TSP is a good place to save for retirement. But, you want to make sure you keep your beneficiary designations up to date and you need to plan for how to pass the funds on to the beneficiaries, first and second generation, with the lowest possible tax load.
As a newly commissioned military officer controlling your financial affairs is important for your personal life. Consider using this advice to start making sound money decisions that will set you up for long-term future success.
While deployed to a combat zone, military members have the unique ability to contribute tax-free combat pay to Roth TSP. This benefit can be very powerful especially for senior military officers who can contribute up to $18,500 to Roth TSP and never pay taxes on the contributions or the earnings.
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