While there is a lot of interest in those who are self-made Thrift Savings Plan millionaires, the fact is most investors will never hit seven-figure status.
Thanks to the booming stock market the number of federal-postal workers with $1 million or more Thrift Savings Plan accounts jumped to 49,620 at the end of 2019.
Mike Causey asked Abraham Grungold, a 34-year civil servant, why so many TSP investors have account balances that are so relatively small?
Just about everybody knows the stock market is long overdue for a correction of 20% or more — maybe a lot more.
Fans of the Thrift Savings Plan hope new withdrawal rules encourage more people to stick with it when they move to another job or retire.
A growing number of Thrift Savings Plan investors are nervously wondering how much longer the current bull market will last, and can last.
Last month the Thrift Savings Plan implemented a series of changes in withdrawal rules it hopes/expects will lead to more people leaving their investments in the TSP when they leave government.
There were 5.6 million accounts in the TSP at the end of September. A few were just born in the right family but the majority are self-made.
While people are fascinated by the TSP Millionaires Club, the real question is where does your account rank in value?
So how’s the retirement nest egg you’re building one paycheck at a time going?