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Fwd: [TSP_Strategy] Seeking Opinions - Slightly Off Topic

Thank you for responding.

It's just over $19,000. I believe over another 5 years or so.

Also since I wasn't thinking I already requested a $11,000 tsp loan end of last week. My thought process was to pay the remaining $8,000 of my student loan with this 20 month interest free credit card, but didn't realize I can't pay my student loans via credit card.

Plus now many colleagues are saying don't do TSP loan. So kind of worried I made a bad decision all together. :/

Thank you,

A'ndrea

Sent from my iPhone

Begin forwarded message:

From: "GlobalTJB globaltjb@gmail.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
Date: October 1, 2018 at 1:01:26 AM EDT
To: TSP_Strategy@yahoogroups.com
Subject: Re: [TSP_Strategy] Seeking Opinions - Slightly Off Topic
Reply-To: TSP_Strategy@yahoogroups.com

The general consensus is to not take a tsp loan, but that interest rate is very high. whats your balance and what is your payoff time line at that current interest rate? THe plus side is more money will go to principal and despite losing out on the growth you will be gaining the interest you pay yourself in addition to replenishing your TSP balance. I would consider it depending on the repayment timeframe and tightening the wallet as much as possible.

On Mon, Oct 1, 2018 at 12:51 AM 'EMERY, ANDREA' andrea.emery@cbp.dhs.gov [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

Seeking student loan advice. I know, I know this is not 100% TSP related, but I'm taking a TSP loan out to pay back Private student loans. And yes I should have done this a LONG, long time ago.

Any suggestions? Few of my colleagues are saying don't do a TSP loan. But with a 2.85% interest rate versus 9.75% interest rate (it has just continued to rise over the last 5 years).

I am also considering paying part of the student loans via a 0% credit card offer (20 months). But just realized that the 0% offer is only for purchases or balance transfers, not for cash advances (25% interest rate). I'm 99% sure the student loan company only allows payment via check or debit card, not credit card.

If anyone on here has some wisdom, or personal experience, I would be grateful to hear from you.

Thank you in advance. And Sarah, thank you again for your wisdom. My TSP has been doing well over the last few years I've been part of this group. J

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Posted by: A'ndrea Emery <aemery04@gmail.com>

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Re: [TSP_Strategy] Seeking Opinions - Slightly Off Topic

The general consensus is to not take a tsp loan, but that interest rate is very high. whats your balance and what is your payoff time line at that current interest rate? THe plus side is more money will go to principal and despite losing out on the growth you will be gaining the interest you pay yourself in addition to replenishing your TSP balance. I would consider it depending on the repayment timeframe and tightening the wallet as much as possible.

On Mon, Oct 1, 2018 at 12:51 AM 'EMERY, ANDREA' andrea.emery@cbp.dhs.gov [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

Seeking student loan advice. I know, I know this is not 100% TSP related, but I'm taking a TSP loan out to pay back Private student loans. And yes I should have done this a LONG, long time ago.

Any suggestions? Few of my colleagues are saying don't do a TSP loan. But with a 2.85% interest rate versus 9.75% interest rate (it has just continued to rise over the last 5 years).

I am also considering paying part of the student loans via a 0% credit card offer (20 months). But just realized that the 0% offer is only for purchases or balance transfers, not for cash advances (25% interest rate). I'm 99% sure the student loan company only allows payment via check or debit card, not credit card.

If anyone on here has some wisdom, or personal experience, I would be grateful to hear from you.

Thank you in advance. And Sarah, thank you again for your wisdom. My TSP has been doing well over the last few years I've been part of this group. J

__._,_.___

Posted by: GlobalTJB <globaltjb@gmail.com>

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[TSP_Strategy] Seeking Opinions - Slightly Off Topic

Seeking student loan advice. I know, I know this is not 100% TSP related, but I’m taking a TSP loan out to pay back Private student loans. And yes I should have done this a LONG, long time ago.

Any suggestions? Few of my colleagues are saying don’t do a TSP loan. But with a 2.85% interest rate versus 9.75% interest rate (it has just continued to rise over the last 5 years).

I am also considering paying part of the student loans via a 0% credit card offer (20 months). But just realized that the 0% offer is only for purchases or balance transfers, not for cash advances (25% interest rate). I’m 99% sure the student loan company only allows payment via check or debit card, not credit card.

If anyone on here has some wisdom, or personal experience, I would be grateful to hear from you.

Thank you in advance. And Sarah, thank you again for your wisdom. My TSP has been doing well over the last few years I’ve been part of this group. J

__._,_.___

Posted by: "EMERY, ANDREA" <ANDREA.EMERY@cbp.dhs.gov>

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Re: [TSP_Strategy] Three Things to do during Open Season

We tried that more than once. It was a struggle to get our own money back. I decided it was smarter to put more money away, either in TSP or an IRA. It provides the same tax break, and you don't have to justify anything. It remains your money. You just need to be able to afford to put it away, and not need it for present living expenses.

Yes, you should have maximum funds in both TSP and IRA.

HSA is another opportunity to save on taxes. These tax-free funds may also be invested if they are not used for medical expenses. It's a very wise choice.

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Posted by: sarah_oz@yahoo.com

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Re: [TSP_Strategy] Three Things to do during Open Season

We tried that more than once. It was a struggle to get our own money back. I decided it was smarter to put more money away, either in TSP or an IRA. It provides the same tax break, and you don't have to justify anything.. It remains your money. You just need to be able to afford to put it away, and not need it for present living expenses.

From: sarah_oz@yahoo.com [TSP_Strategy]

Sent: Friday, September 28, 2018 4:50 PM

To: TSP_Strategy@yahoogroups.com

Subject: Re: [TSP_Strategy] Three Things to do during Open Season

Does anyone in this group have an HDHP? Are you happy with it?

Did you have one when you had a large unexpected expense? Were you still happy with it?

It includes a considerable Health Savings Account which is tax free. It also includes catastrophic coverage.

Look at each of the plans with respect to a large unexpected expense and see how you would fare.

I think they are excellent.