Quote:
Originally Posted by creditcardfree
Personally, I think the TSP is overly simplified. Only 5 funds to choose from!!Of course, for the average person the simplier the better.
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That's part of my point. A plan designed for the rank and file workers, people of all income levels and educational backgrounds, needs to be as simple and idiot-proof as possible. 401k plans are way too complicated as they currently exist.
I think I'm pretty financially savvy. Still, signing my wife up for her 401k 2 years ago was a chore. Figuring out which forms in the thick booklet applied to her situation and needed to be filled out was part of it. Then, researching all of the investment options took me a few days. I can definitely see where most people wouldn't have a clue.