Are you maximizing your retirement money through the Thrift Savings Plan (TSP)?
Here are some reasons why you should take full advantage of your TSP:
- When you contribute at least 5 percent to your TSP, the Postal Service will match your contributions with an additional 5 percent.
- Money put into your TSP is tax-deferred and benefits from the power of compounding.
- Putting $1,000 or more per year into your TSP can add up to $90,000 over 30 years based on TSP’s current average rate of return.
Even small TSP investments can become larger, if you leave them there over time and let the interest compound and grow.
Remember: Compounding works whether you contribute $5 or $5,000 to your TSP account. The most important thing to do is to start saving as soon as you can and be consistent.
Visit the TSP site on LiteBlue to learn more.