Tsp millionaire advice But there are two key points to remember: Oct 19, 2024 路 In recent years, the number of TSP millionaires has been steadily rising, with nearly 117,000 federal employees now holding seven-figure balances in their Thrift Savings Plan accounts. com) Why is it Important to become a TSP Millionaire? (fedweek. Feb 17, 2021 路 In his article published February 28, 2020 in FEDweek (Becoming a TSP Millionaire: Don’t Try to Time the Market) Dallen Haws noted that “becoming a TSP millionaire is simple” and that at the Jul 8, 2024 路 If you aren’t primarily in the C, S, and I funds then your TSP contributions will be lucky to keep up with inflation over time. The TSP is meant for retirement. They make up about two percent of approximately 6. Becoming a TSP Mar 4, 2023 路 A family recently came to see us with a retirement plan that was failing. It requires consistent contributions, staying the course during market fluctuations, understanding the impact of fees, and maintaining a diversified portfolio. If you aren’t putting at least 5% of your income into your TSP, to maximize the matching contributions from your agency, you’re turning down free money. 5 million federal employees and only about 2% percent of them are Thrift Savings Plan millionaires. It’s not all 馃毃$1,500 of FREE BONUSES + NEW EDITION OF OUR GSJ IS OUT! Based on 5+: Years of Real World Research and 1,000+ Interviews: https://bit. May 22, 2025 路 As a retired fed, he understands the fluctuations of the market & gives his advice from his “thrice-TSP-millionaire” viewpoint! His investigative nature in questioning one’s personal situation was welcomed as was the applicable spreadsheet for the future. Apr 10, 2025 路 Number of TSP Millionaires Hits Another Record High in 2024. com/how-to-invest-your-tsp-thrift-savings-plan-the-ultimate-guide/How to Invest the TSP in Retirementhttps:/ Feb 12, 2021 路 First, realize that becoming a millionaire with the TSP takes time. At least, that’s what federal retiree and financial advisor Abe Grungold says. He joined to discuss more. Now some 117 thousand federal employees and retirees have Thrift Savings Plan accounts worth more than a million dollars. TSP Millionaire is a service that provides Thrift Savings Plan advice for current and former federal employ 6 days ago 路 Key Takeaways The Thrift Savings Plan (TSP) now offers greater flexibility with withdrawal options, but the new choices require careful planning to avoid costly mistakes. com) Three good reasons to save toward TSP-millionaire status (federalnewsnetwork. TSP Millionaires Account Balances and Average Years of Contributions. May 15, 2025 路 There are nearly 147,000 people who have TSP balances greater than one million dollars. *FREE* shipping on qualifying offers. Ironically, the money being in my tsp account bothered me so much I took out a tsp loan in the amount I had, invested it myself then paid back the principle. And then turned towards the end of August, it came back to near all time high numbers again. I understand that life happens, but I believe that you too can be a TSP Millionaire with commitment and discipline. Feb 20, 2025 路 My Account. Here’s what he says:. specific advice on which funds to invest in and how much to contribute Five ways to really louse up your Thrift Savings Plan account (federalnewsnetwork. Have you logged into your TSP account la Jun 15, 2021 路 For you to invest wisely in the TSP, you must understand the mechanics of how the TSP works, the rules, the forms, and the definitions of each investment fund. Dec 14, 2023 路 The number of Thrift Savings Plan account holders with more than a million dollars saved notched up this past year. Your investments will grow, but it will take time for your investments to reach $1 million. Is it possible to grow your TSP to seven figures? Did you know there are over 113,000 TSP investors in the TSP millionaire club? One of the accounts is worth Apr 2, 2024 路 The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. Sep 21, 2017 路 I work for more than a few of those “TSP millionaires,” and I can tell you that the only things they have in common are: They have at least $1 million in their accounts. Invest for the long term and forget about it. Forgot your account number or user ID? My Account, Plan Participation, Investment Funds, Planning and Tools, Life Events and Get federal retirement planning resources for FERS, CSRS, Thrift Savings Plan (TSP) and more. I am an active federal employee and a longstanding TSP millionaire. Would you like to be one of them? We get some practical advice from federal retiree Abe Grungold of AG Financial Services. 