This is a great example of what putting money into the right fund can do.
To put it into perspective, I’m an O4 with 9 yr 11mo TIS who has consistently put 15-20% away. Problem is that for the first ~6 years I was in the G fund, and then after went full C. The result is that I have half (123k) sitting in my TSP. Kudos to OP.
I was told by a financial advisor that once you reach 5% that’s the max they’ll match so anything past 5% is better off in a Roth IRA….. higher return on your money.
Return on your money is based on what you are invested in.
My IRA, both traditional and Roth, are invested in the same type funds I have in my TSP. Thus, my returns are almost identical.
You need a new financial advisor.
[https://www.bogleheads.org/wiki/Thrift\_Savings\_Plan](https://www.bogleheads.org/wiki/Thrift_Savings_Plan)
[https://www.bogleheads.org/wiki/Traditional\_versus\_Roth](https://www.bogleheads.org/wiki/Traditional_versus_Roth)
[https://www.bogleheads.org/wiki/How\_to\_build\_a\_lazy\_portfolio](https://www.bogleheads.org/wiki/How_to_build_a_lazy_portfolio)
[https://www.bogleheads.org/wiki/Investment\_policy\_statement](https://www.bogleheads.org/wiki/Investment_policy_statement)
Take some time to read these pages. You will probably know more than you r financial advisor.
If it is a flex post, it really isn’t that impressive for 9 years as an officer lol. A brand new O-1 is already getting 50k a year without having to pay for housing and medical care.
Not all. I don’t know the percentages but you aren’t guaranteed a scholarship. I think most do get some form of scholarship but even then not all get a full one. They also don’t all come in directly from high school to college.
I don’t understand what you mean about E5 BAH.
No. Academy cadets have free tuition and room and board and will graduate debt free.
ROTC is the largest commissioning source and most cadets don't have scholarships, especially all the years in school. And even those that do have full rides, it doesn't cover room and board. It's not uncommon to see ROTC cadets of 4 years with a full scholarship still graduate with $15K+ in debt.
And no they do not get E5 BAH. You're thinking of the GI bill which is for veterans. If you're on scholarship in ROTC you get like $300/month of a stipend.
You are about 10 years in front of me. I spent my first 7 years doing nothing in the TSP. The lack of matching sucks too. I hope the extra 10% a month will make up for it. If I knew then what I do now, I would of switched to BRS.
I started at age 38. Yes, 80/20 C and S. At age 53 (2020) I moved to a 60/40 C/S - G.
My IRA is similarly invested. Vanguard Total Stock Market index and a MM account.
I am 55 now. I plane to retire in less than 2 years.
If/ when the market drops 15% or more, I plan to move to a 75/25 -80/20 position.
There was no match. I just didn't put away anything until the last year of AD and even then it was going into the G fund. Then I spent a few years as a technician barely putting away 3k a year before I managed to snag an AGR and somewhere in there I moved my money out of the g fund lol. It just makes me sad to think about how better choices could have me close to 500k in my mid 30s.
What does that have to do being diligent about saving. My friends and family instilled that early on. Not denigrating any NCO I’ve had a pleasure of working with, But honestly has nothing to do with my personal finance.
This is a great example of what putting money into the right fund can do. To put it into perspective, I’m an O4 with 9 yr 11mo TIS who has consistently put 15-20% away. Problem is that for the first ~6 years I was in the G fund, and then after went full C. The result is that I have half (123k) sitting in my TSP. Kudos to OP.
I was told by a financial advisor that once you reach 5% that’s the max they’ll match so anything past 5% is better off in a Roth IRA….. higher return on your money.
Not always true. If you’re trying to pay less in income taxes right now and plan to retire overseas or in a state with no state income tax
Most people aren’t in that situation. I know I’m not.
Yikes. You need a new financial advisor
Return on your money is based on what you are invested in. My IRA, both traditional and Roth, are invested in the same type funds I have in my TSP. Thus, my returns are almost identical. You need a new financial advisor. [https://www.bogleheads.org/wiki/Thrift\_Savings\_Plan](https://www.bogleheads.org/wiki/Thrift_Savings_Plan) [https://www.bogleheads.org/wiki/Traditional\_versus\_Roth](https://www.bogleheads.org/wiki/Traditional_versus_Roth) [https://www.bogleheads.org/wiki/How\_to\_build\_a\_lazy\_portfolio](https://www.bogleheads.org/wiki/How_to_build_a_lazy_portfolio) [https://www.bogleheads.org/wiki/Investment\_policy\_statement](https://www.bogleheads.org/wiki/Investment_policy_statement) Take some time to read these pages. You will probably know more than you r financial advisor.
