Kelly Fasterling has worked for many years to help people achieve their financial freedom goals. As an independent financial advisor, she educates clients at or near retirement on strategies to position their assets to maximize benefits and create peace of mind.
The Thrift Savings Plan (TSP) is in many ways similar to the ever-popular 401K plans offered by employers for many civilian jobs. However, it is actually superior in many ways. The Thrift Savings Plan is an excellent way for income to develop tax-deferred, much like the 401k. There are no management fees, unlike other plans, and TSP contributions trim down taxable income.
The TSP has proven to hold a strong performance record over the years. The most significant possible advantage of the TSP is that the government can match a soldier’s contribution, up to five percent. The Thrift Savings Plan can also be modified to meet each soldier’s individual needs.
You can speak with a Personal Financial Manager at Army Community Service for more information. They can help you choose where your TSP funds will be invested. For more helpful tips and resources on the Thrift Savings Plan, you can visit Military.com and check out the TSP section.
We also recommend reaching out to a financial advisor in your area in order to assist you and help you make the best possible decision for your own unique needs.