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Re: [TSPStrategy] tsp website

I am retiring and would like to sign up to this group with my personal account. How do I do that?

Debbie Flores

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From: TSPStrategy@groups.io <TSPStrategy@groups.io> on behalf of Liz Sharpe via groups.io <lizhsharpe=gmail.com@groups.io>
Sent: Wednesday, August 2, 2023 3:34 PM
To: TSPStrategy@groups.io <TSPStrategy@groups.io>
Subject: [EXTERNAL] Re: [TSPStrategy] tsp website

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John,

Imho, I would start taking out money from TSP immediately and looking at your tax brackets, also considering Medicare surcharges for higher income. It may be worth your while to consult a financial planner to consider more options, the ones you can pay for advice without signing on with them.

It may be worth it to jump up a tax bracket or two now instead of later. Don't you wish we could predict the future of tax increases?

Tax law will change in 2025 unless Congress changes it. Taxes could go up considerably. Do what you can now.

Liz S.

On Wed, Aug 2, 2023, 3:38 PM John via groups.io <johnlomack=yahoo.com@groups.io> wrote:

IMHO
L funds put too much into F & G, diluting the gains.

I told all my new co-workers before I retired to just put it all in S and don't look at it. Over a long period, that's where the biggest gains are.

I weathered the drops from '99 through '22 and ended up in the two-comma club. Had I not got nervous and jumped out at a couple of times, I would have $200,000 more. I maxed out contributions as soon as I could afford it and catch-up as well. (Homemaker spouse and put one kid through college w/o student loans)
My only regret is not doing Roth. In a few years, the RMD will kill me on taxes. I'm looking at a Roth conversion, but unfortunately can't do that within TSP.

Re: [TSPStrategy] tsp website

here are 20 years of S, C, I, F, G funds plotted on a graph

the G fund is like cash stored in a desk,

the F fund is almost as bad

the I fund has gains

the S & C funds have nice gains

there are 3 linear regression lines plotted on the S C and I fund returns

the S & C pretty similar gain wise

It seems like it took about 4-5 years to recover from the 2008 recession

I'm personally 100% in C fund and we were 2 commas also after 20 years of maxing out our TSP's

On Wednesday, August 2, 2023 at 03:38:05 PM EDT, John via groups.io <johnlomack=yahoo.com@groups.io> wrote:

IMHO
L funds put too much into F & G, diluting the gains.

I told all my new co-workers before I retired to just put it all in S and don't look at it. Over a long period, that's where the biggest gains are.

I weathered the drops from '99 through '22 and ended up in the two-comma club. Had I not got nervous and jumped out at a couple of times, I would have $200,000 more. I maxed out contributions as soon as I could afford it and catch-up as well. (Homemaker spouse and put one kid through college w/o student loans)
My only regret is not doing Roth. In a few years, the RMD will kill me on taxes. I'm looking at a Roth conversion, but unfortunately can't do that within TSP.

[TSPStrategy] Bill aims to reinstate tax deduction for fed union dues, and more

https://www.govexec.com/pay-benefits/2023/08/bill-aims-reinstate-tax-deduction-fed-union-dues-and-more/389046/

Bill aims to reinstate tax deduction for fed union dues, and more

Pay and benefits updates you may have missed.

AUGUST 2, 2023 12:00 PM ET

PAY & BENEFITS WATCH

By NATHAN ABSE

Contributing Editor

Legislation pending in Congress would reinstate favorable tax treatment of certain expenses incurred by hundreds of thousands of federal employees—most prominently, permitting deductions for union dues.

"Workers used to be able to deduct their union dues just like businesses deducting the costs of doing business," the American Federation of Government Employees states in a July 31 release supporting the proposal, "but this changed in 2017 when a sham reform was enacted to borrow trillions to fund tax cuts for the wealthy while stiffing hardworking Americans."

The release is referring to the 2017 Tax Cuts and Jobs Act, signed into law in December of that year.

"The Tax Fairness for Workers Act, H.R. 4963, would restore the tax deductibility of union dues for workers and would create an 'above the line' deduction for unions so workers can use it even if they don't itemize," AFGE notes.

The House bill, introduced by Reps. Brendan Boyle, D-Pa., and Donald Norcross, D-N.J., has a reported 158 co-sponsors, while a companion bill launched by Sen. Bob Casey, D-Pa., in that chamber has garnered 39.

"In addition to annual dues, labor union members often incur significant costs related to their work," Rep. Boyle points out in a July 27 release. "These extraneous costs present a challenge to many hardworking individuals who rely on these deductions to offset expenses and pay household bills."

"This legislation will reintroduce those deductions that were taken away several years ago and will ease some of the tax burden pressure currently faced by many middle-class families," he adds.

The proposal is in House bill H.4963 and Senate bill S.738.

