Miscellaneous
As most federal/postal workers and retirees know, the Thrift Savings Plan is a good deal. About 2% of the 75,000-plus people have become TSP millionaires in the course of their federal service. They didn’t have big salaries, but they had time and patience. And it worked. A growing number have hit the $2 million mark. And these are not rich, hot shot political appointees who brought 401k cash with them. These are people who earned it by being patient and staying the course. Today’s guest is a case in point. Abraham Grungold is a long-time fed who stayed the course. Like most other TSP millionaires, he’s been in it for the long haul. It took 27 years (at a starting salary of about $21,000) to make his first million. Then six years later he hit his second million. And he’s going to talk about it today on Your Turn.