My TSP loan balance is now lower than my auto loan balance. The original amount of the TSP loan was more than the auto loan, but I am paying $250 every two weeks for the TSP loan & only $150 for the auto loan. The TSP loan will be paid off in approximately 20 pay checks. Once I'm no long paying $250 every two weeks towards my TSP loan I can add that $250 to the auto loan. Both interest rates are very low, so it may make more sense to put it towards the credit card debt, though I like the idea of owning my car outright sooner rather than later.
Archive for November, 2019
As I mentioned in my now deleted blog entry due to the hacking, the IRS will/has announced higher retirement plan limits in 2020. You will now be able to contribute $19,500 to your 401k and catch-up contributions for those 50 & older has increased to $6,500. No change to the IRA limit.
Multiple articles linked below for your reading pleasure:
Biweekly contribution for the 401k:$750
Biweekly contribution for catch-up:$250