WEBVTT 00:00.940 --> 00:03.051 Hello and welcome to the Army Reserve 00:03.051 --> 00:05.162 Field Report . I'm Specialist Richard 00:05.162 --> 00:06.940 Moser reporting from Fort McCoy 00:06.940 --> 00:09.430 Wisconsin in our segment . Get that 00:09.430 --> 00:11.597 bread ? We sit down with the financial 00:11.597 --> 00:13.750 office Manager to discuss some of the 00:13.750 --> 00:15.972 most common questions and problems that 00:15.972 --> 00:17.917 they are presented with by U . S . 00:17.917 --> 00:20.028 Service members . And today's segment 00:20.028 --> 00:22.139 we talk about the thrift savings plan 00:22.139 --> 00:25.790 or the T . S . P . For short comes the 00:25.790 --> 00:29.270 money . Here we go . Money talks . Here 00:29.270 --> 00:31.550 comes the money . 00:37.440 --> 00:39.329 Hello everyone . I'm a Specialist 00:39.329 --> 00:41.162 Richard Moser here on Fort McCoy 00:41.162 --> 00:43.384 Wisconsin with MS jeannine holders from 00:43.384 --> 00:45.273 the Army Community Service Centre 00:45.273 --> 00:47.607 Janine . Thank you for being here today . 00:47.607 --> 00:49.718 Thank you . I appreciate the invite . 00:49.718 --> 00:51.718 Of course . So tell us a little bit 00:51.718 --> 00:53.829 about what you do here on base . So I 00:53.829 --> 00:56.550 am the financial management program um 00:56.560 --> 01:00.460 manager uh here at Fort McCoy . I just 01:00.840 --> 01:03.460 soldiers and civilians with budgets and 01:03.470 --> 01:06.520 I assist people with their TSP . 01:06.530 --> 01:09.150 Where they want to invest their money 01:09.540 --> 01:12.850 and things like that and invest 01:12.850 --> 01:14.906 properly investing is so important . 01:14.906 --> 01:17.580 Especially in today's age . What are 01:17.580 --> 01:19.950 some of the most common questions or 01:19.950 --> 01:22.172 problems that you see with soldiers and 01:22.172 --> 01:25.420 their T . S . P . S . A lot of times I 01:25.420 --> 01:29.230 find that they don't touch it . They 01:29.230 --> 01:32.170 don't look at it and I like to tell 01:32.170 --> 01:34.490 them to be sure to look at how their 01:34.490 --> 01:37.320 funds are diversified . A lot of them 01:37.320 --> 01:40.270 leave their funds in the G . Fund which 01:40.280 --> 01:44.170 is a very low risk fund . So I like 01:44.170 --> 01:46.460 to tell especially the younger soldiers 01:46.840 --> 01:50.630 if you are younger try to diversify 01:50.630 --> 01:52.630 into some of those more aggressive 01:52.630 --> 01:56.000 funds so that you could build your 01:56.010 --> 01:59.960 uh portfolio faster . And do 01:59.960 --> 02:02.071 you guys offer suggestions as to what 02:02.071 --> 02:04.016 percent to put into into different 02:04.016 --> 02:07.900 funds ? Every situation is different . 02:07.910 --> 02:10.980 I mean what we can do is just inform 02:10.980 --> 02:13.860 them what the funds do . It's up to 02:13.860 --> 02:16.820 them to really decide where they want 02:16.820 --> 02:19.600 to diversify the money and who exactly 02:19.600 --> 02:21.711 is eligible for the TSP or the thrift 02:21.711 --> 02:24.550 savings plan . Anyone that's in the 02:24.560 --> 02:28.360 uniform services or any D . A civilian 02:28.940 --> 02:31.430 and why do you guys recommend TSP as 02:31.430 --> 02:34.770 opposed to other retirement plans or 02:34.770 --> 02:37.570 for one case the T . S . P . One of the 02:37.570 --> 02:39.270 big things with TSP is their 02:39.270 --> 02:41.860 administrative costs are solo compared 02:41.860 --> 02:44.840 to other investments opportunities . 02:44.850 --> 02:48.460 Their cost is 33 cents per $1000 . 02:48.840 --> 02:51.290 Where if you go on the outside of Tsp , 02:51.290 --> 02:54.860 it's around $4.60 per 1000 . 02:55.340 --> 02:57.562 I know it doesn't sound like a lot when 02:57.562 --> 02:59.780 you're talking about just $1000 but if 02:59.780 --> 03:02.070 I'm gonna pay somebody 33 cents versus 03:02.070 --> 03:05.440 $4.60 I'm gonna pay the 33 cents for 03:05.440 --> 03:08.640 them to manage my funds and 03:08.640 --> 03:12.110 say uh personal situation comes up , 03:12.120 --> 03:14.520 can I take out money out of my TSP . I 03:14.520 --> 03:16.940 say alone or does it have to sit there 03:16.940 --> 03:19.107 for a certain amount of time . You can 03:19.107 --> 03:21.930 take loans out . If people come to me 03:21.930 --> 03:25.650 and asked me that I try to deter them 03:25.650 --> 03:28.950 from doing that . The TSP fund is your 03:29.740 --> 03:31.860 future . It's what you're going to 03:31.860 --> 03:35.140 retire with . So when people ask me 03:35.140 --> 03:38.680 about taking money out , try to deter 03:38.680 --> 03:42.490 them from doing that well for a 03:42.500 --> 03:44.840 mission , mean , I'm specialist Moser 03:44.850 --> 03:47.072 reporting from Fort McCoy , Wisconsin . 03:47.072 --> 03:49.580 Let's see you next time . Here comes 03:49.580 --> 03:52.980 the money . Here we go . Money talks . 03:53.580 --> 03:55.460 Money 03:58.540 --> 03:59.640 stop . Yeah .