Calculator
Moderator: Aitrus
Calculator
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!
Cheers!
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!
Cheers!
Cheers!
Current Strat: Loosely following 152300 and 85660 more the former rather than the later
Current PIP: 24.04
Current Strat: Loosely following 152300 and 85660 more the former rather than the later
Current PIP: 24.04
Re: Calculator
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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"It's not what happens to you, but how you react to it that matters" Epictetus
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
Re: Calculator
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!
Cheers!
Current Strat: Loosely following 152300 and 85660 more the former rather than the later
Current PIP: 24.04
Current Strat: Loosely following 152300 and 85660 more the former rather than the later
Current PIP: 24.04
-
- Posts: 573
- Joined: Thu Jan 18, 2018 12:01 pm
Re: Calculator
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
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
Moneys’ Money Making Money (4M)
- Scarfinger
- Posts: 810
- Joined: Mon Jan 30, 2012 12:00 am
Re: Calculator
I use 1% also for pay raises but I am topped out, GS7 step 10.Chulke wrote:Yeah....I do the same thing!...I figured there wasn't one to speak of...but it would be kinda cool!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.
Cheers!
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 am just an average Joe. I have no clue to what the market will do.
Paul Merriman 2 fund strat: (age - 25) x2.5 = TDF + balance into S fund or variation ofTimboSlice wrote: "People really need to stop overthinking this."
Re: Calculator
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.Scarfinger wrote:I use 1% also for pay raises but I am topped out, GS7 step 10.Chulke wrote:Yeah....I do the same thing!...I figured there wasn't one to speak of...but it would be kinda cool!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.
Cheers!
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.
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
Re: Calculator
I use the TSP calculator in my agency's Government Retirement & Benefits (GRB) system to project future balances. It works pretty well too.
Re: Calculator
When you retire it doesn't work very well. I need a calculator that won't factor the raise, or match.
- Scarfinger
- Posts: 810
- Joined: Mon Jan 30, 2012 12:00 am
Re: Calculator
Just use the TSP payment and annuity calculator. It only ask for expected, Assumed annual earnings rate. That should work.Scorpio70 wrote:When you retire it doesn't work very well. I need a calculator that won't factor the raise, or match.
I am just an average Joe. I have no clue to what the market will do.
Paul Merriman 2 fund strat: (age - 25) x2.5 = TDF + balance into S fund or variation ofTimboSlice wrote: "People really need to stop overthinking this."
Re: Calculator
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
Fund Prices2024-03-27
Fund | Price | Day | YTD |
G | $18.14 | 0.01% | 1.00% |
F | $19.09 | 0.26% | -0.68% |
C | $82.11 | 0.87% | 10.42% |
S | $82.19 | 1.48% | 6.61% |
I | $42.68 | 0.56% | 6.21% |
L2065 | $16.38 | 0.84% | 8.36% |
L2060 | $16.38 | 0.84% | 8.36% |
L2055 | $16.39 | 0.84% | 8.36% |
L2050 | $32.73 | 0.71% | 6.94% |
L2045 | $14.91 | 0.67% | 6.56% |
L2040 | $54.37 | 0.63% | 6.20% |
L2035 | $14.34 | 0.58% | 5.77% |
L2030 | $47.66 | 0.53% | 5.35% |
L2025 | $13.14 | 0.31% | 3.40% |
Linc | $25.60 | 0.24% | 2.79% |