Cyber Push

"Today, the Biden-Harris Administration unveiled the National Cyber Workforce and Education Strategy (NCWES), a first-of-its-kind comprehensive approach aimed at addressing both immediate and long-term cyber workforce needs," the White House announced on July 31. "Filling the hundreds of thousands of cyber job vacancies across our nation is a national security imperative and the Administration is making generational investments to prepare our country to lead in the digital economy."

In a release, the administration repeatedly emphasized—grammar aside—that the cyber push means "good paying, middle class jobs."

And while salary and benefits are noticeably not mentioned at the top of this lengthy document—a section entitled "approach" outlining key parts of the administration's plan to solve the ongoing lag in cyber hires—improved compensation provisions are enumerated in subsections on agencies where such measures are already under way. For example, special pay rates are on offer at the Department of Veterans Affairs.

"This is an important step towards closing the growing gap between industry and Federal Government salary rates for technology and cybersecurity roles," the White House underlined. "The [Special Salary Rate] represents an average increase of 17% in basic pay for VA's highly skilled technical workforce who are dedicated to providing veterans and their families with the world class benefits they have earned."

Union: Secure Fed Pay Gains, Nix Top-End Tax Cuts

Leadership at the American Federation of State, County and Municipal Employees (AFSCME)—which also represents thousands of federal employees across various agencies and departments including Justice, Transportation, Agriculture, Veterans Affairs, the Library of Congress, and others—recently pushed back on House Republicans who are simultaneously trying to advance legislation to scale back pay and benefits for government employees and cut taxes for the very wealthy.

"In June, a new round of tax cuts for the super-rich and corporations were proposed in Congress," Elissa McBride, secretary treasurer for AFSCME, writes. "Advocates for the current round of tax cuts want to slash public services and cram more into the already bulging pockets of the top 1%. And these are the same people, by the way, who were willing to hold the economy hostage to force reckless spending cuts during the debate over raising the debt ceiling. Fortunately, public opinion is not on their side."

Federal employees and their unions are hoping to clinch a still-in-the-pipeline 5.25% across-the-board pay increase in base pay for next year, and to hang on to or expand additional compensation and other improvements for the Border Patrol, Transportation Security Administration, as well as for wildland firefighters and cyber employees across multiple agencies.

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[TSPStrategy] Some of the biggest regrets of retiring federal employees

https://www.govexec.com/pay-benefits/2023/08/some-biggest-regrets-retiring-federal-employees/389035/

Some of the biggest regrets of retiring federal employees

COMMENTARY | As they face the realities of life, retirement, and getting older, some federal employees have shared a few regrets with financial planner Dallen Haws.

AUGUST 2, 2023

RETIREMENT BENEFITS

By DALLEN HAWS

John only had two more years until retirement and he was very excited.

He had already worked 30 years with the government and was ready to enjoy the fruits of his labors. All he had to do was squeak out another 24 months.

But then the unthinkable happened. Within the course of 12 hours he was informed that his only son had been killed in a car accident and his wife was diagnosed with a terminal illness.

These events changed everything for John.

The Big 4 Regrets

I've worked and spoken with thousands of retiring and retired federal employees and most of them have had great lives and great careers. But most of them have regrets as they come face to face with the realities of life, retirement, and getting older.

Here are the four most common regrets I hear from federal employees so that hopefully you can avoid them.

I Wish I'd Had The Courage To Live A Life True To Myself, Not The Life Others Expected Of Me.

The expectations of others are always pressing down on you. Whether from your parents, friends, or coworkers. But what do YOU actually want?

This is one of the most common regrets of all. What dreams did you set aside in efforts to appease those around you? What type of retirement do YOU want? Many people haven't taken the time to think through their true dreams and desires before it is too late.

I Wish I Hadn't Worked So Hard

This regret is most common among breadwinners who spent much of their life focused on their careers. While a good career is important for a secure lifestyle and retirement, many regret missing key moments or periods like when their kids were young. And when looking back many realize that much of their time on the career treadmill was spent simply keeping up with the Joneses in income and possessions.

I Wish I Had Stayed In Touch With My Friends

There is nothing like retirement to realize that you left the vast majority of your social circle behind when you left the office. And while money and security is important, many realize that great relationships and friendships are truly what make an amazing retirement. But even if you've let old friendships dwindle, retirement can be a great opportunity to bring them back to life or create new ones.

I Wish That I had Let Myself Be Happier

Retirement can be an incredible time of life but it is far from a fix-all. An unhappy person that suddenly retires may have a surge of happiness but will most likely settle back into their old habit of being unhappy. But even if retirement was a fix-all most have regrets of not being happier along the way. Because at some point we all realize that happiness is not something that happens to you but is simply a choice. So let's choose happiness now regardless of how far you are from retirement or the amount of your TSP balance.

Final Thoughts

Life is so precious yet unpredictable. We simply have no idea how things are going to go or how long we have. Living a regret-free life comes down to consciously choosing what kind of life you want and making it happen NOW.

