MIL thrift savings plan

Discussion in 'On Topic' started by NisAznMonk, Aug 25, 2006.

  1. NisAznMonk

    NisAznMonk New Member

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    Who has one? How does it help you?

    In my mind it is just like having a savings account at a local bank. I'm probably wrong about this...but thats why we have a wonderful forum where military n00bs like myself can ask questions :)
     
  2. ManinCamo

    ManinCamo I wear big boy pants.

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    Last edited: Aug 25, 2006
  3. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    The TSP is pretty much a Traditional IRA/401k.
    There are no real reasons to invest in the TSP over another investment.
    Most folks will not invest on their own and the TSP just provides you a convenient way to invest and not miss your money.

    The one main benefit that may be on the horizon is employer matching funds, which is currently in full swing for civilians, not military. Basically free money from the government just for investing in the TSP.
     
  4. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    The DOD is trying to get off of the old retirement system, and make it more like the civilian sector where you save your own money (with the help of the company matching funds) and retire on that. It would save the government tons of money.
     

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