Tag: TSP

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Are You One of the TSP Millionaires?

 Are you one of the 208 TSP Millionaires? Yes it is possible and guess what 208 Federal Employees have done it.   According to Mike Causey WFED.

Latest: April 13, 2015 2:59 am
A large number of feds became millionaires the hard way. Investing over time. They invested the maximum amount allowed and stuck with the stock-market indexed funds through good times and bad.

Bad, when you are buying stocks, is good.

During the recession, those who kept putting tax-deferred dollars into the C, S and I funds saw their accounts shrivel up. For a time. A long time for many. They bought low, when stocks were in effect “on sale” and now they are seeing the payoff.

Last week we heard from a recently retired fed. He put in 28 years with Uncle Sam and, obviously, was a steady investor. His account balance stands at $1,068,000.00. He wonders how this compares with other investors. Well, he’s in very good company, but the millionaires club is growing almost every day. So where do you stand?

Here’s the breakdown:

2.798 million workers (and military personnel) have balances under $50,000.
A whopping 1.426 million have between $50,000 and $249,999.
375,472 have accounts between $250,000 and $499,999.
95,664 have TSP accounts worth between $500,000 and $749,000.
21,485 are in the $750k to $990,999k range.

And there is a mystery person with more than $4.8 million that is fast-approaching the $5 million mark. So the obvious question is who is he or she?

Logical question.

Good question, but there’s just one thing…

I don’t know! His or her identity is unknown. But, if you happen to be him or her, and you want to share your secrets with millions of inquiring minds, email me!

Are You One of the TSP Millionaires?

Enjoy, Felix A. Montelara Author: Potential Millionaire

http://www.fedsmith.com/2012/02/02/208-tsp-millionaires-enjoy-big-return-january/

Are You One of the TSP Millionaires?

Update: From Mike Causey | @mcauseyWFED, April 14, 2015 6:02 am:  “…how do we stack up against the 4,167 feds who have $1 million-plus accounts? Or the 21,000 who are almost there and the 21,458 whose account balances are between $750,000 and $999,999?”

As you can see we went from  208 TSP Millionaire in 2012 to 4,167 in 2015. I will keep updating this page as time goes by.

Are You One of the TSP Millionaires?

I hope this opens your mind to the possible.  Let me know if you are approaching the 21,458 or if you are one of the 4167 already there.

It matters because we all are Potential Millionaires.

Best regards,

Felix A. Montelara
Are You One of the TSP Millionaires?

Posted on

Are You One of the TSP Millionaires?

This was from February 2, 2012 :  Are you one of the 208 TSP Millionaires? Yes it is possible and guess what 208 Federal Employees have done it.   According to Mike Causey WFED.

Are You One of the TSP Millionaires?

Enjoy, Felix A. Montelara Author: Potential Millionaire

http://www.fedsmith.com/2012/02/02/208-tsp-millionaires-enjoy-big-return-january/

Are You One of the TSP Millionaires?

Update: From Mike Causey | @mcauseyWFED, April 14, 2015 6:02 am:  “…how do we stack up against the 4,167 feds who have $1 million-plus accounts? Or the 21,000 who are almost there and the 21,458 whose account balances are between $750,000 and $999,999?”

As you can see we went from  208 TSP Millionaire in 2012 to 4,167 in 2015. I will keep updating this page as time goes by.

Are You One of the TSP Millionaires?

I hope this opens your mind to the possible.  Let me know if you are approaching the 21,458 or if you are one of the 4167 already there.

It matters because we all are Potential Millionaires.

Best regards,

Felix A. Montelara

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Have You Joined the TSP Millionaire Club?

Federal TSP millionaire tells how to join the club

Click here or on tittle for Audio: How to become a Millionaire

By Mike Causey

One of the easiest ways to become wealthy is to write a book with tips on how to become wealthy in the stock market. Even if you have failed in every other way, it can be your ticket to big bucks.

The secret of success is often not in the tips themselves — buy low, sell high, dollar-cost-average, yadda yada yadda — but on publicity. Catch the eye of Oprah or Dr. Oz, or get the gang on The Talk on afternoon TV to chat it up. Bingo, you are an instant celebrity. Then possibly very rich. Or…

You can do it the old-fashioned way. If you are a federal or postal worker you can join the TSP, max your contributions, take advantage of the 5 percent government match for FERS employees and settle in for the long haul.

Wednesday’s column noted that there are currently 929 federal workers with TSP accounts worth $1 million or more. As noted, some of them were rich when they came into government. They transferred their 401(k) plan funds into the TSP.

Top hat w gloves

 

Some of the TSP millionaires are members of Congress or lawyers-turned- federal judges. They either did well in the private sector or married well. They had the good fortune to fall in love with someone who happened to have the good fortune to have a fortune. But a few did it the hard way. Here’s one who tells how it can be done:

“…I am one of the 929 TSP millionaires mentioned in your column. Not born with a silver spoon in my mouth either, for growing up, my family never even had a car. I’m 58 years old and have over $1 million in the TSP, beginning with contributions 25 years ago. Attached is a plot showing how it happened, by putting the maximum amount available (although past 50, due to other financial obligations I did not even add the catch-up available for 50+). I did make sound investments with timing, for I made double-digit growth extraordinaire during the booms, and was fortunate to avoid the busts by moving it temporarily to the G fund. I have some advice that I think you should offer the young bloods out there joining the federal government and that they must contribute their maximum amount to the TSP. That is rule #1.”Here is rule #2: No one right now should have money in the F Fund. I am hoping that perhaps the TSP board will actually

develop separate F Funds for short/moderate term bonds (less than 5-7 years) and another separate one for long term bonds. That is because more than half of the holdings in the F fund are for more than five years’ duration. It is a mathematical fact that for every 1 percent increase in interest rates (and interest rates must go up at some point, since they are basically zero and cannot go lower), there is a 7 percent reduction in the value of the bond fund. So, Mike Causey of Federal News Radio fame, you should get on your soapbox and save all the federal employees who have money in the F fund and tell them to move it out. It is ridiculous to have a fund like the F fund, where half the money will guaranteed lose money and the other half will gain. All it takes is for the TSP board to create two separate funds and really help the federal employees. It is a shame.

 

“One more thing for those federal employees who had other jobs. They should undoubtedly move their other IRAs into the TSP using form TSP-30. They should do this electronically and never, ever touch the money themselves. Tax consequences would incur if for some reason they did not move the money within 60 days of taking it out of the IRA. Only do a rollover IRA from one institution to another.” — One of the 929

 

 

 

Posted on

Are You One of the TSP Millionaires?

This was from February 2, 2012 :  Are you one of the 208 TSP Millionaires? Yes it is possible and guess what 208 Federal Employees have done it.   According to Mike Causey WFED.

Are You One of the TSP Millionaires?

Enjoy, Felix A. Montelara Author: Potential Millionaire

http://www.fedsmith.com/2012/02/02/208-tsp-millionaires-enjoy-big-return-january/

Are You One of the TSP Millionaires?

Update: From Mike Causey | @mcauseyWFED, April 14, 2015 6:02 am:  “…how do we stack up against the 4,167 feds who have $1 million-plus accounts? Or the 21,000 who are almost there and the 21,458 whose account balances are between $750,000 and $999,999?”

As you can see we went from  208 TSP Millionaire in 2012 to 4,167 in 2015. I will keep updating this page as time goes by.

Are You One of the TSP Millionaires?

I hope this opens your mind to the possible.  Let me know if you are approaching the 21,458 or if you are one of the 4167 already there.

It matters because we all are Potential Millionaires.

Best regards,

Felix A. Montelara

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