Maxing TSP

[Delta_KVTA]

To the people maxing out their TSP's: what was your annual salary at the time you were able to start maxing it out? Obviously every person's financial situation/obligations are different, but it looks like it would take a while to max for people who get stuck at a low level tower for years out of the academy

 

[Rico]

To the people maxing out their TSP's: what was your annual salary at the time you were able to start maxing it out? Obviously every person's financial situation/obligations are different, but it looks like it would take a while to max for people who get stuck at a low level tower for years out of the academy

I started maxing out when I got my "half on the go" of around 120ish.

 

[N90-EWR]

To the people maxing out their TSP's: what was your annual salary at the time you were able to start maxing it out? Obviously every person's financial situation/obligations are different, but it looks like it would take a while to max for people who get stuck at a low level tower for years out of the academy

I was maxing out since I made FPL (CPC) back in 1992, and if I recall correctly my N90 GS14 step 1 salary at the time was around 56K. I was always a strong believer in "pay myself first". I made a lot of sacrifices to make that happen, but today I'm very glad that I did.

 

[AB19]

Level 7 rest of us locality, medium high cost of living area, started maxing out after financials settled on D3 pay

 

[BDUB]

To the people maxing out their TSP's: what was your annual salary at the time you were able to start maxing it out? Obviously every person's financial situation/obligations are different, but it looks like it would take a while to max for people who get stuck at a low level tower for years out of the academy

I’ve been doing 15% and I’m at a lvl 5 and when other people I work with tell me their paycheck amount I cringe at how little mine is in comparison ?

 

[N737ER]

To the people maxing out their TSP's: what was your annual salary at the time you were able to start maxing it out? Obviously every person's financial situation/obligations are different, but it looks like it would take a while to max for people who get stuck at a low level tower for years out of the academy

I started maxing out when I made CPC; Level 10, 25% Locality (~120k).

If I didn't have any debt that I was working to pay off, I could've started maxing a year and a half earlier at D2 (~80k w/locality). I'm not at that facility anymore, but since I've left the cost of living (not what the gov't pays us) has increased quite signficantly from when I first arrived.

 

[the inquirer]

CPC at 135k. I’m the only income for my family. But then I got coworkers with working spouses and they don’t max out cuz they like new houses and new cars. We got less time to save up more money than the regular worker who works til 65 and needs less cuz they’ll be retired for less years. Put as much as you can early on. Time in the market is huge.

 

[N90-EWR]

I’ve been doing 15% and I’m at a lvl 5 and when other people I work with tell me their paycheck amount I cringe at how little mine is in comparison ?

Yeah, that was always the same for me. My take home pay was always less than most of my coworkers. It does pays off in the end.

 

[After_Victor]

Started maxing out as a GS12 step 1, 30% SSR. Lower COL area.

 

[CF]

Started out just doing enough to get the match then I stopped increasing with my raises so I could focus on student loans. The amount of interest accrued on 40k in student loans is way more than any return you’ll see on the tsp so I’m “avalanching” my debt then I’ll switch that money to maxing it out when I’m done. (Have paid about 25k off since may of 2020.)

 

[HenryTheAce]

Soon as I hit D2 at my first facility which was a level 11 center, $90k and some change salary

 

[Noturpilot]

Started maxing at D3 about 101k with locality. Put all my raises in to tsp and then I got to enjoy the cpc pay raise as spending money.

 

[Mike Kilo]

Once I CPC’d at a level 7 I dumped all my pay raises into it until I was maxed. Took a little while and I maxed it when I finally got to an 11. Wish I had done it sooner but had bills and shit. 100% into the Roth.

 

[Uglytaco]

Wife has doctorate’s and we split the bills so I maxed out this year after 6 years with the governement. Low level facility

 

[Phanatical]

Started out just doing enough to get the match then I stopped increasing with my raises so I could focus on student loans. The amount of interest accrued on 40k in student loans is way more than any return you’ll see on the tsp so I’m “avalanching” my debt then I’ll switch that money to maxing it out when I’m done. (Have paid about 25k off since may of 2020.)

If they’re federal loans you should be eligible for PLSF.

 

[CF]

If they’re federal loans you should be eligible for PLSF.

Yeah I started really dumping money into them before they reworked it and I did the math based on interest and the income driven repayment over 10 years I’d not be losing that much money so I just kept with it. The value of being debt free is also pretty high for me. If they would have done the reforms earlier I would have probably done it. But I’m almost under 10k now so I might as well just finish it off.

 

[atc12bsthrowaway]

Started maxing it at the end of year two, level 7 high locality high col area, never looked back.

 

[32andBelow]

Started out just doing enough to get the match then I stopped increasing with my raises so I could focus on student loans. The amount of interest accrued on 40k in student loans is way more than any return you’ll see on the tsp so I’m “avalanching” my debt then I’ll switch that money to maxing it out when I’m done. (Have paid about 25k off since may of 2020.)

Your stupid loans have 20+% Interest?

I do 10% Into my tsp but I also max a Roth IRA. Gonna start I dreading my tsp towards max soon

 

[Uglytaco]

Started out just doing enough to get the match then I stopped increasing with my raises so I could focus on student loans. The amount of interest accrued on 40k in student loans is way more than any return you’ll see on the tsp so I’m “avalanching” my debt then I’ll switch that money to maxing it out when I’m done. (Have paid about 25k off since may of 2020.)

Are you taking advantage of the interest free through May 2022? That’s what my wife has been doing. From 150K down to 75K? In almost 2 years

 

[Dolan]

Get the agency maximum match and no more. Change my mind!