When Congress set up the TSP it told the managers to keep it simple, keep it cheap to users with low administrative fees, and to keep it apolitical.
Whether you are a plodder or a planner, foot-loose or up-tight, odds are your retirement checklist didn’t mention the possibility of a once-in-a-lifetime pandemic that would knock the 11-year bull market to its knees.
With the stock market reeling from the impact of the coronavirus who do you feel sorriest for, the 22,432 TSP millionaires or the 5 million-plus smaller investors?
Not so long ago in what now looks like the good old days hundreds of Thrift Savings Plan account holders were hoping to be inducted into the Millionaires Club.
The Thrift Savings Plan millionaires club was going strong before the coronavirus pandemic. Now, it’s lost 45% of its members.
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.