9 million active TSP Jan 15, 2025 路 The stock market rally in 2023 led to a record setting increase in the number of TSP millionaires. Katelyn also outlines key considerations for FERS, TSP, FEHB, HSAs, and Roth IRAs. 2024 TSP Performance: 25% Annual Return for One TSP Fund. Download it once and read it on your Kindle device, PC, phones or tablets. User ID. Reaching a seven-figure TSP balance may seem like a dream, but the number of TSP millionaires has grown considerably over the past decade, illustrating the power of consistent contributions and time in the market. They contributed substantial amounts of that $1 million to their accounts (sometimes by transferring balances from private sector employer-sponsored plans). Dec 30, 2024 路 Snag a FREE copy of my book, and get connected to the Military Millionaire community on all of your favorite platforms: https://www. com) Five Common Mistakes TSP Participants Should Avoid (fedweek. There are approximately 4. People who stay in for upwards of 30 yrs most definitely are TSP millionaires if they follow the steps. Whether aiming for a minimalist retirement or a seven-figure nest egg, the key lies in balancing debt, timing, and investment choices. A year ago, only 65,500 did. There are certain principles that TSP millionaires know and follow to get to where they are while others wonder how they do it. Sep 4, 2024 路 Lately, the TSP reached an all time high July 15, and then in the first week of August, it took a drop of 8%. report 12/16/2023 10:17 tspmillionaire. One way to work towards becoming a millionaire is by saving and investing through the Thrift Savings Plan (TSP), a retirement savings and investment plan offered to federal employees. Not affiliated with The United States Office of Personnel Management or any government agency Jun 17, 2024 路 Another measuring stick of retirement account millionaires is the federal government’s 401(k)-like Thrift Savings Plan. Let's talk about the top 5 TSP investing strategies and advice from financial legends Dave Ramsey and Warren Buffet. Jul 22, 2024 路 For federal employees, the Thrift Savings Plan (TSP) is one of the most powerful tools for building a secure financial future. Do this sooner rather Dec 5, 2024 路 If you still don’t believe in the seemingly magic powers of compounding interest and consistent savings, consider this: As of the end of September, 155,334 Thrift Savings Plan participants had balances of greater than 1 million dollars. Becoming a TSP millionaire is a goal that many strive for, and while the concept is simple, the journey is not easy. Our goal is to provide you withEasy, Quick, and Extremely EffectiveTSP investing, Thrift Savings Plan advice, TSP advice, and TSP tips to hel May 9, 2024 路 Abe Grungold Yes, you certainly do not want to buy an annuity, which is offered as a withdrawal option on the TSP. Don’t check it Feb 15, 2024 路 Becoming a TSP millionaire is not rocket science to figure out. With a little self discipline and the power of compound interest, millionaire status is available to federal employees who make wise use of the Thrift Savings Plan. By 2024, that number reached 157,760. Federal employees have a robust retirement toolkit, but the TSP’s flexibility makes it the wildcard. TSP Account Number. A simple calculator or spreadsheet can recreate my “Susan” scenario. Oct 9, 2024 路 Achieve financial freedom through a well-defined TSP millionaire strategy! Learn practical steps and expert advice for maximizing your TSP contributions, diversifying your portfolio, and setting yourself up for retirement success! Mar 11, 2025 路 Time, not just money, is the millionaire maker. May 15, 2025 路 There are nearly 147,000 people who have TSP balances greater than one million dollars. Mar 26, 2024 路 The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. Use features like bookmarks, note taking and highlighting while reading TSP Millionaire 2020. Once you learn the basics, your path to become and/or remain a TSP millionaire is as easy as tying your shoes. If you need specific investment advice, seek out a certified financial planner, but for general info this article can give you a step-by-step overview of the TSP all in one place. This is an UNOFFICIAL subreddit that is intended to provide info and advice to Federal Civilian and military employees who contribute to the TSP as part of their retirement plan. Understanding the cost and potential benefits of professional advice is crucial, and individuals Dec 14, 2023 路 Even in today’s inflationary times, the word millionaire has a certain cachet. 