New federal employee

General TSP Discussion.

Moderator: Aitrus

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brandon16
Posts: 4
Joined: Wed Apr 26, 2017 1:11 pm

New federal employee

Post by brandon16 »

Hey all!

My name is Brandon, I am 24 years old and have been serving in the Air Force National Guard for the past four years (I have had a Uniformed Services TSP for the last three years). I recently was hired as a full-time technician for the National Guard and am doing very well for myself. Bought my first home two years ago and I am focusing heavily on a successful retirement. Currently contributing 20% to my TSP for this new job and putting the maximum of my National Guard pay into my Uniformed Services TSP.

I recently came across this site and found it to be a wealth of knowledge. I am particularly interested in the Seasonal Mixes and have started reallocating my contributions.

Thanks for providing this excellent information!!!

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: New federal employee

Post by evilanne »

Welcome aboard Brandon! You are off to an excellent start...good luck in your investments.

cb3
Posts: 41
Joined: Mon Feb 08, 2016 12:48 pm

Re: New federal employee

Post by cb3 »

Welcome Brandon. If you're making minimum payments on you're house I would recommend you look at what you can save by making principal only payments on top of your current mortgage. It's amazing how much money you have to invest if your house and car are paid off.

brandon16
Posts: 4
Joined: Wed Apr 26, 2017 1:11 pm

Re: New federal employee

Post by brandon16 »

Thanks!

cb3, after this year I am looking into making an extra month's payment each year in hopes to cut the 30yr mortgage into something like...19.

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mjedlin66
Site Admin
Posts: 1569
Joined: Wed Oct 02, 2013 7:51 pm

Re: New federal employee

Post by mjedlin66 »

If your mortgage rate is less than 5%, then I recommend investing the extra money rather than paying extra principal.

If your mortgage rate is over 5%, then I recommend you refinance into a 15 year mortgage post haste.
Owner/creator of TSPcalc.com - "Know your numbers"

crondanet5
Posts: 4330
Joined: Tue Aug 19, 2008 8:51 pm

Re: New federal employee

Post by crondanet5 »

If you want a great retirement read Mr. Money Moustache.com.

And pay off your mortgage as quick as you can.

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Aitrus
Moderator
Posts: 2391
Joined: Mon Aug 06, 2012 5:03 pm

Re: New federal employee

Post by Aitrus »

Welcome, brandon!

I'm a Guard guy myself, and civil service during the month (not in a technician position). It's good to see more of us here.

It sounds like you're off to a really good start. I agree with others - read Mr. Money Moustache. Good stuff. And getting debt free, including the house, is important in preparing for retirement. It's awesome that you're thinking about this stuff now when you're 24. You've got some huge potential for wealth building. I'm 37 and I started seriously looking at my finances when I was about your age, and haven't regretted doing so for a single moment.

Lots of knowledgeable folks on here. Feel free to ask questions, you'll get your answers.
Seasonal Musings 2022: viewtopic.php?f=14&t=19005
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus

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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%

Live Charts

Pending Allocations

Under development. For now, you may view Pending Allocations by going to "fantasy TSP" and selecting "Leaderboard sort" of "Pending Allocations".