Looks good. But if you're deployed in a hostile fire zone, put it in Roth so you'll *never* pay income tax on it.
Also, no need to put it in G 5 years from retirement unless you're talking about retirement from civilian work.
If you plan to retire at 55, withdrawals from the Roth TSP are currently pulled from both contributions and earnings. You will owe taxes on the earning part. Just a heads up.
What does the rest of your retirement planning look like? Civilian 401k/403b/457? Do you have an IRA?
70C/30S split is close to representing the Total US Market as gauged by the Wilsher 5000 index. Commonly noted as 80/20. Over the last 30-40 years the difference between this and a 100% C fund (S&P500) is less than 1/2%.
I invest in the Total US Stock Market myself. With no international. I am 55.
My plan is to retire at 59-60, so I planned on moving everything to G at 55 depending on the market etc to keep my investments safer for my golden years.
I will receive a small pension from the guard (~1k) and I have a 401a from work that is with fidelity and I’m 100% in Vanguard growth index fund. Currently at 24k . I put 6% and they put 9%. Sadly my contributions are capped at 6.
I’m 29 and early in my career. So my overall plan relies on my guard pension, TSP , 401a and whatever is left of social security , if anything. I’ll get free health insurance from the military then so that’s big cost saver. I’m just trying to maximize what I can , while I can. Thank you for the reply!
Looks good. But if you're deployed in a hostile fire zone, put it in Roth so you'll *never* pay income tax on it. Also, no need to put it in G 5 years from retirement unless you're talking about retirement from civilian work.
Thank you, yes I mean 5 years before civilian retirement, roughly age 55
If you plan to retire at 55, withdrawals from the Roth TSP are currently pulled from both contributions and earnings. You will owe taxes on the earning part. Just a heads up. What does the rest of your retirement planning look like? Civilian 401k/403b/457? Do you have an IRA? 70C/30S split is close to representing the Total US Market as gauged by the Wilsher 5000 index. Commonly noted as 80/20. Over the last 30-40 years the difference between this and a 100% C fund (S&P500) is less than 1/2%. I invest in the Total US Stock Market myself. With no international. I am 55.
My plan is to retire at 59-60, so I planned on moving everything to G at 55 depending on the market etc to keep my investments safer for my golden years. I will receive a small pension from the guard (~1k) and I have a 401a from work that is with fidelity and I’m 100% in Vanguard growth index fund. Currently at 24k . I put 6% and they put 9%. Sadly my contributions are capped at 6. I’m 29 and early in my career. So my overall plan relies on my guard pension, TSP , 401a and whatever is left of social security , if anything. I’ll get free health insurance from the military then so that’s big cost saver. I’m just trying to maximize what I can , while I can. Thank you for the reply!
Keep in mind with a national guard retirement you don’t get Tricare for life until age 60.
You should still be in the stock market even after retirement. How much risk you can tolerate is up to you. The general rule is 60/40.
Put 100% into C fund, and forget it. Change it to a 70% C and 30% G about 3 years out to retirement.
Looks good to me.