How do you compare to others at your station in life?

[RedWine]

Age: 48
Grade: GS-12
Years of Govt. Service: 23
Years to Retirement:8-10
TSP Contributions: $18k
TSP Balance: $395k
2016 PIP: 11.32%
2017 PIP YTD: 14.82%

Hoping to start catch up contributions at age 50. Learned a lot on this site so far and thinking about using a daily strategy soon.

[RedWine]

Just switched to S. Let's see if this train has any steam left.

[evilanne]

Good Luck RedWine. Have a strategy and maxing contributions will set you up to retire in style

[RedWine]

Yep. Been doing well but hoping this will give me a boost.

[RCTactical]

38yrs old
GS15
300k in TSP, started max contributions 2 years ago.
Min 20 years to retirement

Woof... holy smokes buddy. With the time you have left and the TSP balance you're sporting right now, you should probably change your name to RCRockafeller if you plan on following a daily or monthly mix. You're going to be in the multi millions said and done.

Ha! Thanks beer. I've been fortunate to follow good advice when I started my career. With the time I have left, I've decided to give the 7980 mix a go and see what happens. It's a little unnerving but I'm willing to accept the risk and see what's what. I'm super appreciative to the folks here for shedding some light on things and sharing information. If only I would've paid attention and learned more in the beginning... All in all, I'm confident I'll be just fine.

[TimboSlice]

Okay I'll play the game here. I'll also make it interesting!! All I've seen are GS and enlisted people here.

Age:37
Pay Grade:WG 08/05 Equipment Installer
Years of Service: 12
Year to Retirement: Shooting for 20 because that gives me MRA at 57 and I'll have 32 years
TSP Contributions: 5%
TSP Balance: $125k
Debt: Mortgage $120k 29 more years Auto $16k 5 years? Hopefully sooner than that

I don't have a goal at where I want my TSP. Just want to maximize it as much as possible when I get to my retirement. I normally have a pretty good return on the year, I think someone said that I've averaged 19% return over the last 4 years. I didn't really pay attention to TSP for my first 6 years of service. Wasn't in the G fund but didn't take it out of the market in 2008 and probably lost some. When I joined this site in 2012 I only had $35k in TSP and now I've got around $125k. Since joining this site and creating my own strategy I've made around $90k in about 4 1/2 years. With only contributing 5% (which about $100 per pay period) I'm pretty happy. This site helped me get started and now I hope with all that follow me I can help them. All of you GS folks here that make twice as much as me, you will be in great shape. I'm trying to get into the GS world but no luck yet, stuck doing manual labor for now. I would like to see 1 Million and if I keep going at the rate I am, I'm pretty sure I'll make it! Good luck to everyone

[felix]

Thank you and good luck!

[SeaWookie]

Age - 36
Salary - Navy E-7 (Sitting at 18 years waiting for 20.)
Current TSP - ~$100K
Contributions - 5%
Debt - None.
Investment Plan - Seasonal
Planned Retirement - About 24 years from now.

[Horaenaut]

Age:34
Pay Grade: GS 13/2 equivalent (legal analyst)
Years of Service: 11
Year to Retirement: 28? MRA at 57 but I expect to work to 62
TSP Contributions: This is my second year maxing (at 50% Roth, 50% Traditional), previously 7-8% (all traditional)
TSP Balance: $175k
Debt: $263k left on a 330K Mortgage with 13 more years; Auto $5k to be finished this year.

I made a lot of missteps early on in my career with my TSP (left it in G for the first few years, left it in L2050 for the next few years, only really started paying attention in the last two). Recognizing it is dangerous, I am now trying to time the market because so much of it seems news driven more than any usual seasonality.

My retirement planning is complicated by the fact that I am thinking about going back to school next year and would leave fed service with a plan to come back in 2023. My main goal currently is to get as much money into TSP as I can, recognizing I'm going to miss out on a few years. Trying to live frugally, pay down debts, and invest the rest.

