As many people know, the big issue with government employment right now is the high number of people who are nearing retirement age. Which should be great for youngsters like me, just getting into government service. Lots of room for growth. And for the most part, that is true, though a lot of the potential retirees have decided to hang on for a few more years thanks to the state of the economy and the shrinking of their retirement accounts. … [Read more...]
Saving For Later
I am officially impressed by J. Money. One of his goals each year is to max out his 401(k) and for varying reasons which he describes, this meant that he had 90% of his last paycheck taken out. 90%! That seems like crazy talk. But I'm definitely impressed. Nice work, J. After much pondering, I recently upped my retirement contributions. I had been contributing 5%, plus the max to my Roth IRA. I upped to a whopping 7%. Clearly, nowhere … [Read more...]
Checking out my retirement accounts
Since receiving my raise, I've been pondering increasing my contributions into my TSP. I was chatting with a co-worker about this, and she commented that she puts in the max. I'm impressed, but I'm not sure that's the plan for me. Right now, I want to keep setting aside money for a house, though I do put in 5% (enough to get the full match). I'm considering putting in up to another 5%, but haven't made a final decision yet. I'm not sure … [Read more...]