TSP Millionaire Count Increases by 40,000 in 2024

The number of investors with accounts between $750,000 and $1 million grew in 2024 from about 107,000 to about 123,000. Image: Roman Samborskyi/Shutterstock.com

The number of TSP investors with at least $1 million in their accounts grew in 2024 to nearly 158,000, the second straight year of an increase of about 40,000, the TSP has reported.

The 157,760 investors with accounts of that size as of year-end are about 2 percent of what is now just above 7.2 million account holders, counting active and retired federal and military personnel and survivor beneficiaries. That compares with 116,827 at year-end 2023 and 76,889 at year-end 2022.

Changes in the millionaire count to a large extent reflect performance of the stock-based funds, with moderate to strong gains in those funds in both 2023 and 2024. In comparison, the down year in 2022 dropped the count from 112,880 at year-end 2021 to the 76,889 year-end 2022 figure.

The number of investors with accounts between $750,000 and $1 million grew in 2024 from about 107,000 to about 123,000; the number between $500,000 and $750,000 from about 225,000 to about 247,000; and the number between $250,000 and $500,000 from about 565,000 to about 594,000.

TSP millionaires on average have been investing in the program for more than 28 years, while the averages for the following three categories down were above 25, 23 and 20 years, respectively.

The largest single account at year-end 2024 was above $9.3 million, while the largest account at year-end 2023—presumably, but not necessarily, owned by the same person—was just above $8 million.

Perspective

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, writes Abe Grungold.

What TSP Millionaires Do That Others Don’t
Getting to a million in your TSP doesn’t happen by accident. There are certain principles that TSP millionaires know and follow to get to where they are while others wonder how they do it. The good news is that there is no magic or vudu involved. It is simply math, writes Dallen Haws.

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