Great info. Thanks for sharing! I hope we get many years of Guaranteed 10% returns. When dips happen it makes it a little hard to stay on track since the 10% doesn’t compound those years of losses. Still, the strategies are sound. Looking forward to being set up for success. Thanks again! 👍🏿
@ *Ian* Legacy offers much better pension plan but that requires you to actually reach retirement which many service personnel don't. Option for Legacy option ended several years ago as new enlistees are BRS.
Nice video: I believe you can only contribute to a Roth IRA, after Govt. Service, if you also have 'earned income' (i.e. you are working after govt. service). For most people, 1. fill up your matching TSP contribution 5%, 2. Save the max in a Roth IRA then 3. fill up the rest of your TSP as you can afford. This will likely provide the most benefit for when you retire.
@ 10:45 You're correct as he neglected to mention needing earned income [or spouse with job] to contribute to Roth IRA after leaving GOV service. 10% return overly optimistic too.
Hey quick question sir. Okay so if you do 20 yrs of service that's 40% of your base pay. (I get that) But for the second example when you do 24yrs of service , why is it also 40% of your base pay if your doing an extra 4yrs?
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Great info. Thanks for sharing! I hope we get many years of Guaranteed 10% returns. When dips happen it makes it a little hard to stay on track since the 10% doesn’t compound those years of losses.
Still, the strategies are sound. Looking forward to being set up for success. Thanks again! 👍🏿
Best of luck to you!
Good morning where you in the military and if so how do I get my TSP from when I was in the military?
Retire military, 12 years FERS, and a 70% disability. Not a bad deal.
I also work for VA I been there 6 years how do I go about retiring from VA since I haven’t been there the full 20 years?
Legacy vs BRS which is better
It’s too late to choose now it’s all BRS
@ *Ian* Legacy offers much better pension plan but that requires you to actually reach retirement which many service personnel don't. Option for Legacy option ended several years ago as new enlistees are BRS.
California CALPERS-law enforcement-30 years -average $100 K USD plus COLA for life
Nice video: I believe you can only contribute to a Roth IRA, after Govt. Service, if you also have 'earned income' (i.e. you are working after govt. service). For most people, 1. fill up your matching TSP contribution 5%, 2. Save the max in a Roth IRA then 3. fill up the rest of your TSP as you can afford. This will likely provide the most benefit for when you retire.
@ 10:45 You're correct as he neglected to mention needing earned income [or spouse with job] to contribute to Roth IRA after leaving GOV service. 10% return overly optimistic too.
Hey quick question sir.
Okay so if you do 20 yrs of service that's 40% of your base pay. (I get that)
But for the second example when you do 24yrs of service , why is it also 40% of your base pay if your doing an extra 4yrs?
So anything above 20yrs , you add an extra 2% for each year over the 20. Correct ?
GRB Platform for FERS employees. Thank me later!!!!