Hello from Philly!

General TSP Discussion.

Moderator: Aitrus

drifter81
Posts: 24
Joined: Sun Dec 29, 2013 3:50 pm

Re: Hello from Philly!

Post by drifter81 »

I also live here and will eventually flee this tax crazy place. I enjoy Philly, but it just ain't worth it.

korvinski
Posts: 12
Joined: Sun Aug 27, 2017 9:05 pm

Re: Hello from Philly!

Post by korvinski »

Florida bound when retirement comes!

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Sarewy
Posts: 15
Joined: Fri Jul 07, 2017 2:29 pm

Re: Hello from Philly!

Post by Sarewy »

klee wrote:
Sarewy wrote:
mmmmmbeer wrote:Welcome brother and good luck!
Thanks mmmmmbeer! Just a note... it’s sister not brother :)
I thought to myself, mmmmmbeer is really good! He is usually right 99.9%. Welcome sister! What's your profile pic?
It is the Pennsylvania Flag!
Strategy: 16517 (since Oct 2017)
Allocation: 100% F
Current PIP: 15.46%
Previous PIP: 14.08%

User avatar
Sarewy
Posts: 15
Joined: Fri Jul 07, 2017 2:29 pm

Re: Hello from Philly!

Post by Sarewy »

SpeedDemon wrote:Welcome and good luck. You have enough years left to become a TSP multi-millionaire.
That's the plan!!
Strategy: 16517 (since Oct 2017)
Allocation: 100% F
Current PIP: 15.46%
Previous PIP: 14.08%

User avatar
Sarewy
Posts: 15
Joined: Fri Jul 07, 2017 2:29 pm

Re: Hello from Philly!

Post by Sarewy »

crondanet5 wrote:Do you go to the flower show rated best in the world?
I moved to Philly about 6.5 years ago from Michigan so I haven't see everything yet. I have heard of the flower show several times but haven't made it there yet. Maybe next year!
Strategy: 16517 (since Oct 2017)
Allocation: 100% F
Current PIP: 15.46%
Previous PIP: 14.08%

User avatar
Sarewy
Posts: 15
Joined: Fri Jul 07, 2017 2:29 pm

Re: Hello from Philly!

Post by Sarewy »

NotSoGood wrote:Sareway, you raise a very important issue: In my experience in government, many of the employees I supervised didn't even take advantage of the matching funds. But, maybe even more importantly, MOST of them did not manage their TSP very carefully. I would venture to guess the vast majority stuck their funds into G and forgot about them...losing out on tens...and probably hundreds of thousands of dollars. I wished I had taken my TSP more seriously and paid a lot more attention. Good for you for realizing this now. And like SpeedDemon said: You have plenty of time left to be a millionarie. Keep up the good work you've started!!
After discovering this for myself, I have been an advocate to talking to people about their TSP. Just even enough to put the idea in their head that they should look at it. We have had several new employees that didn't even know that they got matching funds which is nuts.

I actually just had a new girl start next to me and got her looking at her TSP. Back when I started everything just automatically went into the G Fund and I didn't know to look at it nor did I know to take advantage of matching contributions. When we got her into her account, it looks like they are automatically enrolling new hires with a 3% being put into the correct Lifecycle Fund for their age. At least the new hires are getting a little help starting out.

I always say that there should be a beginning career retirement seminar for new/semi-new hires. They seem to have mid and ready to retire seminars but completely forget about how important it is at the beginning of your career to think about retirement!
Strategy: 16517 (since Oct 2017)
Allocation: 100% F
Current PIP: 15.46%
Previous PIP: 14.08%

User avatar
Sarewy
Posts: 15
Joined: Fri Jul 07, 2017 2:29 pm

Re: Hello from Philly!

Post by Sarewy »

drifter81 wrote:I also live here and will eventually flee this tax crazy place. I enjoy Philly, but it just ain't worth it.
At least we won't have state tax on our pensions! I moved from Michigan about 6.5 years ago to Philly and I don't think I'll ever leave. The taxes can be a nightmare but I really love this city!
Strategy: 16517 (since Oct 2017)
Allocation: 100% F
Current PIP: 15.46%
Previous PIP: 14.08%

NotSoGood
Posts: 84
Joined: Fri Mar 07, 2008 3:33 pm

Re: Hello from Philly!

