TSP and Beyond: Retirement Savings Options for Military Families
Military retirement savings have gotten complicated with all the TSP options, IRAs, and investment strategies flying around. As someone who maxed out TSP contributions for years and built multiple retirement accounts, I learned everything there is to know about growing wealth beyond your pension. Today, I will share it all with you.
Thrift Savings Plan (TSP)
Probably should have led with this section, honestly. TSP is your primary retirement savings vehicle with incredibly low fees (under 0.05%). BRS members get automatic 1% plus up to 4% matching—that’s free money you cannot afford to leave on the table.
Beyond TSP: IRAs and Other Options
Once you max TSP ($23,500 in 2026, plus $7,500 catch-up if 50+), consider opening a Roth IRA for additional tax-free growth. You can contribute $7,000 annually ($8,000 if 50+). Taxable brokerage accounts offer unlimited contributions with more flexibility. That’s what makes diversified saving endearing to us military families—we’re not dependent on a single account or investment strategy.
Investment Strategy
Younger service members should invest heavily in stocks (C, S, and I funds in TSP) for growth. As you approach retirement, gradually shift toward bonds (G and F funds) for stability. Lifecycle funds automatically rebalance based on your target retirement date if you prefer hands-off investing.
