TSP Retirement

Retiring has become a topic of nervousness with many people these days. The economy has put many people’s 401(k)’s in the red. Pensions have dissolved and jobs are being downsized everywhere. Today people who have worked for decades at a company are getting pink slips in the place of gold watches and parties. People are scared.

Retirement is no longer something you can just count on. Saving is a must. If you are an employee of the U.S. Federal Government or are a member of the uniformed services, Thrift Savings Plan (TSP) retirement may not be a bad idea. Most people in the United States retire between the ages of 62 and 66. For course retiring depends on your age and economic circumstances, but on average young workers put away 15% and then up to 80% pre-retirement (replacing the income you forgo when you leave your job). This number usually gives a nest egg a $1 million+ price tag in order to generate that kind of sustainable income.

The TSP retirement route gives the account holder a decent amount of options. The TSP is the third part of your retirement package that also includes your FERS basic annuity and Social Security. Although employees in the civil service are not eligible for matching contributions, all holders of TSPs get tax deferment and there are options that cover most types of major indexes and have very low fees. In many ways the TSP is a cleaner 401(k).

Visit TSPaccount.com’s retirement page today to start you retirement off right.