions
Individual Funds (G, F, C, S, I Fund) & TSP
TSP L Funds
TSP Retirement Calculators
Roth vs. Traditional Withdrawals
How to Change TSP Contribution Amounts
Thrift Savings Plan Loans & Withdrawals
Age to Withdraw TSP
Thrift Savings Plan Vesting Period
(RMDs) Required Minimum Distribution & TSP
TSP After DoD Service
TSP Company Holdings
Thrift Savings Plan DoD Rollover
How to Access Thrift Savings Plan
Retroactive Contributions to TSP
Catch-Up Contributions with TSP
Changing Contributions with TSP
Thrift Savings Plan Mutual Funds
THRIFT SAVINGS PLAN TOPIC LINKS
For TSP overview, visit:
For TSP contributions, visit:
For TSP L Funds, visit:
For TSP investment funds, visit:
For TSP rollovers, visit:
For TSP holdings of companies, visit:
For TSP mutual fund window, visit:
For TSP annuity, visit:
For TSP required minimum distribution (RMD), visit:
For TSP loans, visit:
For TSP hardship withdrawals, visit:
For TSP death benefits, visit:
#theSITREP #TSP #AnnieVA...(read more)
LEARN MORE ABOUT: Thrift Savings Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing
The Thrift Savings Plan (TSP) is a retirement savings plan for federal employees and members of the military. As an employee, it is essential to regularly review and adjust your TSP fund contributions to ensure that you are maximizing your savings and taking advantage of potential investment opportunities. In this article, we will discuss the steps to change your TSP fund contributions effectively. Before we dive into the steps, it's crucial to understand the TSP funds available to you. The TSP offers five core funds: the G Fund (Government Securities Investment Fund), F Fund (Fixed Income Index Investment Fund), C Fund (Common Stock Index Investment Fund), S Fund (Small Cap Stock Index Investment Fund), and I Fund (International Stock Index Investment Fund). Each fund comes with its level of risk and potential for growth. To change your TSP fund contributions, follow these simple steps: 1. Access your TSP account: Visit the Thrift Savings Plan website and log in to your account using your username and password. If you don't have an account yet, you will need to register by providing your personal information and TSP account number. 2. Navigate to the "Contribution Allocations" section: Once logged in, locate the "Contribution Allocations" tab. This is where you can modify your fund allocations and contribution amounts. 3. Allocate your contributions: In the "Contribution Allocations" section, you will find the option to select the percentage or dollar amount you wish to contribute to each fund. Decide how much you want to allocate to the G Fund, F Fund, C Fund, S Fund, and I Fund based on your investment strategy and risk tolerance. Consider diversifying your contributions across multiple funds to reduce risk and potentially increase returns. 4. Make changes and save: Enter the desired contribution percentages or dollar amounts for each fund, and double-check your allocations before proceeding. Once you are satisfied, click on the "Save" or "Submit" button to apply the changes to your TSP fund contributions. 5. Review and adjust regularly: It's important to review and adjust your TSP fund contributions periodically as your financial goals and market conditions change. Many financial experts recommend reviewing your allocations at least once a year, or whenever significant life events occur, such as promotions, marriage, or the birth of a child. 6. Take advantage of catch-up contributions: If you are over the age of 50, you are eligible to make catch-up contributions to your TSP account. These additional contributions can help boost your retirement savings. To make catch-up contributions, select the appropriate option within the "Contribution Allocations" section of your TSP account. Remember, changing your TSP fund contributions does not involve market timing or predicting future market trends. It is essential to focus on a long-term strategy and avoid making impulsive decisions based on short-term market fluctuations. Consult with a financial advisor or do thorough research before making any significant changes to your TSP fund allocations. In conclusion, regularly adjusting your TSP fund contributions allows you to optimize your retirement savings and potentially increase your investment returns. By following the steps outlined above, you can easily modify your allocations and take advantage of the various TSP funds available to you. Remember to review and adjust your contribution amounts periodically to ensure that your retirement savings align with your changing financial goals. https://inflationprotection.org/guide-to-modifying-tsp-fund-contributions-thrift-savings-plan-thesitrep/?feed_id=145643&_unique_id=652a3d0c6e43e #Inflation #Retirement #GoldIRA #Wealth #Investing #ThriftSavingsPlan
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