Your savings inside of the Thrift Savings Plan that you worked so hard throughout your federal career to accumulate are a large component of providing income in retirement. It is important, therefore, to make sure you make the right choices with regards to preserving these funds. The author provides some advice for federal employees on different ways to determine what constitutes good and bad advice as it relates to their savings inside of the TSP.
How much can you contribute to your IRA in 2016? Can you contribute to both your IRA and TSP accounts?
The Internal Revenue Service has announced the annual contribution limits for the Thrift Savings Plan and other similar retirement/pension plan contributions for 2016, most of which are unchanged from 2015.
In the third article in his series on federal retirement, FedSmith.com author Randy Silvey addresses one of the most common questions he has received from FedSmith.com users: “Should I roll my TSP over to an IRA after leaving federal service?”
What is Dave Ramsey’s advice about doing a TSP rollover to an IRA after retirement?
The author says that you do not want to retire too soon and risk financial ruin in your Golden Years, but you also do not want to wait until too late to retire.
There are three different types of IRAs, and the author explains the differences between each as well as what the requirements are for investing in them.
The CSRS Voluntary Contribution Program has been available to CSRS or CSRS Offset federal employees for many years. It can be a very useful option to significantly increase retirement savings. The author explains some of the details of this program.
IRAs are turning 40. The author provides some of the history and benefits of the IRA.