The number of investors with between $750,000 and $1 million meanwhile rose in the last calendar quarter by nearly 10,000 to just above 128,000. Image: koonsiri boonnak/Shutterstock.com
By: FEDweek StaffThe number of TSP account holders with at least $1 million in their accounts hit a record high of just above 171,000 at the end of June, following a calendar quarter of strong gains in the stock-based funds which in turn lifted the value of the lifecycle L funds.
That compares with the March figure of 147,000, which was from the year-end 2024 figure of just under 158,000—the previous high—due to stock market losses in February and March. The number a year ago, at the end of June 2024, was about 140,400.
“These figures demonstrate the impact of compound interest, long-term investment strategies, and market growth on the ability of those serving our nation to save for their future,” the TSP said.
Changes in the millionaire count to a large extent reflect performance of the stock-based funds, which held nearly two-thirds of the $975 billion on investment as of the end of May, counting their shares in the L funds.
The number of investors with between $750,000 and $1 million meanwhile rose in the last calendar quarter by nearly 10,000 to just above 128,000, while the number with balances between $500,000 and $750,000 rose by about 14,000 to just under 255,000.
There are 7.22 million TSP account holders—active and retired federal employees and military personnel, survivor beneficiaries and those who separated for reasons other than retirement but who kept their accounts in place.
The largest account balance at the end of June was $9.38 million; the largest at the end of March—presumably, but not necessarily, the same person, was $8.73 million.
There Could be More TSP Millionaires but for These Two Things – It is an elite club that welcomes new members. The recipe to be a TSP millionaire is quite simple. There are two major ingredients maximize your contributions and invest as aggressively as you can tolerate. Most important is that you need to be patient. Time is on your side if you are planning to have a 20-to-30-year federal career. Once you reach retirement, you can achieve this important milestone, Abe Grungold wrote last fall.
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See also,
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