Calculator

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Chulke
Posts: 302
Joined: Thu Aug 01, 2013 10:25 am

Calculator

Post by Chulke »

So....I was utilizing the "How much will my savings grow?" calculator on the TSP.gov site and realized that while it gives you a place to estimate your expected annual pay increase, it does NOT give you a place to enter expected step increases in your current position....

So it got me to wondering if anyone has found a calculator that does?

For instance, I'm a GS-11 Step 2, Due to move up to Step 3 this March...That equates to a bit over $2K per year salary increase....I'm on pay scale 999B....so that would be highly beneficial for calculating potential retirement savings! Or just make it nice to dream more on! lol!



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Aitrus
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Re: Calculator

Post by Aitrus »

When I use the calculator, I just put in 1% expected pay increase. That way I'm low-balling my estimates, which gives me an added measure of safety. I don't know of any calculator that accounts for step increases.
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Chulke
Posts: 302
Joined: Thu Aug 01, 2013 10:25 am

Re: Calculator

Post by Chulke »

Aitrus wrote:When I use the calculator, I just put in 1% expected pay increase. That way I'm low-balling my estimates, which gives me an added measure of safety. I don't know of any calculator that accounts for step increases.

Yeah....I do the same thing!...I figured there wasn't one to speak of...but it would be kinda cool!



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ProduceMan
Posts: 506
Joined: Thu Jan 18, 2018 12:01 pm

Re: Calculator

Post by ProduceMan »

Or you could somehow just combine the expected step increases and pay raise.

Example- for 2021 your step increase is 3.22....% with the 1.....% raise
(which is factored into the step increase).

Then you’d have to consider the waiting periods between steps
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Scarfinger
Posts: 615
Joined: Mon Jan 30, 2012 12:00 am

Re: Calculator

Post by Scarfinger »

Chulke wrote:
Aitrus wrote:When I use the calculator, I just put in 1% expected pay increase. That way I'm low-balling my estimates, which gives me an added measure of safety. I don't know of any calculator that accounts for step increases.
Yeah....I do the same thing!...I figured there wasn't one to speak of...but it would be kinda cool!

Cheers!
I use 1% also for pay raises but I am topped out, GS7 step 10.

You are probably just going to have to recalculate after step increases.

PS: It isn't like you were never going to run the numbers again. :) This will give you another variable to calculate and recalculate. :)
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Bubba
Posts: 165
Joined: Thu Mar 05, 2020 3:40 am

Re: Calculator

Post by Bubba »

Scarfinger wrote:
Chulke wrote:
Aitrus wrote:When I use the calculator, I just put in 1% expected pay increase. That way I'm low-balling my estimates, which gives me an added measure of safety. I don't know of any calculator that accounts for step increases.
Yeah....I do the same thing!...I figured there wasn't one to speak of...but it would be kinda cool!

Cheers!
I use 1% also for pay raises but I am topped out, GS7 step 10.

You are probably just going to have to recalculate after step increases.

PS: It isn't like you were never going to run the numbers again. :) This will give you another variable to calculate and recalculate. :)
I usually stick with 2%, but that's because I'm estimating over a 20 year period. That doesn't include in grade step changes, but in my case, there will be very few as I'm close to the end of all possible salary increases.

My suggestion is to stick with something like 1 or 2% and if things change, then just update afterwards. You have to remember that there are many things that could change over time.

Best,

Bubbster

23V23C
Posts: 55
Joined: Sun Sep 24, 2017 2:13 pm

Re: Calculator

Post by 23V23C »

I use the TSP calculator in my agency's Government Retirement & Benefits (GRB) system to project future balances. It works pretty well too.

Scorpio70
Posts: 432
Joined: Thu Dec 24, 2015 11:49 am

Re: Calculator

Post by Scorpio70 »

When you retire it doesn't work very well. I need a calculator that won't factor the raise, or match.

Scarfinger
Posts: 615
Joined: Mon Jan 30, 2012 12:00 am

Re: Calculator

Post by Scarfinger »

Scorpio70 wrote:When you retire it doesn't work very well. I need a calculator that won't factor the raise, or match.
Just use the TSP payment and annuity calculator. It only ask for expected, Assumed annual earnings rate. That should work.
I am just an average Joe. I have no clue to what the market will do.
TimboSlice wrote: "People really need to stop overthinking this."
Following Daily Seasonal # 139921 as a general guideline.

anomadtoo
Posts: 45
Joined: Thu Jun 13, 2013 10:23 am

Re: Calculator

Post by anomadtoo »

I like the calc on here; the TSP Projection Calculator; it works nicely with all the input variables; pretty much the same one you are seeing on the .gov site I'd imagine

Scorpio70
Posts: 432
Joined: Thu Dec 24, 2015 11:49 am

Re: Calculator

Post by Scorpio70 »

ok

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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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