If your TSP has millions of dollars already....

[John316]

The wisest man who ever lived said this - "Watch out! Be on your guard against all kinds of greed, a persons life does not consist in the abundance of the possessions they have." And again "This very night your life will be demanded of you: then who will get what you have prepared for yourself?"

Nothing wrong with getting that first million - just be on guard that it is not the ONLY thing you are trying to get. God bless everyone.

[Longstreet]

Daily all the way. By that point you should be making enough passive income off of it and used to living frugally (relatively at a GS salary). With that much coming in per year I'd say sock some away here and there along the way from the returns while growing your overall balance. Incredibly presumptuous of me at this point, but sometimes I like to imagine all of the people and places I'll be able to give back to that have helped me along the way while still ensuring we are living a very comfortable retirement.

[Cgatterson]

Keeping with the plan... because it's awesome getting an extra salary from the interest.

Ditto

[N10AU]

When you make the Million mark, nothing has really changed. You are still saving for retirement. When you get close to retirement then you should be looking at short term need and long term investing. You will not need all your TSP money immediately when you retire. Figure out what you will need in the next 5 years and put that in the G fund. The remainder should be viewed as a long term investment. Each year, you would need to adjust your balances. Say I thought I would need 30k a year in retirement. I would put 150K(30k year for 5 years) in the G fund and the remaining 850k, I would continue to invest. Now having said that, I have met the big M mark but I am mostly following the 7980 with my TSP money and am 20 months from retirement.

[mmmmmbeer]

When you make the Million mark, nothing has really changed. You are still saving for retirement. When you get close to retirement then you should be looking at short term need and long term investing. You will not need all your TSP money immediately when you retire. Figure out what you will need in the next 5 years and put that in the G fund. The remainder should be viewed as a long term investment. Each year, you would need to adjust your balances. Say I thought I would need 30k a year in retirement. I would put 150K(30k year for 5 years) in the G fund and the remaining 850k, I would continue to invest. Now having said that, I have met the big M mark but I am mostly following the 7980 with my TSP money and am 20 months from retirement.

Woooowww... the big M eh? Good for you man! We need to make a thread for our Millionaires Club... make a running list.

[Longstreet]

Woooowww... the big M eh? Good for you man! We need to make a thread for our Millionaires Club... make a running list.

Gimme bout 10 years.

[mmmmmbeer]

Woooowww... the big M eh? Good for you man! We need to make a thread for our Millionaires Club... make a running list.

Gimme bout 10 years.

Haha.. well he's the only one on here has let on be's made it. It's gonna be 6-8 years for me as well before I'm with him. It might be fun to ha e a list of the folks from this website thag have "made" it to the major goal most of us are striving for.

[mhayes]

Keep reading the threads mhayes, there is a lot to learn

Hint: You are going to have to get into the stock market at some point if you want any chance of reaching $1M

Yeah, the more I make, the more I spend. I'm good.

[kavic]

Yeah, the more I make, the more I spend. I'm good.

You and me both!!

Once you get in the club you don't want to lose your membership... and I don't plan on leaving again!