Dallen Haws is a financial planner and host of the Haws Federal Advisors "Plan Your Federal Benefits" YouTube channel and Haws Federal Advisors podcast. These regrets were inspired by Haws' work with feds as well as the book, The Top 5 Regrets of the Dying, by Bronnie Ware.

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Re: [TSPStrategy] tsp website

John,

It may be worth it to jump up a tax bracket or two now instead of later. Don't you wish we could predict the future of tax increases?

Tax law will change in 2025 unless Congress changes it. Taxes could go up considerably. Do what you can now.

Liz S.

On Wed, Aug 2, 2023, 3:38 PM John via groups.io <johnlomack=yahoo.com@groups.io> wrote:

IMHO
L funds put too much into F & G, diluting the gains.

I told all my new co-workers before I retired to just put it all in S and don't look at it. Over a long period, that's where the biggest gains are.

I weathered the drops from '99 through '22 and ended up in the two-comma club. Had I not got nervous and jumped out at a couple of times, I would have $200,000 more. I maxed out contributions as soon as I could afford it and catch-up as well. (Homemaker spouse and put one kid through college w/o student loans)
My only regret is not doing Roth. In a few years, the RMD will kill me on taxes. I'm looking at a Roth conversion, but unfortunately can't do that within TSP.

_._,_._,_

Groups.io Links:

You receive all messages sent to this group.

_._,_._,_

Re: [TSPStrategy] tsp website

IMHO
L funds put too much into F & G, diluting the gains.

I told all my new co-workers before I retired to just put it all in S and don’t look at it. Over a long period, that’s where the biggest gains are.

I weathered the drops from ‘99 through ‘22 and ended up in the two-comma club. Had I not got nervous and jumped out at a couple of times, I would have $200,000 more. I maxed out contributions as soon as I could afford it and catch-up as well. (Homemaker spouse and put one kid through college w/o student loans)
My only regret is not doing Roth. In a few years, the RMD will kill me on taxes. I’m looking at a Roth conversion, but unfortunately can’t do that within TSP.

_._,_._,_

Groups.io Links:

You receive all messages sent to this group.

_._,_._,_

[TSPStrategy] Most TSP funds continued their upward trend in July

https://www.govexec.com/pay-benefits/2023/08/most-tsp-funds-continued-their-upward-trend-july/389014/

Most TSP funds continued their upward trend in July

Only one of the portfolios in the federal government's 401(k)-style retirement savings program ended last month in the red.

AUGUST 1, 2023 01:44 PM ET

ERICH WAGNER

The federal government's 401(k)-style retirement savings program continued its ascent in July, with nearly all of the Thrift Savings Plan's portfolios posting gains.

For the second straight month, only the TSP's fixed income (F) fund lost value last month, falling 0.07%. So far this year, the F Fund has increased by 2.18%.

The small- and mid-size businesses of the S Fund saw the best performance, finishing July 5.91% in the black. Since January, the S Fund has grown 19.30%. And the common stocks of the C Fund gained 3.21%, bringing its 2023 performance up to 20.62%.

The international (I) fund increased 2.82% last month. So far this year, the I Fund has increased by 15.32% in value. And the G Fund, which is made up of government securities, grew by its statutorily mandated rate of 0.34% last month. Since January, the G Fund has increased 2.26%.

Each of the TSP's lifecycle (L) funds, which shift to more stable investments as participants get closer to retirement, posted gains in July. The L Income Fund, designed for those already making withdrawals, increased 1.09%; L 2025, 1.44%; L 2030, 2.18%; L 2035, 2.36%; L 2040, 2.54%, L 2045, 2.70%; L 2050, 2.86%; L 2055, 3.42%; L 2060, 3.42%; and L 2065, 3.42%.

So far this year, the L Income Fund has grown 6.19%; L 2025, 8.28%; L 2030, 11.98%; L 2035, 12.95%; L 2040, 13.92%; L 2045, 14.75%; L 2050, 15.59%; L 2055, 18.52%; L 2060, 18.52%; and L 2065, 18.52%.

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Re: [TSPStrategy] tsp website

Re: [TSPStrategy] tsp website

[TSPStrategy] Bill aims to reinstate tax deduction for fed union dues, and more

Bill aims to reinstate tax deduction for fed union dues, and more

Pay and benefits updates you may have missed.

[TSPStrategy] Some of the biggest regrets of retiring federal employees

Some of the biggest regrets of retiring federal employees

COMMENTARY | As they face the realities of life, retirement, and getting older, some federal employees have shared a few regrets with financial planner Dallen Haws.

Re: [TSPStrategy] tsp website

Re: [TSPStrategy] tsp website

[TSPStrategy] Most TSP funds continued their upward trend in July

Most TSP funds continued their upward trend in July

Only one of the portfolios in the federal government's 401(k)-style retirement savings program ended last month in the red.

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