Q. I am 54 years old and I have 30 years of federal service under FERS. Should I start a Roth TSP at age 54? I was born in March 1958. I plan to work until I hit full Social Security, which, I think, is 67 or maybe 66. Bottom line: If I were to start the Roth TSP until retirement at age 67 or 66, which is 13 or 14 years from now, is it worth my time and effort?
My current Thrift Savings Plan is about $230,000 as of July. Six years from now, about March 2018, I will be drawing an estimated $3,500 monthly taxable from my time in the Army Reserve. So, again, should I start a Roth TSP or stick with the current TSP?
A. I think that you’re approaching the question the right way — by asking if there’s a compelling reason to complicate your investment program by adding Roth TSP contributions. I can’t come up with one.