Posted on Apr 13, 2016
How should we influence new soldiers to contribute towards their TSP?
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When I was brand new, I had little to no training on TSP. Luckily my father is retired Air Force and told me to put 10+% away. How should we educate new Soldiers about this crucial part of growing up?
Posted >1 y ago
Responses: 8
When I joined the Navy, my base pay was $77.10, even then I took out a savings bond per month that took half my pay at that time. It continued for the next four years when I reenlisted as an E-5. It only resulted in a couple thousand dollars, but set in motion a trend for saving for retirement that I used until I finally retired. Anything that offers tax deferred compensation or matching funds should be taken as fast as possible, if you can afford it, go Roth and contribute to the max that is legal. As far as educating our young enlistees, that is a tough one, most want everything now, just as they did before becoming a service member.
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