TSP $2 Millionaire

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searight
Posts: 81
Joined: Wed Jan 16, 2013 8:56 am

TSP $2 Millionaire

Post by searight »

Interesting article, what is sad is "About 2% of the 75,000-plus people have become TSP millionaires in the course of their federal service."
https://federalnewsnetwork.com/mike-cau ... llion-man/

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bloobs
Posts: 1067
Joined: Tue May 21, 2019 8:00 pm

Re: TSP $2 Millionaire

Post by bloobs »

Below is what comes to mind when I read "$2 Millionnaire"

Image

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TopNotch
Posts: 219
Joined: Mon Apr 15, 2013 12:38 pm

Re: TSP $2 Millionaire

Post by TopNotch »

Myths 4 and 5 listed in the article :roll: (You must invest in the C, S and I Funds; You must time the market with interfund transfers) go against the spirit of TSP Center!
David Tepper - "There is a time to make money and a time to not lose money."

Warren Buffett - "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."

Bubba
Posts: 165
Joined: Thu Mar 05, 2020 3:40 am

Re: TSP $2 Millionaire

Post by Bubba »

bloobs wrote:Below is what comes to mind when I read "$2 Millionnaire"

Image
I've got another 20 years...at least before the big R so I'm not sure that $2 mil will mean that much then. Of course, with TSPCalc's strats maybe we'll all get there faster?

Personally I'm stoked for the mutual fund window, but the TSP tends to disappoint me, so we'll see.

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dougellen1
Posts: 123
Joined: Thu Mar 08, 2012 12:41 pm

Re: TSP $2 Millionaire

Post by dougellen1 »

The initial statement is incorrect. 75000 people is the answer to the question. It's actually ~2% of 4.5 million people that becomes millionaires. Causey needs an editor.

haywoodkb
Posts: 67
Joined: Mon Aug 18, 2014 9:53 am

Re: TSP $2 Millionaire

Post by haywoodkb »

There is an OPM report with similar figures. Only about 2% of total TSP participants have reached the million dollar level. The TSP has approximately 5.9 million participants, both active and retired. The participation rate is 88.5%, although 40% are only investing in the G fund. The largest individual TSP account balance is about $8.8 million.

wingchaser
Posts: 122
Joined: Thu Jan 22, 2009 8:39 am

Re: TSP $2 Millionaire

Post by wingchaser »

Bubba wrote:
bloobs wrote:Below is what comes to mind when I read "$2 Millionnaire"

Image
...but the TSP tends to disappoint me, so we'll see.
Year-in & year-out, even in DOWN YEARS, the leaders in this Fantasy Wen Site outperform the markets, with the Top 10 consistently earning 20-30% (or more). Why I’m not one of them, might be a deeper Psychological Study (on my part)...

Best of Luck (everyone) in all you choose to endeavor!!!
“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t... pays it.” ~ Albert Einstein

searight
Posts: 81
Joined: Wed Jan 16, 2013 8:56 am

Re: TSP $2 Millionaire

Post by searight »

haywoodkb wrote:There is an OPM report with similar figures. Only about 2% of total TSP participants have reached the million dollar level. The TSP has approximately 5.9 million participants, both active and retired. The participation rate is 88.5%, although 40% are only investing in the G fund. The largest individual TSP account balance is about $8.8 million.
I wasn't sure if he was saying that 2% of TSP members are at $1M or more and 2% of the 75,000 that are millionaires got it solely as government employees. The reason I question it is that several years ago there was an article that said that the highest TSP balances were from people who moved fat 401K's into the TSP and that the top of that group were political appointees and wealthy lawyers who became judges. So many of the current millionaires are 401K transfers. But if somebody put in close to the max since 1991 and stayed relatively aggressive they should be over $1M also.

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Fund Prices2021-04-16

FundPriceDayYTD
G $16.56 0.00% 0.34%
F $20.66 -0.21% -2.53%
C $62.57 0.36% 11.92%
S $83.28 -0.04% 12.24%
I $38.19 0.63% 7.92%
L2065 $13.71 0.39% 10.49%
L2060 $13.71 0.39% 10.49%
L2055 $13.71 0.39% 10.49%
L2050 $27.99 0.31% 8.45%
L2045 $12.79 0.29% 7.92%
L2040 $46.72 0.27% 7.42%
L2035 $12.36 0.25% 6.82%
L2030 $41.20 0.23% 6.25%
L2025 $11.71 0.18% 4.93%
Linc $22.82 0.08% 2.45%

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