9 million active TSP (Thrift Saving Plan) participants. frommilitarytomillionaire 3 days ago 路 Current Allocation recommendations requires membership, but this guide is a start to understanding the funds much better than the TSP. An article by Lyn Alden in FEDweek notes that the average contribution years of a TSP millionaire is over 29 years. That’s some 50,000 more than a year ago. This significant growth is largely attributed to strong market performance, disciplined long-term saving, and the power of compounding. How can federal employees become TSP millionaires? The process is simple to understand but hard to do. TSP performance surged over the past two years, with one fund up over 50% in that time. There is a new record number of TSP millionaires thanks to recent strong stock market performance. We took a look at what happened, and despite them being a TSP millionaire we found Nov 13, 2024 路 She highlights that women often live longer than men and face unique challenges with pensions and Social Security due to multiple societal roles. The TSP essentially serves as the government version of a 401(k) for civilian and military federal employees. TSP investors poured hundreds of billions into stock funds as the market rose. Jun 8, 2020 路 TSP Millionaire 2020 [Lamb, James] on Amazon. Nov 26, 2024 路 The data do demonstrate how the number of TSP millionaires has surged since 2011. We welcome all questions and discussion related to TSP. As of September, about 95,000 of you had a TSP account with no less than $1 million. If you max the TSP for 18 yrs @ 10% return, you will be a millionaire (hence why someone at the end of a 20-24 yr career can be a TSP millionaire). May 3, 2017 路 TSP Millionaire is a service that provides Thrift Savings Plan advice for current and former federal employees. Dan explores the rise of TSP millionaires and shares insights on achieving this milestone. 3 million. The interest was something less than 1% and all interest is paid back to your tsp account. People that, are buying annuities with their TSP balance, they lose the flexibility of their TSP worth, and they lose potential income because if there is no beneficiary, that money is going to simply go to the insurance company. Here are a few steps you can take to increase your chances of becoming a millionaire through the TSP: Jan 16, 2024 路 Getting to a million in your TSP doesn’t happen by accident. 5, there will be a 10% reduction (unless you qualify for an exception like the rule of 55). The average years of contributions for those who have achieved millionaire status is 29. May 6, 2025 路 As of March 2025, there are approximately 147,000 Thrift Savings Plan (TSP) millionaires. They are active employees and retired employees who make up this TSP If you max a Roth IRA for 30 yrs @ 10% return, you will be a millionaire. Gov web information. May 1, 2025 路 With the publicity about TSP millionaires and the fact that almost all current federal employees are now under FERS, rather than CSRS, their image of the stock market may be a little longer. Nov 21, 2024 路 The stock market continues to defy logic, something it seems to do best. Our goal is to provide you with Easy, Quick, and Extremely Effective TSP investing, Thrift Savings Plan advice, TSP advice, and TSP tips to help federal employees earn a million dollar retirement account We would like to show you a description here but the site won’t allow us. Jun 17, 2023 路 For most people, in most normal investment return environments, it’ll take a bit more than 25 years to build a million dollars in today’s value, with the TSP’s contribution limits in mind. Interview Jan 20, 2021 路 Meantime, here are the myths to becoming a TSP millionaire Abraham Grungold, career fed and financial coach, says are to be avoided if you ever want a seven-figure account. The first step I would take is to become as educated as you can about how the TSP works. We would like to show you a