New TSP Fund: L2070 Lifecycle | What are Lifecycle Funds? Are Lifecycle Funds a Good Option? #136

The L2070 lifecycle fund is available now in your TSP as of July 2024. If you were born after 2005, this will be your default fund you'll be automatically enrolled to contribute to. This is for those of you who'll reach retirement age around the year 2070 (2068-2072 ish). We discuss what lifecycle funds are, what mix of C/S/I/F/G funds is in the L2070 fund, what actions are required from you to maximize your retirement savings, and how to avoid high-fee investments.

Main take-aways from this great episode:

• No action is required for the average TSP participant. No need to go change anything based on this new fund option.
• Lifecycle funds are a very solid option as your begin your journey. And you have plenty of time to research and develop a different strategy if you want before the lifecycle fund starts shifting slowly towards more bonds.
• If you want to learn more about the TSP, visit militarymoneymanual.com/tsp for our great course! We also give the course away to any E-4 or below. Just e-mail us- tsp@militarymoneymanual.com for the code.
• The TSP and the L2070 option is still very low cost (0.054%) and a great way to build wealth.

If you need help, for a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.

Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!

If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com.

If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.

I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.

The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.