Military Saves Blog

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Tips, advice, and the latest news from the savings world.

TSP Rolls out Roth in May

Written by Super User · 18 April 2012

by Miriam Darden Settles, CFP®
Federal Retirement Thrift Investment Board

Roth:  What’s it all about?

Simply put, Roth is all about options when it comes to the tax treatment of your TSP savings.  If you decide to make a Roth TSP contribution, the amount that you contribute comes out of your pay after-tax rather than before-tax as it does now.  That means that when you take withdrawals from your Roth balance, your Roth contributions come out tax-free because you’ve already paid the tax on them.  Not only that, but the earnings on those contributions are also tax-free provided you meet two basic Internal Revenue Service (IRS) requirements.*

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Ready. Save. Buy.

Bonds
Written by Guest Blogger · 13 April 2012

By Lila Quintiliani, AFC ®
Military Saves Assistant Coordinator

Just like clockwork they would arrive each year – the little certificates announcing that my aunt had purchased another savings bond for my birthday.  A few weeks and a thank you note later (Auntie A was always a stickler for the niceties), and a crisp Series EE savings bond would arrive in the mail.  When my daughters were born a few years ago, the tradition continued. 

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Tip of the Day

  • Written by Katie Bryan | November 22, 2013

    Find places to cut your #spending so that you can pay down #debt faster: http://ow.ly/fzT2h  

Saver Stories View all »

Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

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One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Then I decided I'd had enough of living paycheck to paycheck and worrying about money all the time.

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Making Savings a Part of Marriage

Written by Super User | November 26, 2010

Capt. Rob Eckhardt is the first to admit that he hasn’t always been responsible with money. But less than 10 years after a rocky start to saving, Eckhardt reports that he and his wife are free from credit card debt, have a down payment on a home, and are saving regularly for retirement. And, as the Military Saves representative for his Air Force squadron, he’s helping others make similar progress.

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