Survey: Most TSP Participants Lack Outside Savings But Confidence Ticks Up

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Survey: Most TSP Participants Lack Outside Savings But Confidence Ticks Up

Close to 40% of survey participants report having private savings/investments to provide additional retirement income. 

Earlier this year we looked at the results of the Federal Retirement Thrift Investment Board’s 2023 financial wellness survey and some key findings.

The survey was of TSP participants, both employed and retired, and had a relatively anemic 13% overall response rate.  What was interesting was that, among the TSP participants who were still employed, the participation rate climbed the closer the respondents were to retirement.  It ranged from 6% for those under 35 to 20% for those 50 and older.  I guess that the closer we are to retirement, the more it is on our mind. Follow link to read more. Survey: Most TSP Participants Lack Outside Savings But Confidence Ticks Up (fedweek.com)

Source: FRTIB 2023 Financial Wellness Survey  https://www.frtib.gov/pdf/reading-room/SurveysPart/wellness/2023_Financial_Wellness_Survey.pdf