Things are a changing over at the TSP. Whether it is temporary due to the Coronavirus or permanent to make the TSP more competitive to civilian retirement account options, there are more options for you and your TSP investment.
Can You Do It?
As 2020 comes at us quickly, here are a couple year-end tax tips you will want to review before the ball drops!
Hopefully, if you are eligible for the TSP, you are taking advantage of all the benefits available to you. Low fees, professionally managed funds, and new withdrawal rules aimed at giving you flexibility when taking your money out of your account are three main benefits to the TSP. When contributing, you also need to be aware of the options available to you to maximize the tax efficiency and amount you are contributing. Take a few minutes today to get to kno
What is your gameplan for "winning" the retirement savings game? Contact us today for a free consultation on where you are at and what we can do to help you get to where you want to be.
Federal Service employees, who also serve in the military, have access to some benefits with regards to the Thrift Savings Plan (TSP) that can apply if the employee is required to leave their Federal job to perform military service. This article will highlight the eligibility requirements, rules, and provide some examples to help you determine if this is a benefit that you can take advantage of.
Filing for Social Security and starting to receive your benefits can be a stressful decision for people to make. One of the rules that taxpayers need to be aware of when choosing to decide when to file for their benefit is the Earnings Test. This article will discuss the Earnings Test and provide some examples to help illustrate how the rule works and give you an idea of whether it will impact you or not.
Changes are coming to the Thrift Savings Plan and that is a good thing! Whenever I talk to someone with a TSP account, they are usually pretty positive with the exception of one area, withdrawals. The TSP is behind most other defined contribution plans with regards to flexibility in withdrawal options. Luckily the Thrift Savings Board recognized this and forwarded some proposed changes to Congress and in 2017 the TSP Modernization A
Financial planners and the services they offer continue to evolve. In the current financial planning environment, there are three main ways a financial advisor gets paid. They can be paid a commission on a product they sell; they can be paid a fee based on a percentage of the assets they are managing for you (referred to as Assets Under Management or AUM); or they can charge a fee for comprehensive financial planning. This last fee can be
Your Thrift Savings Plan account is an important part of your retirement income plan. As with most retirement accounts, a lot of the responsibility for success will be on you and how much time, energy, and of course money that you put in to making it successful. This article will provide some suggestions on what you can do on a yearly basis to put yourself in the best position to succeed.