I’m currently active duty military and have 12% of my base bay going into a Roth IRA(?) with the Army matching an additional 5%. Overall it’s close to $500 a month. I believe my funds are being put into the L Fund, which if I remember correctly is the most diverse one, spreading my money evenly between low and high risk avenues. Should I change something?
I’m young and married with no kids, my only debts being two cars and a credit card (really working on the credit card). My TSP is my primary plan for retirements, and I want to be sure I’m utilizing it correctly. I have had no less than 10% (+ the Army’s 5%) of my base pay contributing since I joined the army going on five years ago. I have never touched the money that’s in there one time, and I’ve only even looked at it once to make sure it wasn’t in the G Fund.
I don’t really know what I’m looking at once I’m in my TSP account, which is kind of a hassle to access to begin with. I just want to know if I’ve been wasting my time, or what I can do to maximize the end payout when I’m in my 60s. Any insight is appreciated. At the very least, I at least want some validation that I’ve given myself a decent start point lol. I have no experience or education in investing or long term/retirement plans.
Submitted September 29, 2020 at 07:55PM by brockursoxoff https://ift.tt/3ijVatr
