Veteran Benefits

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How Much Should You Contribute To Your TSP?

When you consider the Thrift Savings Plan’s (TSP) low fees, diversified funds, and generous government match, contributing is a no-brainer for most Federal employees. However, the question of “how much” to contribute is far more complicated. This question is difficult to answer because it depends on many variables such as what age you begin to…

Roth TSP and Roth IRA

Can You Have A Roth TSP And Roth IRA?

In this video, I’ll cover whether you can have both a Roth TSP and Roth IRA and some of the differences between the two. If you want to learn more, read this article on the differences between the TSP and the IRA.

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How Is Your TSP Taxed?

The Thrift Savings Plan (TSP) is a qualified retirement plan, which means the plan meets specific IRS requirements and, as such, receives additional tax benefits and protections. The tax benefits you’ll receive and how your withdrawals will be taxed depends on whether you have a traditional or a roth TSP. Traditional vs Roth Taxation Traditional…

Buying Back Military Time

5 Things You Need To Know About Buying Back Military Time (VIDEO)

In this video, I’ll cover the 5 things you need to know about buying back military time. Use the DFAS Military Buy Back Estimator to get your estimated buy back cost. And if you want to learn more about the FERS pension, read this article.

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The VA’s Survivors’ and Dependents’ Educational Assistance Program at a Glance

Considering the rapidly increasing cost of college, it’s more important now than ever that veterans and their dependents understand and utilize the benefits that they have earned. The VA’s Survivors’ and Dependents’ Educational Assistance (DEA) program or Chapter 35 is one such benefit that all eligible dependents should utilize. The program offers monthly payments for…

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The TSP vs. the IRA: What’s the Difference?

The Thrift Savings Plan (TSP) and the Individual Retirement Arrangement (IRA) share many similarities, such as the option to fund with pre-tax (traditional) or after-tax dollars (Roths); having penalties for early withdrawals and failing to take required minimum distributions beginning at age 72. However, there are some important distinctions between the two accounts, such as…

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College Tuition Waiver for Veteran Dependents at a Glance

The College Fee Waiver for Veteran Dependents waives the tuition and fees at any State of California Community College, California State University, or University of California campus. This program covers tuition and student service fees; it does not cover campus-based fees, books, parking, or room and board. Furthermore, the Waiver is only applied to state-supported…

Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional

Having the choice of contributing to a Traditional TSP or a Roth TSP provides you with a significant tax planning option—but it does force you to make another financial planning decision. Many people find making this decision a challenge because there’s no one right answer for everyone, and it depends upon several factors. What’s Not…

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Three Advantages of the TSP

The Thrift Savings Plan (TSP) is designed to closely resemble the private sector’s 401(k). Although the TSP is similar to the 401(k), its additional features, including low fees, broad diversification, and a generous government match, make it superior to most 401(k)s and a perfect wealth-building vehicle for Federal Employees. Here’s a closer look the three…