« previous next »
Pages: 1

Author Topic: Finally on track for $18K TSP  (Read 4033 times)

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3619
  • Age: 45
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Finally on track for $18K TSP
« on: July 15, 2015, 02:57:02 PM »
Rough first half of 2015 but I sucked it up and got things in order again.
It'll take $941 per paycheck (31.2% pretax) from now till the end of the year, but I'll max out *exactly*. WOOT!
Now I have to remember to drop it back in Jan so I don't max out too early and miss matching funds... lol
Logged

forummm

  • Walrus Stache
  • *******
  • Posts: 7374
  • Senior Mustachian
Re: Finally on track for $18K TSP
« Reply #1 on: July 15, 2015, 03:21:24 PM »
Good going! Someone ought to send out an email to remind people about the next year's contribution levels. I get those at my work.
Logged

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3619
  • Age: 45
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Finally on track for $18K TSP
« Reply #2 on: July 16, 2015, 08:15:59 AM »
When do you think they'll publish that? Is there any consistency to the timing?
Logged

RunHappy

  • Pencil Stache
  • ****
  • Posts: 560
Re: Finally on track for $18K TSP
« Reply #3 on: July 16, 2015, 08:30:30 AM »
good job!
Logged

forummm

  • Walrus Stache
  • *******
  • Posts: 7374
  • Senior Mustachian
Re: Finally on track for $18K TSP
« Reply #4 on: July 16, 2015, 09:05:48 AM »
The IRS releases the new limits each year but I don't know when. You can set yourself a calendar reminder to change your withholding in mid-December to make sure you don't forget.
Logged

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3619
  • Age: 45
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Finally on track for $18K TSP
« Reply #5 on: July 17, 2015, 08:24:34 AM »
Quote from: forummm on July 16, 2015, 09:05:48 AM
The IRS releases the new limits each year but I don't know when. You can set yourself a calendar reminder to change your withholding in mid-December to make sure you don't forget.
Derp. Yeah, I'm doing that now. Thanks!
Logged

rockstache

  • Walrus Stache
  • *******
  • Posts: 7270
  • Age: 11
  • Location: Southeast
Re: Finally on track for $18K TSP
« Reply #6 on: July 17, 2015, 11:28:14 AM »
Congratulations on maxing!

It's my first year maxing it out (401K), and I set my calendar with a reminder in December also. We get raises mid June at about 4% usually, so I have to try to figure it out so it doesn't go under so I miss the match. I don't math well, so hopefully I can get
Logged

MsPeacock

  • Handlebar Stache
  • *****
  • Posts: 1571
  • Location: High COL
Re: Finally on track for $18K TSP
« Reply #7 on: July 17, 2015, 02:59:35 PM »
Nicely done!

My goal for next year is to up my contribution to the max, after I get some debt sorted out. Should be square for making the change at the end of the year.

Very nice w/ the 5% matching too!
Logged

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3619
  • Age: 45
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Finally on track for $18K TSP
« Reply #8 on: July 17, 2015, 10:29:10 PM »
Quote from: MsPeacock on July 17, 2015, 02:59:35 PM
Nicely done!

My goal for next year is to up my contribution to the max, after I get some debt sorted out. Should be square for making the change at the end of the year.

Very nice w/ the 5% matching too!
Yep. Between contributions, matching, and loan repayments, I'm putting in $620 a week. Feels damn good.
Logged

OlDogface

  • 5 O'Clock Shadow
  • *
  • Posts: 8
Re: Finally on track for $18K TSP
« Reply #9 on: July 18, 2015, 07:38:25 AM »
Great job!

One thought - if you are paid by DFAS and are in the GS pay system, verify that you divided by the correct number of pay periods. This year, 2015, has an "extra" 27th pay period:  http://www.fedsmith.com/2014/12/10/will-you-have-an-extra-pay-day-in-2015/  (If the link doesn't work, look up "will you have an extra pay day in 2015" over on Fedsmith.)

I am in this situation. As of this writing I contribute $667 per pay period (contribute all year). Next year, I will need to ramp it back up to the normal $673 (unless Congress/IRS raise the cap again).
Logged

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3619
  • Age: 45
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Finally on track for $18K TSP
« Reply #10 on: July 20, 2015, 09:40:49 AM »
Quote from: OlDogface on July 18, 2015, 07:38:25 AM
Great job!

One thought - if you are paid by DFAS and are in the GS pay system, verify that you divided by the correct number of pay periods. This year, 2015, has an "extra" 27th pay period:  http://www.fedsmith.com/2014/12/10/will-you-have-an-extra-pay-day-in-2015/  (If the link doesn't work, look up "will you have an extra pay day in 2015" over on Fedsmith.)

I am in this situation. As of this writing I contribute $667 per pay period (contribute all year). Next year, I will need to ramp it back up to the normal $673 (unless Congress/IRS raise the cap again).
Good point.
Since this was a midyear adjustment, I just subtracted my YTD contributions from the cap and divided by remaining paychecks, so the #/yr didn't come into play, but that's good info regardless.
Logged

Rosy

  • Magnum Stache
  • ******
  • Posts: 2746
  • Location: Florida
Re: Finally on track for $18K TSP
« Reply #11 on: July 24, 2015, 06:24:13 AM »
Congrats for being on track again:)

Logged
Pages: 1
« previous next »