[TSPBuilder]

Age: 58
Grade: Retired 2 years
Years of Govt. Service: 34
Years to Retirement:-2
TSP Contributions: $0
Approx. 10 years prior to retirement went to agency matching only and put approx. $10K/yr in individual investment account at ProFunds
TSP Balance on retirement: $404k (97% trad/3% Roth)
First retirement check took 5 months to arrive (takes normally 3 to 6mo). Make sure you have income for these months saved up (emergency fund or otherwise)
Pension: $3100/mo net. $250 for federal/state taxes and health insurance (my portion). Ex gets $1500.
1.5 years after retirement TSP balance at $425K: moved $300K to Trad IRA @ ProFunds and left balance in TSP to take monthly distribution if needed between ages 56 and 62. Haven't needed yet.
Future outlook: Heavily considering Backdoor Roth to convert up to 200K over next 5 years while tax bracket is low and Medicare calculation takes place between years 64 to 65. Supposedly my Medicare rates will get jacked up if I convert during that timespan and possibly beyond. If I'd done my homework sooner I would have put $100k into my TSP Roth. Ooops.

Kudo's on all of the previous posts! you all look like you are on target or better than. Keep up the good work. You will be there before you know it.

Live long and prosper! T

[TSPBuilder]

Okay I'll play the game here. I'll also make it interesting!! All I've seen are GS and enlisted people here.

Age:37
Pay Grade:WG 08/05 Equipment Installer
Years of Service: 12
Year to Retirement: Shooting for 20 because that gives me MRA at 57 and I'll have 32 years
TSP Contributions: 5%
TSP Balance: $125k
Debt: Mortgage $120k 29 more years Auto $16k 5 years? Hopefully sooner than that

I don't have a goal at where I want my TSP. Just want to maximize it as much as possible when I get to my retirement. I normally have a pretty good return on the year, I think someone said that I've averaged 19% return over the last 4 years. I didn't really pay attention to TSP for my first 6 years of service. Wasn't in the G fund but didn't take it out of the market in 2008 and probably lost some. When I joined this site in 2012 I only had $35k in TSP and now I've got around $125k. Since joining this site and creating my own strategy I've made around $90k in about 4 1/2 years. With only contributing 5% (which about $100 per pay period) I'm pretty happy. This site helped me get started and now I hope with all that follow me I can help them. All of you GS folks here that make twice as much as me, you will be in great shape. I'm trying to get into the GS world but no luck yet, stuck doing manual labor for now. I would like to see 1 Million and if I keep going at the rate I am, I'm pretty sure I'll make it! Good luck to everyone

You're not the only Wage Grade, TimboSlice I was an Elevator Mechanic for 18 years. Eight were WG before they converted my job to a GS-equivalent (GGE) to recruit and maintain a skilled workforce. Your time will come.

You are doing an awesome job with your account and should be proud. It really seems to take off after you hit $100K! Hang in there. T

[mmmmmbeer]

One of the guys in a different thread mentioned being curious as to how he compares with others in his same age, rank, years to retirement bracket. Are we behind our counterparts? Are ahead?

I'll admit I too am very curious because for most of my early career I didn't pay attention to TSP too much as I really didn't have much to put in.

And I think we can all start by saying we're hopefully adult enough that we're not looking for a big D contest here, but rather actual comparisons to see where we are for ourselves.

So I'll start....

Age: 41
GS salary level: 14/04 LEO, (15/06 Regular Equivalent)
Current TSP balance: 198,369.11
Number of Years until PLANNED retirement: 9 until eligible, 16 mandatory (dunno when I'll go quite honestly )

I do get the Social Sec kicker at 50 as well as now the eligibility to withdraw from TSP at 50 with no penalty.

Most of my early career was at a much lower GS scale and I didn't put much in at all, and really didn't think too long and hard about it as we were just trying to make it as a young family. My wife and I both now max contribute and hope it will be enough when it's all said and done.

The bankrate chart puts me somewhere around 700k at 52 years old if I can average 7%.

My youngest child will only be a sophomore in HS when I'm 1st eligible, so I don't know what I'll do. I may wait for her to graduate.

Alrighty boys... it sure has been a bit. I guess I'll UPDATE and we'll see how it's going?

