TSP – Increase Individual Wealth

Retirement isn’t something that is easily achievable. For most of the federal employees, becoming a wealthy retiree is only a long-off dream that they have always want to achieve. For some, it is also a nightmare. Many companies that used to offer pensions have now made the switch to self-fundable retirement plans. According to EBRI, there is only around 14 percent of workers that are employed in the private sector that enjoyed defined pension plans in 2011. There has been a massive decline in the number of companies that have started dropping their plans. Around 50 percent of businesses now offer 401(k) plans to their employees.

TSP thrift savings plan
Image Credits

The 401 (k) plans offered by Uncle Sam are considered to be the most generous of them all. The TSP has the lowest administrative fee, and a multitude of workers that come under the FERS retirement plan are eligible for approximately 5 percent from the government. According to a report from the Thrift Investment Retirement board of the federal government, around 75 percent of the employees invest around 5 percent (if not more) in their Thrift savings plan, which makes them eligible for the 5 percent match from the government. This 5 percent, in the longer run, can amount to serious amounts of money.

Speak with a licensed financial advisor that understands your needs for information on growing your wealth.

 

Related Posts

Newsletter Weekly – Anticipating Retirement 1/10/14

Newsletter Weekly – Anticipating Retirement 1/10/14

Anticipating Retirement There is one question that stands out in the minds of every single person anticipating retirement – Will I Have Enough Money to Manage My Expenses and Maintain My Life Style? Retirement is…

Read More


Medicare Myth

Medicare Myth

What Medicare Myths Federal and Postal employees and retirees should be aware of how to find the truth


Weekly Newsletter – Taking the Fear Out of Federal Retirement

Weekly Newsletter – Taking the Fear Out of Federal Retirement

I started doing retirement seminars Many years ago when I started doing retirement seminars for federal employees in the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS), I thought it would…

Read More