Post by NotSoGood »

Sarewy wrote: I always say that there should be a beginning career retirement seminar for new/semi-new hires. They seem to have mid and ready to retire seminars but completely forget about how important it is at the beginning of your career to think about retirement!
Good work helping new employees. I, too, tried to encourage my subordinates to take full advantage of the matching funds and to be vigilant and consciously manage their TSP account.

Also, couldn't agree with you more: I thought it was stupid that the organization I retired from wouldn't let anyone who had more than 5 years left to retire attend the retirement seminars. You are exactly right: The retirement seminars should be given much earlier in the careers of employees. THAT is when important decisions are being made and awareness/education is needed.

User avatar
hytid
Posts: 42
Joined: Fri Dec 02, 2016 9:01 am

Re: Hello from Philly!

Post by hytid »

Sarewy wrote:
NotSoGood wrote:Sareway, you raise a very important issue: In my experience in government, many of the employees I supervised didn't even take advantage of the matching funds. But, maybe even more importantly, MOST of them did not manage their TSP very carefully. I would venture to guess the vast majority stuck their funds into G and forgot about them...losing out on tens...and probably hundreds of thousands of dollars. I wished I had taken my TSP more seriously and paid a lot more attention. Good for you for realizing this now. And like SpeedDemon said: You have plenty of time left to be a millionarie. Keep up the good work you've started!!
After discovering this for myself, I have been an advocate to talking to people about their TSP. Just even enough to put the idea in their head that they should look at it. We have had several new employees that didn't even know that they got matching funds which is nuts.

I actually just had a new girl start next to me and got her looking at her TSP. Back when I started everything just automatically went into the G Fund and I didn't know to look at it nor did I know to take advantage of matching contributions. When we got her into her account, it looks like they are automatically enrolling new hires with a 3% being put into the correct Lifecycle Fund for their age. At least the new hires are getting a little help starting out.

I always say that there should be a beginning career retirement seminar for new/semi-new hires. They seem to have mid and ready to retire seminars but completely forget about how important it is at the beginning of your career to think about retirement!
Completely agree with you. I started my fed career three years ago and was fortunate enough to be placed in a cube next to someone nearing retirement. He introduced me to everything that most of us here already know, and I have done my best to pass it on along the way.

My goal is $20m by 70.

Good luck and godspeed.

wolverine
Posts: 1
Joined: Wed Oct 04, 2017 11:12 am

Re: Hello from Philly!

Post by wolverine »

I'm out in CA, but pretty much in the same exact boat. Started in 08, all in G with full matching, early this year I switched into other funds and was running ~12% I think, and now I am following one of the plans starting a month ago.

Several of us in the office have decided we will follow the same plan for a year and see how it goes. I found out now that since the L20xx funds came along they start new hires in them instead of G.

drifter81
Posts: 24
Joined: Sun Dec 29, 2013 3:50 pm

Re: Hello from Philly!

Post by drifter81 »

Sarewy wrote:
drifter81 wrote:I also live here and will eventually flee this tax crazy place. I enjoy Philly, but it just ain't worth it.
At least we won't have state tax on our pensions! I moved from Michigan about 6.5 years ago to Philly and I don't think I'll ever leave. The taxes can be a nightmare but I really love this city!
Yeah, but I have roughly 18 years until retirement. I like the city life, but I'm looking to land another federal job elsewhere because I just can't fathom the taxes here, especially after having spent a number of years overseas not having to pay state and local tax. Tax wise, Philly doesn't encourage working people to stay. And with the state of it's infrastructure I am often left wondering where all those tax dollars are going.

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Fund Prices2024-03-28

FundPriceDayYTD
G $18.15 0.05% 1.05%
F $19.08 -0.06% -0.74%
C $82.21 0.11% 10.55%
S $82.43 0.30% 6.92%
I $42.57 -0.24% 5.95%
L2065 $16.38 0.02% 8.37%
L2060 $16.39 0.02% 8.38%
L2055 $16.39 0.02% 8.38%
L2050 $32.73 0.01% 6.95%
L2045 $14.91 0.02% 6.58%
L2040 $54.38 0.02% 6.22%
L2035 $14.34 0.02% 5.79%
L2030 $47.67 0.02% 5.38%
L2025 $13.15 0.03% 3.43%
Linc $25.61 0.03% 2.82%

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