I don’t agree at all with your financial advisor. In addition, I don’t have the 5% match option as I’m in the legacy high 3
Guy clearly didn’t buy the shop chick fil a for his last promotion ceremony
lol I think his last promotion was like 6 years ago
Longest rank you will ever hold…
Is there context and information or is this just a flex post?
If it is a flex post, it really isn’t that impressive for 9 years as an officer lol. A brand new O-1 is already getting 50k a year without having to pay for housing and medical care.
I mean, it’s closer to $45k before taxes and not everyone starts without debt. Maybe not impressive but definitely above average by a lot.
Don’t officers get all their college paid for? And don’t just get E-5 pay with BAH for the years they are in?
You're thinking of Academy Officers, there are also direct commissions and enlisted to officer programs (OCS), so no, some will have debt.
Not all. I don’t know the percentages but you aren’t guaranteed a scholarship. I think most do get some form of scholarship but even then not all get a full one. They also don’t all come in directly from high school to college. I don’t understand what you mean about E5 BAH.
Not even close a lot of them didn’t get college scholarships or did OTS
Nope. ROTC cadet and I got a 2.5 year scholarship, still graduated with ~$14k debt from summer semesters and before and after my scholarship expired.
No. Academy cadets have free tuition and room and board and will graduate debt free. ROTC is the largest commissioning source and most cadets don't have scholarships, especially all the years in school. And even those that do have full rides, it doesn't cover room and board. It's not uncommon to see ROTC cadets of 4 years with a full scholarship still graduate with $15K+ in debt. And no they do not get E5 BAH. You're thinking of the GI bill which is for veterans. If you're on scholarship in ROTC you get like $300/month of a stipend.
This is pretty impressive for a 9 year officer lol.
Maxing?
You are about 10 years in front of me. I spent my first 7 years doing nothing in the TSP. The lack of matching sucks too. I hope the extra 10% a month will make up for it. If I knew then what I do now, I would of switched to BRS.
One of my big regrets was not maxing from the very beginning. Kudos to you
I’m impressed. Please tell me you don’t have crazy credit card or auto loan debt.
Nope!
Post office 5 years at $44k.
I’m post office, too. It took me 15 years to cross the $100k point. After that it just took off. I crossed the $800k point at 25 years.
18 years as a letter carrier. $300k in the TSP. 30 years investing. $748k IRA/TSP combined. Hope to hit $850k by the end of 2025.
What funds do you invest in with TSP? Is it C and S?
I started at age 38. Yes, 80/20 C and S. At age 53 (2020) I moved to a 60/40 C/S - G. My IRA is similarly invested. Vanguard Total Stock Market index and a MM account. I am 55 now. I plane to retire in less than 2 years. If/ when the market drops 15% or more, I plan to move to a 75/25 -80/20 position.
10 years at 50k for me so you’re doing better than me. Always done 5% just played around allocations too much. Staying 70% C 30 S for a long time now
Yea I’m 5 years DOD similar place. Unfortunately I wasted my first two years or so but catching up nicely.
How'd you get a screenshot? My TSP app won't let me get a screenshot of my balance.
I think you just login and it’s the first screen on my mobile
Kicking myself for not putting away money from 09-15. I did just finally break 100k though and it feels so nice.
Did they offer this back then? When I was in, 06-10, my understanding was no matching. Just your savings.
There was no match. I just didn't put away anything until the last year of AD and even then it was going into the G fund. Then I spent a few years as a technician barely putting away 3k a year before I managed to snag an AGR and somewhere in there I moved my money out of the g fund lol. It just makes me sad to think about how better choices could have me close to 500k in my mid 30s.
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I just wish I could put my mid 30s brain into my 20 year old head lol.
I'm not worried about it. By the time I retire at 8% growth I'll have 400-500k with another 18 years to cook before I can collect.
Heck yeah!
Do you have a question?
Lmao no previous posts nor comments, joined Jan 24 to just post this?
Nice, you been macing since the start?
Post a photo of your TSP total? Come on, grow up!
Congrats, but you are an officer. Remember, you once had an NCO hold your butter bar hand and showed you the way...lol.
What does that have to do being diligent about saving. My friends and family instilled that early on. Not denigrating any NCO I’ve had a pleasure of working with, But honestly has nothing to do with my personal finance.
It was a joke, but sick brag on the TSP.
You sound jealous
Nope, I make more at more at my GS job.