![Re: [TSP_Strategy] Who Has 4.6 Million in Their TSP?](http://2.bp.blogspot.com/-erTXCq61ULM/TmHYAQBZ0GI/AAAAAAAACCs/6cBX54Dn6Gs/s110-c/default.png "Re: [TSP_Strategy] Who Has 4.6 Million in Their TSP?")
On Feb 29, 2016, at 8:38 PM, Rashid Ciampi ciampiboy@me.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
I will jump in on this one. 20 yr federal employee I think the best advice I can give someone who just started out with the FED's is if you can and once you do to contribute the max amount and once you do after a while you won't even miss it and will adjust your life style to accommodate your contribution. i will also say if at all possible never use your TSP unless course you need too for life and death purposes only. it do not take a lot of effort to reach your goals just be consistence. I only contributed 5% in the beginning and wish I had this forum 20 yrs ago although my balance is around 350k mark Ive had a number of withdrawals and still think its respectable but could have been so much better if I took the advice I'm giving to you. good luck and stay focus. Just so you don't think I'm giving advice that I can't follow I also own 5 property's so I wasn't just borrowing money to buy a set of rims or a super surround sound system..lol Stay focus
On Feb 29, 2016, at 8:14 PM, Mike VanAmburgh mjv325@gmail.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
I understand if you prefer not to answer but how long did it take you to build it to $400k? That's incredible. Are you maxed out for contributions?
I've been a federal employee for just 2 years. I'm only at $11k now but putting in $375 per paycheck and will eventually work my way up to the current $660-ish per pay period to max it out annually. I started out at just the 5% contribution and have been increasing slowly it as I pay stuff off. For now, $375 has been a workable number for investing and still being able to enjoy life. One of the guys who used to work with us put every spare dime he had into investments, but he never did anything for fun. I want to set myself up to live comfortably for retirement (in approximately 19 years) but I also want to have fun now too.
Anyway, just babbling. Thanks for listening. :)
Mike
On Monday, February 29, 2016, 7:32 PM, Scotty Cox sjcx@cableone.net [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
I was right under 400k(100% S) last year at the high point, I haven't even checked in months but obviously down
From: "sarah_oz@yahoo.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: "TSP Strategy" <TSP_Strategy@yahoogroups.com>
Sent: Monday, February 29, 2016 9:10:12 AM
Subject: [TSP_Strategy] Who Has 4.6 Million in Their TSP?
So who's the $4.6 million fed???
By Mike Causey | @mcauseyWFED
February 27, 2016 1:00 am
So who's the fattest cat in the federal Thrift Savings Plan? Does the fed with the $4.6 million account sit in the next cubicle? Or is he/she maybe a member of your car pool? Short answer: Probably not. Almost certainly not. But he/she is out there. Along with a growing number of TSP millionaires.
As of last January the TSP, Uncle Sam's in-house 401k plan, had 3,272 people with accounts of $1 million or more. ONE MILLION DOLLARS!!!!
Some members of the Million Dollar Club came into government with lots of money. They are often political appointees or very successful lawyers appointed as federal judges. They transferred savings from company or corporate 401k funds into the TSP, often because they appreciated its lowest-in-the-business administrative fees. These are people who know how to make, and keep, money. But a substantial number of the millionaires did it the old-fashioned way. They invested in stock index funds, smiling when the market was up but continuing to buy stocks when the markets were down, and shares were on sale. Investing regularly, without getting emotional, and the value of compounding made them millionaires. The typical TSP millionaire has been investing for just over 28 years.
The 5 percent matching contributions that FERS employees can get from the government helped boost their TSP balances dramatically. Like so:
There are 18,846 TSP participants who have account balances of between $750,000 and $999,000 as of Jan. 2016. On average they've been investing for 28 years, like the millionaires they aspire to be.
More than 90,000 feds (92,092 to be precise) have account balances of between half a million and $749,000. Average time in the TSP: 27 years.
The number of participants with account balances from $250,000 to $499,000 is an impressive 371,209 participants who've been in the federal 401k plan an average of 24 years.
Another 1.4 million people have accounts ranging from $50,001 to $249,000, with an average time of 19 years in the plan.
As impressive as the millionaires club is, the overall smarts of TSP investors is equally impressive. As of last count there were 2,810,398 participants who have accounts worth up to $50,000. On average they've been participating for 9 years.
So what's in your TSP portfolio?
Posted by: Juan Felipe Gonzalez <juanfgonzalez14@hotmail.com>
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