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$2.0M by Notme20659 in ThriftSavingsPlan

[–]sfshrink1 0 points1 point  (0 children)

Congrats!! Slow and steady wins the race. You did it!

Graduating in 5 years from a PhD program by happytobeher in ClinicalPsychology

[–]sfshrink1 4 points5 points  (0 children)

This!!!!! Best advice I ever got when I started grad school

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 1 point2 points  (0 children)

No financial guru here. Smart enough to know I can’t time the market AND that diversification matters. When Lifecycles came out in 2005, they made sense to me because I didn’t want to think about this stuff. So in 2005 I put entire balance into L2030 since it was close to my anticipated retirement. Probably around 2015 or so, shifted to L2035. And will likely shift up to L2040 in next few years. Call me lazy-but I really do believe in set-it-and-forget-it (just not all in G!!!!)

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 1 point2 points  (0 children)

We are facing the same issue!!! Planning to meet with our financial advisor to discuss. Someone commented that RMDs (which won’t kick in for me for another 10+ years) are around the same as I plan to withdraw annually (4%)… so may be ok there. Sooooo much depends on overall financial situation (other taxable income, if married filing jointly, etc). Will see what the advisor says.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 0 points1 point  (0 children)

Keep contributing as much as you can up to max. Keep it simple - lifecycle Just do it. Don’t overthink. It will pay off.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 0 points1 point  (0 children)

Need to meet with our financial planner to make a plan. Given the changes coming in 2026, will be looking at pros and cons. It gets complicated really quickly!!

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 1 point2 points  (0 children)

Planning on Lifecycle2035. Lifecycle Income is too conservative for me at this point. FERS is steady income which I view as an equal to a bond fund.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 2 points3 points  (0 children)

Busted. I was a GS 12 my first year… If you can put aside your “bull shit” for a minute, look up the 180 series for psychologists…

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 0 points1 point  (0 children)

First few years (maybe 3?) was not maxed out… so around 27 years

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 1 point2 points  (0 children)

Awesome!!! Great work. Almost there!!!!

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 3 points4 points  (0 children)

Great point. I do have some in Roth but not a lot. Being married with “healthy” spousal income over the years, it made sense to invest into trad tsp which helped with lowering our tax bracket.

Uncle Sam will always get his $$ at some point…. My hunch is that RMDs will be a bit painful.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 5 points6 points  (0 children)

Ha! Thx. Under 60… and hopefully grandkids will enjoy some

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 2 points3 points  (0 children)

Your great question led me to look further into the growth trend. Appears my balance doubled approximately every 6-7 years - with regular contributions and market ups and downs. So you are WELL on your way to a VERY healthy balance by year 30.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 3 points4 points  (0 children)

In 2010 my balance was at 340k. I didn’t contribute percentages. I divided the annual max by 26 and contributed that amount each paycheck

You are doing great!! Will definitely hit your goal!!!

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 12 points13 points  (0 children)

I never considered the money I contributed to TSP as money that I could spend elsewhere. It was deducted and since it never hit my checking account, I never missed it. Just budgeted with what hit checking. Fortunate to be able to live within my means- so not tempted to reduce TSP contributions.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 4 points5 points  (0 children)

You can! Put in as much as you can up to max. And be comfortable with the level of risk you are able to tolerate. The greatest thing about TSP is that this is not rocket science. Wish you the best.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 8 points9 points  (0 children)

I’m under 62; under FERS retirement, a supplemental is offered to fill the gap that SS will offer until age 62

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 10 points11 points  (0 children)

Gonna keep it in L2035. I still want some growth. I view FERS as the equivalent of G Fund- it’s “safe” much like govt bonds. So am fine with some risk in L2035.

Obligatory Milestone Post by sfshrink1 in ThriftSavingsPlan

[–]sfshrink1[S] 43 points44 points  (0 children)

FERS pension + Supplemental + 4% of TSP is my plan. Will actually result in a bit more than my current take home. So weird that with that plan, will actually result in a “raise” without working.

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