Age: 44 (45 in 2 weeks)
GS salary level: 14/05 LEO, (15/06 Regular Equivalent)
Current TSP balance: 395,874.10
Number of Years until PLANNED retirement: 5 until eligible and I'm planning right now going when I'm 1st eligible 11/30/2024 probably.

So over the last few years, things have been doing okay. From my initial post on Sat Jul 09, 2016 (essentially 3y,3m ago) I've grown my TSP account from $198,369.11 --> $395,874.10! I'm pretty happy with that, and that's even with a negative rate of return I got last year. Essentially went backwards last year in 2018. I ended up -7% something for last year. Quite honestly I thought I was smarter than my Daily Seasonal Strategy and got off. If I would have stayed in, I would have gotten about 7% positive for the year. Oh well... can't cry over spilt milk. I'd say pretty much doubling my account in roughly 3 years is doing okay! If I can do that again I'd be mucho happy. I have 5 years left. I think I'm still very much on track to hit that $700k if I stay the course. Even more if I quite trying to second guess my strategy and stick with it.

[12squared]

So over the last few years, things have been doing okay. From my initial post on Sat Jul 09, 2016 (essentially 3y,3m ago) I've grown my TSP account from $198,369.11 --> $395,874.10! I'm pretty happy with that, and that's even with a negative rate of return I got last year. Essentially went backwards last year in 2018. I ended up -7% something for last year. Quite honestly I thought I was smarter than my Daily Seasonal Strategy and got off. If I would have stayed in, I would have gotten about 7% positive for the year. Oh well... can't cry over spilt milk. I'd say pretty much doubling my account in roughly 3 years is doing okay! If I can do that again I'd be mucho happy. I have 5 years left. I think I'm still very much on track to hit that $700k if I stay the course. Even more if I quite trying to second guess my strategy and stick with it.

That's way better than Buy & Hold. How much did you contribute over that time period?

In contrast, TSP fund market gains from 7/8/16 to 10/25/19 were:
G Fund 8.2%
F Fund 8.8%
C Fund 51.5%
S Fund 42.8%
I Fund 34.3%
L Income 15.3%
L 2020 21.3%
L 2030 30.5%
L 2040 34.6%
L 2050 38.5%

[mmmmmbeer]

That's way better than Buy & Hold. How much did you contribute over that time period?

Let's see, I started maxing out in July of 2017. So, roughly contributions plus matching in that time period was I bet 75k. That being said, I lost all -26k for contributions and match last year because of my sucking performance. So of my total "gain" I'd say about 1/4 of that $200k is contributions and match (roughly).

[wisepierre]

Age: 23
E-4 in the AF
TSP Balance: ~15k
Years until planned retirement: 43 years until age 67, but ideally retire late 30's/early 40's
Less than 2 years in the service

Currently putting in 55% of base pay into ROTH TSP, ~$1k a month. Effectively investing 31% of my total income, really want this to be bumped up closer to 40 -50%, once I've paid off some student loans and my $7k car loan

Guess I could update this.

Age: 28
E-5 in the ANG now (soon to be E-6)
TSP Balance: ~$55k, $50k cash/savings
Years until planned retirement: 39 years until age 67, but ideally retire late 30's/early 40's
6+ years in the service now

Left AD at my 3 year mark and joined the Air Guard. I've spent over a year activated for training and mission. I normally go to school full time during the school year and choose to be activated for the summer and winter breaks, which is great money. Still have my full 9/11 for school if I want to use it for a Master's. The state pays for my education right now because of my ANG service, which is super nice.

I came into a small windfall last year when a family member passed. I used part of it to pay off student loans and the rest is in cash (just been too lazy to open a brokerage).

I have no debt right now, and the only debt I see in the next 10 years is a mortgage. Monthly expenses are <$2k/month. Expected grad Spring 2021 with a degree in Engineering, and then my expected salary will be $60k+ until I've socked away enough money to FIRE (estimations are about 10-15 years, but could change with a marriage/kids).

Debating on whether to commission on AD or in the ANG or to just get out when my enlistment is up. I have lots of options open to me, which is a good problem to have!