How to Contribute MORE Into the TSP

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[@reidloscidem3562]

Little by little everyone. For all my colleagues who are with me in the lower end of the pay wage spectrum, slowly add more where you can. If you want to retire for the federal government, your TSP is the ONLY part of your retirement that you can completely control. Your pension will be based on your high three with multiplier (if applicable), and social security (if it even survives the next 10 years).

[@cyncity6873]

As soon as i turned 50, i maxed out and added catchup contributions!

[@Just_Stevo]

41 and maxing out the TSP. I'm a WG employee.

[@jeffpadilla9891]

I increased to 24% a total of 29% with my match.

[@zenawarrior7442]

Nice, great to know this. Thanks!💰

[@barrybanks4906]

Can you talk about why Roth TSP keeps you away from IRMAA.

[@Royale_with_Cheeze]

A little perspective on the C Fund:

[@MacJosh812]

So based on your great presentation, if I max out the Roth TSP (7,000), but haven’t achieved the $23,000 overall max, can I still put the remaining $6,000 in the Roth or do I have to put it in the traditional?

[@casan41662]

I will be 63 on January 2025, but turn 64 in February. Would I still qualify?

[@K5Adventures]

Is there somewhere I can lookup % of feds maxing out their TSP and at what age?

[@Mc.flyyy11]

Whats ur thoughts on maxing TSP....getting a large tax return check each year and investing that into roth IRA?

[@chrisfauver]

You may have already answered this, but I am mostly in S fund and want to move it all to C. Is there a better time or method to do this? Thx

[@superlamb6395]

Do the amounts shown include the employer match?

[@charleshadley8604]

Hello, You said that you can either put the whole amount in either Roth or traditional. Does that mean I can put the 5% to get my match in traditionl and say 25,000 into the Roth?? I thought only 7500 was max for the Roth?

[@chadvetter8190]

When does it make sense, if at all to take a loan against your tsp to pay off your house?

[@deborahanderson4211]

If I decide to retire in two to three years, is it possible for me to switch to the C fund? I've been in the G fund for a long time.

[@pattyk8594]

Another great video thank you! Do you think this new catch up amount in 2025 will be for every year after or is it just for 2025?

[@drmitofit2673]

The catch-up plan is a tax loophole for high salary employees such as federal physicians like me, who can afford to contribute above the $23,000 limit to get the tax deferred investment benefits. The nurses and techs I talked to about the catch-up plan couldn't afford to do this. A doctor with kids couldn't afford the catch-up contributions. Another problem with catch-up plan is that it won't be in your TSP long enough to get significant compounding interest growth by the time you retire. However, it might be good if you keep your TSP in growth funds 10-20 years after retirement. He should explain why money you contribute early when young is much more important than the few years before you retire. If you can possibly roll-in a 401k from a previous job so you don't start at zero, you'll be miles ahead. Also, encourage your spouse to work full time with an employer matching 401k and a state or federal pension plan.