description here but the site won’t allow us. For some advice on how to get there, the Federal Drive Apr 20, 2021 路 5,649,736 — that’s the number of active and retired feds who do not have at least $1 million in their Thrift Savings Plan account. According to the latest figures from the Federal Retirement Thrift Investment Board (FRTIB), the agency that oversees the Thrift Savings Plan (TSP), there are now 116,827 TSP millionaires as of the end of December 31, 2023. com. Jan 16, 2025 路 The number of TSP investors with at least $1 million in their accounts grew in 2024 to nearly 158,000, the second straight year of an increase of about 40,000, the TSP has reported. You are not contributing at least 5%. How To Invest the TSPhttps://hawsfederaladvisors. Becoming a TSP Millionaire Isn't as Hard as You Think; It's Much Harder. . Oct 31, 2024 路 Withdrawal Options. That’s the real story, the real number, even though the media (guilty!) seems focused on the 84,808 workers and retirees who do have accounts ranging in value, as of March 31, from $1 million to $9. 8% increase since December 31, 2022 when there were 76,889 TSP Jul 10, 2024 路 In my career, I have met many TSP Millionaires, and I can tell you the most common theme is good habits and discipline. We will walk through the following:1) fund performance characteristics and their drivers2) develop a rough idea where we are in the market cycle ( Nov 3, 2022 路 1. May 7, 2024 路 There are approximately 6. This is a 14. So I’ve been a TSP investor for 37 years Tom. Thrift Savings Plan 101: Plan Overview. Apr 25, 2025 路 Snapshot of TSP Millionaires. Dec 1, 2023 路 There are over 100,000 Thrift Savings Plan (“TSP”) millionaires at this point in 2023. As one might expect, those who have become TSP millionaires have been investing in the TSP a lot longer. com) Apr 2, 2024 路 There are approximately 117,000 Thrift Saving Plan (“TSP”) Millionaires. Would you like to be one of them? We get some practical advice from f I would just consider that money in your tsp as non existent and move forward investing yourself. If you want to be a TSP millionaire, you have to learn how to ride the TSP rollercoaster. Jul 2, 2024 路 Becoming a TSP millionaire is simple in theory but challenging in practice. According to data from the Federal Retirement Thrift Investment Board (FRTIB), there were 116,827 TSP millionaires as of the end of 2023—a 52% increase over the 76,889 who had at least seven-figure account balances at the Jan 26, 2024 路 The number of TSP millionaires exploded over the past year thanks to the outstanding performance of the stock market in 2023. Using computer metrics, and taking advice from strangers in Facebook forums are not good strategies. They may recall the high interest rates of the 1980s and their impact on stock and bond markets, and how fast stock trends can change. Therefore, if you decide to withdraw from the TSP before retirement and before the age of 59. If you interview many of the TSP millionaires, I believe most of them will credit time and the miracle of compounding. Understanding the timelin Mar 2, 2022 路 Many FERS federal employees have become millionaires in the TSP and here all our articles for you to become a TSP millionaire as well. It was established by Congress in the Federal Employees’ Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. Jun 4, 2020 路 TSP Millionaire 2020 - Kindle edition by Lamb, James. ly/49lR3t5I asked 75 , , TSP Millionaireis a service that providesThrift Savings Plan advicefor current and former federal employees. In 2011, there were just 208 TSP millionaires. There ought to be many more. Published by the Federal Retirement Thrift Investment Board, the May 20, 2025 路 How many people are millionaires from TSP? › According to the latest figures from the Federal Retirement Thrift Investment Board (FRTIB), the agency which oversees the Thrift Savings Plan (TSP), there are now 88,265 TSP millionaires as of the end of March 31, 2023. May 6, 2024 路 With over $845 billion across more than 7 million participants at the end of 2023—including 116,000 TSP millionaires—the US Government’s Federal Thrift Savings Plan stands as the world’s Dec 16, 2023 路 Missed out early years (didn't really understand what TSP was like many young folks) and wasn't the best investor picking funds even after I started TSP.
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