General Purpose TSP Loans are on the rise, with recent data showing a significant jump in their usage. In 2023 alone, the number of outstanding loans increased by 40%. By the end of the year, nearly 480,000 loans were active, totaling close…
Federal employees have had the option to make after-tax contributions to the Roth Thrift Savings Plan (TSP) since spring 2012. This account offers the advantage of tax-free withdrawals in retirement, on top of the agency match. However, despite its potential benefits, the…
If you haven’t been contributing to a 529 or pre-paid tuition plan for your child’s college tuition, you may be tempted to dip into your TSP to fund their education. Considering the high interest rate climate we find ourselves in, many parents…
In 2012, the Thrift Savings Plan (TSP) introduced the Roth TSP option, allowing federal employees to invest after-tax income and enjoy tax-free withdrawals in retirement. If you’re wondering whether the Roth TSP is a good fit for your financial future, here’s a…
When you retire or leave your job, it might take up to 30 days for the TSP to get notified by your agency. During this time, you won’t be able to access your money. Once the TSP is notified, they’ll give you…
When you retire, you can leave your money in the Thrift Savings Plan (TSP) and let it grow. But if you want more control or flexibility, it's important to know what the TSP doesn’t allow you to do.
In-Plan Roth Conversions Aren’t…