No. of Recommendations: 0

Looks to me like you are in very good shape. If the TSP C-Fund averages 10% return over the next 21 years (til you are 55 & eligible to retire). Your money would double 3 times even if you didn't contribute another dollar. You would have approx. $272 at age 55. If you continue to contribute the maximum allowed and get the full gov't match, you will have a very substantial account upon retirement. I assume you will also eventually be eligible for social security. Are you also contributing to a ROTH IRA? You should seriously consider doing that too, even if it means contributing less to the TSP.

I'm under the old CSRS retirement system so my TSP contributions are limited to 5% of salary with no gov't match. I will be retiring in less than two years. My TSP account is only around $90K but I have other substantial IRA accounts; my wife has a 403B account and with the generous CSRS pension (60% of average high three years salary + cost of living adjs) I will not have to work at all after age 55.

Without knowing more about your family situation (kids?, etc.) it's tough to judge how you are doing but many people your age have not even started saving for retirement so you are probably ahead of the game. Good luck.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.