To commemorate Veteran’s Day on November 11, this week all of our blog posts will focus on personal finance for military personnel. However, our topics are broad enough that civilians and soldiers alike should be able to use the tips and info we’re providing. After you read our blogs, we encourage you to pass them along to friends or family who could also benefit. And be sure to thank a soldier this week!
If you are a current or previous employee of the federal government, or a uniformed service member, you have likely heard of the federal government’s Thrift Savings Plan. It’s otherwise known as the TSP. At Smart401k we help quite a few people who are participating in the TSP, and we regularly discuss the plan with our members. I thought I would take this opportunity to clear up some misunderstandings about the plan and highlight a few features that have many private-sector employers looking to the TSP as an example for their retirement plans.
(more…)