Avoid making these investment mistakes, the pros warn

Corporations are reporting earnings in September. I wonder how that will impact the market as many corporations will report less than expected earnings or losses. I suggest that the investor finds a good mutual fund that is diversified by various industries. Every month invest a set amount to the mutual fund. Just understand that the stock market will go up and down, but the long-term trend is it will go up.

Definitely invest in TSP to get matching funds. If you want the tax benefit of investing in TSP up front. The tax benefit is thus. If you invest $10,000 in a year and your highest tax bracket is 20%, you would have paid $2000 in taxes if you did not invest in TSP. The mechanics of investing $10,000 in TSP is this. You will fork over $8,000 and the IRS will reduce your tax obligation by $2000. The net effect is you invest $8000 but it really is $10,000.