Dan and Katelyn discuss strategies like the ‘January jump’ to help maximize TSP balances, emphasizing the impact of small adjustments and advocating habit stacking for consistency. They also delve into Roth TSP and catch-up contributions, highlighting their potential benefits and providing guidance on eligibility and initiation.
Dan discusses strategies to enhance TSP balances through the January jump concept. He emphasizes the significance of addressing seemingly minor details, as their cumulative effect could have adverse consequences. Dan illustrates this with scenarios and calculations, demonstrating potential losses. He advocates habit stacking to help ensure timely contributions and consistent follow-through. Katelyn discusses Roth, TSP, and catch-up contributions for those 50 and older. She outlines the 2024 contribution amounts, explains catch-up contributions for eligible individuals, clarifies eligibility criteria, and highlights the potential benefits of these contributions. Katelyn provides a guideline for initiating contributions and briefly mentions the advantages of Roth contributions to the TSP, especially now.
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The FedLife Podcast is your in-depth, biweekly deep dive into the world of federal benefits and retirement planning. Hosted by federal benefits expert Ed Zurndorfer and Dan Sipe of Serving Those Who Serve, each 30-minute episode unpacks the complexities of FERS and CSRS retirement, FEHB and Medicare, survivor benefits, tax planning, and more. Designed for federal employees and retirees who want more than just the basics, FedLife goes beyond the headlines to explore the rules, nuances, and strategies that can make a meaningful difference in your retirement. Remember: it’s your Fed life, make it a great one.
The Fed15 Podcast is your weekly 15(ish)-minute briefing on federal benefits and financial planning, built specifically for federal employees and retirees. Hosted by Dan Sipe and Katelyn Murray of Serving Those Who Serve, each episode delivers clear, actionable guidance on topics like FERS and CSRS retirement, TSP strategies, FEHB, survivor benefits, tax planning, and more! Whether you’re five years from retirement or already there, The Fed15 helps you cut through the noise, avoid costly mistakes, and make confident decisions about your federal benefits.
