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Avoid the $73,000 Mistake
by Josh Brooks, CFP®, Exponential Advisors LLC
The Veteran's TSP Rollover Checklist
When I talk with retiring service members, there’s one number that keeps coming up.
$73,000.
That’s not a salary, a bonus, or the price of a new truck. It’s the average lifetime value lost when veterans make the wrong call with their Thrift Savings Plan (TSP) after separation.
I’ve seen it happen to smart, disciplined people — the same people who could strip down an M4 blindfolded and give a five-paragraph OPORD without breaking a sweat. Yet when it comes to their TSP, they either cash out too soon, roll over without a plan, or freeze up and do nothing.
Should I invest more in my employer’s 401K?
By André Small, CFP®, MBA, A Small Investment, LLC
Imagine you’re earning $200,000 a year. You contribute 8% to your employer’s Roth 401(k), get a 6% match, and have a paid-down home that has a low 2.25% interest rate.
You’ve also built $275,000 in investments including a maxed out Roth IRA. Now comes the question: should you invest more in your employer 401k?
It’s a question many high earning professionals ask, and the answer isn’t always simple, because it does really depend on your goals, taxes, and long term flexibility.
Before increasing your contribution, pause and ask: what am I optimizing for? This is done with the understanding that what you value most financially and goals are aligned with your near term and long term needs.
Optimizing Investment Placement Across Roth, Taxable & Traditional Accounts
by Joe Morgan, CFP®, CFA, Best Financial Life
How to Use Traditional Retirement Accounts
Traditional Retirement Accounts are tax-deferred. This means you get a tax deduction when you put money in, and you pay tax when you take money out (usually in retirement). The most common types are Traditional 401(k)s and Traditional IRAs.
When to Use These Accounts
You should only put money in these accounts that you won’t need until retirement. The penalty for withdrawal is too high to pay.
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