Posted on Apr 27, 2018
IRA vs. TSP: Which one is more beneficial towards retirement, especially if you are in the Reserves/National Guard?
26.2K
31
16
3
3
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ETS/EAS
Retirement
NGB
Reserves
Posted 8 y ago
Responses: 11
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TSP, TSP, TSP!!! Put every dime you legally can in the TSP C fund, never ever touch it, never ever change it. Leave it alone a let it grow. When you retire you will be a Millionaire. Seen it happen time and time again as a civil service guy after AD military retirement (Double Dipper) (now a Triple Dipper).
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CW5 Ranger Dave
Here’s where I’m coming from...FG-1825-14 step 10 or GS-14 high as you can go in grade. Did not become a 15 due to pain in the BUTT baby sitting. Made more money in per diem traveling...eg. Brazil $165 per day M&IE.
1. TSP...Great stuff! Put your money there and forget about it until you retire!
2. Matching funds=FREE MONEY!!!
3. You CANNOT TIME THE MARKET! Go C Fund and forget it.
4. Put every red cent you can into it. Never borrow from it for anything. Regardless what the wife says! eg home, college, etc...
5. If over 50 years old go for additional catch up (used to be $5000 per year).
6. I was putting in 25% until I retired from FERS.
7. Rolled over to traditional IRA (no fees or taxes) on FERS retirement.
8. If your young this is a NO BRAINER,
9. Remember, if a Chief Warrant Officer has it! get some of it, because it must be GREAT!
1. TSP...Great stuff! Put your money there and forget about it until you retire!
2. Matching funds=FREE MONEY!!!
3. You CANNOT TIME THE MARKET! Go C Fund and forget it.
4. Put every red cent you can into it. Never borrow from it for anything. Regardless what the wife says! eg home, college, etc...
5. If over 50 years old go for additional catch up (used to be $5000 per year).
6. I was putting in 25% until I retired from FERS.
7. Rolled over to traditional IRA (no fees or taxes) on FERS retirement.
8. If your young this is a NO BRAINER,
9. Remember, if a Chief Warrant Officer has it! get some of it, because it must be GREAT!
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SPC (Join to see)
Never borrow from it for anything. Regardless what the wife says!
Hahahaha. That`s very true.
Hahahaha. That`s very true.
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CW5 Ranger Dave
MAJ (Join to see) - I was able to transfer between F, G, C, and I funds via the internet. Instruction should have been presented or updated via the TSP newsletter. The C Fund is essentially the SPY index fund.
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Have TSP taken from your Guard check, makes it easy. When you can start an IRA.
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Good comments here for the most part. For those that opted in to BRS, make sure you contribute enough to get the maximum match before opening an IRA. Beyond fairly obvious advice like that, general rules of thumb might not be the right answer for you. Be VERY skeptical of specific investment advice from people who don't know you.
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