[BPRICE1234]

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

[retiredguy123]

Not the TSP, but one thing I did was to deposit an amount equal to 10 percent of my entire career income (about $170K) into a "voluntary retirement account" just before retirement, and then transferred in into an IRA after retirement. That greatly increased my IRA balance that was able to grow tax deferred. It is a little known benefit that I think is only available to CSRS employees. Look it up.

[CarlR33]

I do not have a TSP (had to look it up) but with any type of plan you have an elective deferral limit of 23,5K (are you doing that), and then a 7,5K catch up and 11,2K higher catch up if your 60-63 years old (according to the internet). I would not depend on the interest making up (maximizing) for any late start but instead you should defer as much income as possible till retirement? My 2 cents.

[Topspinmo]

It’s been about 15 years since I was in thrift saving plan under furs retirement plan. IMO first make enough contributions (more if possible ) so you get maximum employer contributions. My last few year I was all in G fund which was no risk but minimum return. The stock market back 20 years ago was bouncing all over the place I didn’t want chance my money invested where I couldn’t have enough money to retire on when I turned 62. You have set goal more risk possible more return or little risk with smaller return. I my case we wasn’t too needy and live comfortably on modest income.

[retiredguy123]

I never used stocks in a tax deferred account because you get no benefit from the lower capital gains tax rates. I always deposited bonds in a tax deferred account and stocks in a non-tax deferred account.

[retiredguy123]

Another thing you can do is to front load your TSP contributions in the last year of work. So, you can contribute 100 percent of your salary in January and Februrary to the TSP, and then retire in March. So, you will have no taxable income in that final year.

[rsmurano]

The only way to make $$$ is to invest it, and that’s in stocks, and funds. The younger you are, the more risk you can take. I never never invested in bonds, and never will, I want to make $$$ not have my money just sitting around making nothing.
We invested 60% (at a minimum) of our income over the last 15 years of our careers, even when my wife retired at 53 and I retired at 61. Dollar cost averaging in good stocks and index funds are the way to make $$$$.

[Rocksnap]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

I had the 2 “riskier” plans. Was doing really well until it lost 25% quickly about little over 3 years ago. After that, I couldn’t yank my money out fast enough and moved it to a totally different investment broker. But I’m thinking it would probably those TSP funds will soon again do very well again, real soon.

[Bill14564]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

- Contribute the maximum each year which should also get any matching
- Contribute any "catch up" maximums you are eligible for also
- Learn how to take full advantage of matching funds, which could mean spreading contributions throughout the year (my matching was up to X% of my contribution each paycheck. If I hit my yearly maximum in July then I had no contributions in the last half of the year and therefore no matching the last half of the year)
- If you live in a state with state income tax, think hard before electing Roth contributions. If you convert funds to Roth after you've established residency in Florida then you won't have to pay state income tax
- If you can afford it, open another investment account and fund that too
- Live below your means. "If you have it you might as well spend it" is a recipe for never being able to retire.

[wawriwwawriw]

My wife last years she max out her contributions to include the additional $5,000 (I think) she was allowed. Research the allowable maximum amount you can contribute, this amount increases during the last few years.

[bmcgowan13]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

Lots of great advice above.

I was federal 34+ years. CSRS and later a TSP. When I retired and my wife and I were consolidating all our accounts our manager at Schwab was very impressed with the TSP performance--and low fees. Told me he really couldn't match it.

On a side note the GPO/WEP is set to be repealed within the week. For CSRS retirees with outside or pre/post retirement income it is great win for us. I was told for 40 years it would never be repealed. Don't forget to consider this in your plans.

WEP/GPO Repeal Has Retroactive Benefits

Welcome to the other side...

[Lisadiabb]

I have TSP and so far this year at 24% returns. I do move funds around based on the markets. I moved to G last week based on trends. There are some great Facebook pages to help with buy and hold or using strategies for growth.

[txfan]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

I’m very familiar. Max your deposits 50/50 in the C & S Funds. Make sure your balance is 100% in the two stock funds: 50% C & 50% S. Now, don’t look at it until you file for retirement.

There will be ups and downs, but your share numbers will only increase with each bi-weekly deposit. There share value will fluctuate here and there, but overall, you’ll be increasing shares and value. Stay out of the G & F until you retire, and even then some people keep a high percentage in the stock funds.

You only lose shares when you start taking withdrawals.

[sharonl7340]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

Contribute the max yearly (or as close as you can each year). Check your statement online every quarter to see your distribution and the return on investment for that quarter. Watch the markets regularly and redistribute accordingly, but don't panic if your high-risk investments show minor losses. You need to give it some time to see how it does in a year (unless you are bleeding investment during a quarter). If you are not familiar with the funds, get familiar with them to see which ones are low-risk, mid-risk, and high-risk, and only put the percentage of funds you can afford to lose in the high-risk funds.

You can lose lots of money in a short time, but you can make lots of money as well. You just need to be aware of what is happening in the stock market. If the bottom falls out, then change your redistribution accordingly.

You are in a long-term retirement strategy with a TSP, so use it to your advantage if you have 5-10 more years to contribute. Become intimately familiar with the funds and how they will work for you. Use all the tools on the TSP website to help you.

[nn0wheremann]

Originally Posted by BPRICE1234

My TSP account is doing well but unfortunately I got a really late start. Maybe 5 to 10 years left to work. Simply looking to maximize while I can afford to make up any losses.

Make the maximum contribution you can while you are working, keep it in the fund that is earning the most, and use your fund switching facility if needed.