Dan and Katelyn discuss strategies like the 'January jump' to help maximize TSP balances, emphasizing the impact of small adjustments and advocating habit stacking for consistency. They also delve into Roth TSP and catch-up contributions, highlighting their potential benefits and providing guidance on eligibility and initiation.
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Dan discusses strategies to enhance TSP balances through the January jump concept. He emphasizes the significance of addressing seemingly minor details, as their cumulative effect could have adverse consequences. Dan illustrates this with scenarios and calculations, demonstrating potential losses. He advocates habit stacking to help ensure timely contributions and consistent follow-through. Katelyn discusses Roth, TSP, and catch-up contributions for those 50 and older. She outlines the 2024 contribution amounts, explains catch-up contributions for eligible individuals, clarifies eligibility criteria, and highlights the potential benefits of these contributions. Katelyn provides a guideline for initiating contributions and briefly mentions the advantages of Roth contributions to the TSP, especially now.
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