FED TALK Creating Wealth Utilizing the THRIFT SAVINGS PLAN An - TopicsExpress



          

FED TALK Creating Wealth Utilizing the THRIFT SAVINGS PLAN An individual can build a very tidy sum of money when they save through the TSP. Fers employees receive matching funds up to 5%. So if an employee making $70000 set aside 10%, combined with the matching 5% they would essentially be saving 15%. If an individual started saving at age 35 and continued for the next 30 years, at an annual return of 8% they would accumulate $1,425,112.66. A very nice nest egg. But if they waited until age 45 to start and continued to age 65 they would accumulate only $555,671.05. Still a nice sum of money but substantially less because of the delay in starting. Should they delay saving until age 55, at the same rate of return of 8% saving until age 65 they would accumulate a nest egg of $167,397.67. A major difference than if they had started at age 35 or 45. To find out how this will impact you at retirement go to gebratexas and fill out the contact form for a free, no obligation analysis of your federal retirement benefits. Or simply call 817-438-7175.
Posted on: Wed, 12 Mar 2014 13:16:52 +0000

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