Investing Tax TSP

7 Lesson Learned by Debunking Retirement Plan Scammers, Gamers and Detractors

Retirement Plans, especially those sponsored by an employer (the 401K, 403b, and the TSP) are probably the most powerful and simple tool you have on your path to wealth. The TSP in particular automatically leverages the power of index investing for incredibly low fees. It has Roth and Traditional options, Targeted Retirement Funds, and starting in 2018 will come with a government match for those who opt in. Why are there so many people out there advocating against the TSP or trying to game the TSP’s investing practices? Greed. It is all about Greed. Detractors Dave Ramsey, the famous radio

Read more
taxes will sink your boat
Investing Tax

3 Ways to Plan Next Year’s Taxes: less pain, more gain!

A major goal of my family is tax efficiency. While this post won’t be outlining any fishy tax schemes, it should help you save on your taxes. Paying less taxes has also helped us direct more money to paying down our loans while simultaneously investing. Taxes are a necessary evil. They pay our salary and provide services. However, the government has proven to be an inefficient user of my tax money, and given the option, I would prefer to redistribute my wealth in my own fashion. Our tax strategy leverages two important principles: saving and paying attention to changes which

Read more
Maxing the TSP should guide you like a Lighthouse
FIRE Tax TSP

Financial Independence with the TSP and IRAs

In a previous post we discussed how the actual annual TSP (Military 401K) contribution limit is $18,000. Most military folks, and indeed the general public, don’t know you can max out your contributions at work and continue to save for retirement by using IRA’s, with all the tax benefits that come with these methods. This got even more confusing when the TSP instituted the “Roth Option.” For years I have seen the “Roth” part of the TSP and conflated it with the Roth IRA. The TSP’s website and the IRS are not very clear as to whether you can contribute

Read more