Thrift Savings Plan – Take Five

For the Thrift Savings Plan (TSP) do April showers bring May flowers? – pretty catchy phrase, and often very true when forecasting the ebbs and tides of nature.  But April also brought us something else other than soaking showers that made my back yard look like a jungle, it brought us Financial Literacy month and that means more focus on the Thrift Savings Plan for federal and postal employees.

• Also Read: New TSP Withdrawal Rules and What They Mean for Your Federal Retirement Plans
• Also Read: TSP Investment Moves That Could Help Federal Employees Retire on Their Own Terms
• Also Read: Early Retirement Myths Federal Employees Need to Stop Believing

As the world is changing and becoming more automated with a greater responsibility for each of us to be in charge of our own lives, including our finances; being financially literate is one of the most important tools of survival needed today – the Thrift Savings Plan is no different.  To underscore the urgency of financial literacy, schools and civic organizations are beginning to teach children as young as pre-kindergarten age the merit of understanding appropriate and sound money management.

Just as these young children are learning new and different languages to communicate with a world whose diversity is immeasurable, becoming financially literate carries equality priority and importance.  The world has changed and we must be ready even earlier to meet its challenges as well as its opportunities.  Knowing the basics about the Thrift Savings Plan is a must for federal employees

During the monthly of April, the Thrift Savings Plan (TSP) invited participants to take FIVE for their future.  Take FIVE minutes to make changes in your Thrift Savings Plan account.  Contribute FIVE percent so that you will receive maximum matching contributions from your agency.  Choose from FIVE core funds and FIVE life cycle funds and assess them for changes to make your Thrift Saving Plan money work better for you.

For the Thrift Savings Plan, when it rains it pours.  Let the April showers that has brought some of the most beautiful flowers in May that I have seen in a long time, remind you to let your finances blossom as you make financial literacy is part of your plans to retire well.

P. S.  Always Remember to Share What You Know.