CSRS / FERS Federal Retirement Planning Tools and Resources: Thrift Savings - TSP, FEGLI, FEHB and more.
Home     Articles     News     Resources     Find A Professional     Retirement Seminars     FREE NEWSLETTER    
 Financial Professionals Directory

Find a financial professional in your area. Click here

 Retirement Seminars

Federal retirement seminars for agencies.
Learn more

 Top 5 Resources

1. TSP Roth option
2. GS pay scale 2015
3. Best dates to retire
4. Latest TSP returns
5. Discount dental plans

 CSRS Retirement
 Overview - CSRS
 Eligibility - CSRS
 Creditable Service -CSRS
 Survivor Benefits - CSRS
 Annuity Calculation-CSRS
 FERS Retirement
 Overview - FERS
 Eligibility - FERS
 Creditable Service -FERS
 Survivor Benefits - FERS
 Thrift Savings Plan
 Thrift Savings -Overview
 TSP Investment Choices
 TSP Loan Program
 TSP Contributions
 TSP Roth Option
 TSP Withdrawals
 TSP Returns
 TSP.gov Account Access
 TSP Forms Library
 TSP Talk Online Forum
 FEGLI - Life Insurance
 FEHB - Health Benefits
 FEDVIP - Dental/Vision
 FLTCIP - Long-Term Care
 FSAFEDS - Flex Spending
 Financial Planning
 Tax Tips
 Find A Professional
 Retirement Seminars
 Retirement Benefits Tax
 Retirement Living
 Relocation / Real Estate
 Retirement Jobs
Home | Calculators | TSP Loan Calculator: Should You Borrow from Your TSP?

TSP Loan Calculator: Should You Borrow from Your TSP?

Many federal and postal employees consider taking out a loan from their Thrift Savings Plan (TSP) account to perhaps use as a down payment on a new home, to remodel their current home, to pay off high interest debt,  or to use in a financial emergency. 

But is a TSP loan a good idea?

What will it cost you in the long run?  Will it jeopardize your future retirement income?   And, if so, by how much?

In response to many requests on this topic from My Federal Retirement readers, below are  some helpful articles and a link to the TSP loan calculator that will assist you in making a decision.

-  What Federal Employees Should Consider About a TSP Loan by federal benefits expert, Ed Zurndorfer. 

- Important regulations  on repaying TSP loans that are often overlooked 

- Types of TSP loans available to you 

- 6 key rules for borrowing from your TSP 

- Other considerations provided by the TSP 

Helpful Calculators

TSP Loan Calculator

The TSP Loan Calculator on the Thrift Savings Plan website estimates loan payments based on the amount you want to borrow from your TSP account, the current loan interest rate, and other factors. To borrow from your TSP account, you must be a federal employee in pay status. If you qualify for a TSP loan, the maximum amount you may be eligible to borrow is $50,000; the minimum amount is $1,000.   To access the TSP Loan Calculator, go to: https://www.tsp.gov/planningtools/loan/loan.shtml

Bankrate Calculator

BankRate.com has provided a free online calculator that can assist you in finding out how much money (in terms of growth in your retirement savings) you'll potentially lose while you are paying off a loan from your TSP.  (Note:  while this calculator is for a "401k loan", keep in mind that a 401k savings plan in the private sector is very similar to the government's Thrift Savings Plan for federal and postal employees.)

Go here to use Bankrate's calculator:  http://www.bankrate.com/elink/calc/401kl.asp

·  College Savings Calculator
·  FEGLI Calculator: Calculating Federal Employees Group Life Insurance Options and Premiums

Get other resources like this
delivered to your email box -- FREE!
PRIVACY:  We never share email addresses  Unsubscribe anytime.

Featured Columnist
Read federal retirement articles written by federal benefits expert and Certified Financial Planner, Edward Zurndorfer

Recent Articles & Resources
 Thrift Savings Plan Returns: Monthly and Annual - G, F, C, S, I and L Funds Updated: July 2, 2015
 President Signs Bill Eliminating 10% Early Withdrawal Penalty for Retired Federal Law Enforcement Of
 Federal Employee Union Sues OPM Over Data Breach
 5 Questions to Ask Before Transferring IRA and Retirement Funds To and From the Traditional TSP
 Senate Committee Approves Bill to Stop Wasteful Federal Employee Bonuses