Do I Need a Traditional or Roth Thrift Savings Plan (TSP)?

If you’re a government worker with a Thrift Savings Plan (TSP) from your employer, congratulations! With low management fees to matching contributions, you have one of the best investing tools available. You can prepare well for a comfortable retirement by contributing to your account. However, you have a choice: deposit to a traditional or Roth TSP. Your selection will determine when you pay income tax on contributions and earnings. Here’s a breakdown of the key differences but you can also work with a financial advisor to help you choose the right investments for your situation.

What Is a Thrift Savings Plan (TSP)?
A Thrift Savings Plan (TSP) is an investment account that government employees, including military members, receive as a benefit. TSPs have minimal administrative costs and allow participants to contribute pre- or post-tax dollars. Click HERE to read more.