Do You Know Your Effective Tax Rate?

Knowing your ‘effective tax rate’ can provide some mental relief when it comes time to pay your taxes. Many people believe that their income tax is a higher percentage of their earned income than it actually is. Even though you may be in the 28% tax...

2017 Financial Resolutions

Did you make any financial resolutions for 2017? You will be more successful if you write them down. Here are a few that I suggest for members of the Foreign Service: Increase your TSP contributions to the maximum allowed, if possible. Consolidate your bank accounts....

TSP catch-up contributions

The TSP “over 50” catch-up contribution limit for 2017 is $6,000. Catch-up contributions do not count against the $18,000 elective deferral limit. To qualify to make catch-up contributions, you must: be age 50 or older, or will turn 50 in the calendar year...